XY Finance, a Taiwan-based blockchain startup, closed a $12M funding round.
The round was led by Circle Internet Financial, LLC, Infinity Ventures Crypto, Mechanism Capital, TRON Foundation, Morningstar Ventures, Yield Guild Games Ventures, Block Capital and Animoca Brands, which were part of a consortium that includes more than forty investment firms.
The fund raise also comes as XY Finance is about to conduct its Initial DEX Offering (IDO) on December 9.
Led by Wilson Huang, founder XY Finance is a cryptocurrency startup known as a one-stop cross chain aggregator for tokens and NFTs. Their platform allows investors to transfer cross-chain crypto assets cost effectively.
Since launch the platform has seen triple digit growth with unique users growing 436% and trading volume growing more than 983% in October alone. Through collaboration with YGG and Animoca Brands, XY Finance will introduce various GameFi experiences to the XY Finance ecosystem and fulfill the cross-chain demand of the in-game assets and play-to-earn business model.