XanPool, a provider of crypto-payment infrastructure, raised $27 million in a Series A round led by Valar Ventures, the Peter Thiel–founded fund.
Other participants included CMT Digital, Taavet Hinrikus, founder and chairman of Wise, and existing investors — venture firms Gumi Gryptos and Antler.
The Hong Kong-based startup provides a non-custodial peer-to-peer payments platform for settlements in fiat and cryptocurrencies. Its liquidity providers are crypto funds, money-services operators, and traditional enterprises with idle capital in digital or fiat currencies.
“XanPool never touches these funds; we simply create software that allows individuals or companies to automate their purchases and sales and earn a reward for it,” explained founder and CEO Jeffrey Liu.
The platform uses liquidity providers’ capital to execute cross- and cryptocurrency transactions and pays them up to 2% in commissions per month. According to the startup, the amount of funds in the network is around $200 million.
XanPool counts around 500,000 users and more than 400 business partners. The bulk of operations is in the Asia-Pacific region.
The raised funds will be used to expand its presence in the region. XanPool aims to grow its user base to 10 million by the end of 2022.
Earlier in July, Peter Thiel’s fund led the funding round for the Indian startup Vauld, which develops a platform for fiat- and cryptocurrency operations.
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