Quick take:
- Talos founder Anton Katz and Fireblocks founder Michael Shaulov were among those who joined as angel investors.
- As a part of the deal Amity Ventures Managing Partner CJ Reim will also join Borderless.xyz’s board of directors.
- The company is building a payment infrastructure for global transactions including stablecoins and real-world assets.
Borderless.xyz, a blockchain-based payments platform for stablecoins, real-world assets and fiat currencies has raised $3 million in a pre-seed funding round led by Amity Ventures. The fundraising brings the total raised to $3.3 million, according to the announcement on Wednesday.
As a part of his firm’s leading role in the funding, Amity Ventures Managing Partner CJ Reim will also join Borderless.xyz’s board of directors.
The round also attracted nine angel investors including Talos founder Anton Katz and Fireblocks founder Michael Shaulov.
Borderless.xyz’s platform is already present in 50 countries and supports 23 currencies. The company plans to use the fresh capital to accelerate its global growth, hire more engineers and add liquidity to its global stablecoin payments network.
Commenting on the announcement, Borderless.xyz CEO Kevin Lehtiniitty told The Block: “Borderless.xyz is creating a new payments network that connects liquidity from stablecoin-enabled financial institutions all over the world across different blockchains and stablecoins into one orchestration layer and liquidity network to enable money to be moved anywhere at any time on these new rails.”
According to Lehtiniitty, his company wants to replicate what Visa did for banks in stablecoin-enabled financial institutions. Borderless.xyz wants to “[enable] products and platforms to build global cross-border payments on top of a unified global network.”
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