Blockchain startup XY Finance lands $12m funding

Taiwan-based blockchain company XY Finance has raised $12m from a funding round led by Circle Internet Financial.

The round also saw participation from Infinity Ventures Crypto, Mechanism Capital, Yield Guild Games Ventures, Block Capital, TRON Foundation, Morningstar Ventures, Animoca Brands amongst others.

Founded in 2021, XY Finance is a cryptocurrency startup allows investors to transfer cross-chain crypto assets cost effectively. The company claims it is known as a ‘one-stop cross chain aggregator for tokens and NFTs’.

XY Finance’s platform has seen triple-digit growth since its launch, with unique users growing 436% and trading volume climbing over 983% in October alone. The company plans to introduce various GameFi experiences to the XY Finance ecosystem and fulfil the cross-chain demand of the in-game assets and play-to-earn business model.

XY Finance noted that the fund comes just as the firm is planning to conduct its Initial DEX Offering on December 9.

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