Stablechain FinTech startup xDai has completed a $500,000 Seed round to improve its cryptocurrency platform.
NGC Ventures, the venture capital firm, led the round. It was supported by BitMax.io and Focus Labs’ joint investment fund B-Tech as well as Bixin Investment, the cryptocurrency trading company.
Founded in 2018, the xDai blockchain-based stablecoin is pegged to the American dollar, meaning it is designed to minimize the volatility of the price of the cryptocurrency. The xDai cryptocurrency is also Ethereum compatible, enabling data and assets to be transferred to the Ethereum mainne.
NGC Ventures also contributed to cryptocurrency futures exchange CoinFLEX’ss $10m funding round in August.
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