XBO Ventures Invests in Rapyd
XBO.com, a prominent cryptocurrency exchange, has expanded its influence in the fintech landscape through its investment arm, XBO Ventures, which has committed $25 million to support Rapyd’s substantial $500 million Series F funding round. Rapyd is recognized for simplifying the complexities associated with cross-border payments and financial services, positioning itself as an essential player in global financial infrastructure.
Enhanced Access to Financial Tools
This strategic investment provides XBO Ventures and its associated portfolio companies with enhanced access to Rapyd’s expansive suite of financial tools utilized by leading enterprises across the world. The array of services includes:
- Efficient payment processing
- Secure digital asset custodianship
- Management of corporate wallets
- Fiat on-off ramps designed to facilitate transactions between conventional currency and cryptocurrencies
A notable example is the advantage offered to Web3 gaming companies in Europe, allowing them to easily integrate these capabilities and offer their users the flexibility to transact in both cryptocurrencies and fiat currencies without encountering the usual challenges.
Collaboration with Financial Giants
Joining XBO Ventures in this significant round of funding are illustrious financial entities such as Target Global, BlackRock Funds, Fidelity Management, and General Catalyst, underscoring an emerging trend where substantial investment is channeled towards enterprises that create the foundational components of the financial ecosystem. According to a recent report from McKinsey, it’s forecasted that global payments revenue will exceed $3 trillion by 2027, with facilitators like Rapyd positioned to drive this growth.
Expediting Service Offerings
Furthermore, this collaboration is set to expedite XBO.com’s own service offerings, including liquidity pools, market making, and Crypto-as-a-Service solutions. This advancement aims to streamline the onboarding process for startups keen to launch initiatives without needing to create infrastructure from scratch. Lior Aizik, Co-founder and COO of XBO.com, commented on the investment, stating:
“Our commitment enables us to provide clients with a swift and direct entry into one of the most sophisticated fintech ecosystems globally.”
Future of Payments in Web3
As Rapyd eyes further expansion into the Web3 space, its exploration of decentralized finance (DeFi) and embedded finance indicates a broader trend within the industry aimed at integrating cryptocurrency more closely with mainstream financial systems. This initiative aims to ensure that both businesses and consumers benefit from quicker, safer, and more adaptable payment solutions.
