""They're building FX [foreign exchange] and payment infrastructure that matches the speed of stablecoins," Chris Ahn, a partner at Haun Ventures, told Fortune."
"Stablecoins are one of the hottest sectors in fintech. Proponents say the tokens can speed up cross-border payments and reduce transaction fees, among other benefits."
"Venture capitalists have poured hundreds of millions into the space over the past year, backing buzzy startups like Zerohash, Rain, and KAST."
"Founded in 2025, XFX hopes to draft off of that momentum. The company's three cofounders met while they were employees at Bitso, the Latin American exchange."
XFX, a Miami-based startup, focuses on improving foreign exchange processes for both fiat currencies and stablecoins. The company has successfully raised $17 million in a Series A funding round led by Castle Island Ventures, with participation from Haun Ventures and Coinbase Ventures. Stablecoins are gaining traction in fintech for their potential to expedite cross-border payments and lower transaction costs. Founded in 2025, XFX's cofounders have backgrounds in cryptocurrency and traditional finance, aiming to leverage the growing interest in stablecoin technology.
Read at Fortune
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