Usdx.Money Secures $45M New Financing At $275M Valuation
Date
12/2/2024 8:23:00 AM
(MENAFN- Chainwire)
Hong Kong, Hong Kong, December 2nd, 2024, Chainwire
usdx.money , a stablecoin infrastructure project, announced it has raised $45 million in the latest round of financing. The round puts the project's valuation at $275 million. Investors for this round include NGC, BAI Capital, Generative Ventures, and UOB Venture Management, with a portion of the investments made in the form of warrants. Its pre-existing investors are Dragonfly Capital and Jeneration Capital.
aims to build the next-generation stablecoin infrastructure, with USDX as its first stablecoin product. After concluding a successful funding round, is accelerating its ecosystem efforts for increased adoption of USDX, with a focus on:
USDX liquidity : bootstrapping USDX liquidity in leading DEXs, including Pancakeswap, Uniswap, Balancer, and Curve
DeFi integration : integrating USDX as collateral in various DeFi money market and perpetual protocols
Innovative payout model : providing non-correlated dollar payouts for USDX users
Stablecoin infrastructure : enabling other stablecoin issuers to leverage infrastructure
Payment rails : providing alternative payment service for the underserved population
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