Stablecoin company BLOX has completed a $1 million seed round financing, led by Kivo Technology

According to Fintechnews, Malaysian stablecoin company BLOX announced the completion of a $1 million seed round financing, led by the technology investment division of Singapore's venture capital fund Kivo Technology. The new funds will be used to expand the development of its Malaysia Ringgit (MYR) backed stablecoin MYRC.

It is reported that BLOX has participated in a domestic blockchain payment proof-of-concept project in Malaysia, exploring blockchain-based local payment scenarios through MYRC.