XREX

Founded in 2018, XREX began as a crypto-fiat exchange targeting emerging markets. In 2019, it closed a $7 million seed round led by AppWorks, with participation from Skype co-founder Toivo Annus. In August 2021, XREX raised $17 million in a Pre-A round led by CDIB Capital, with investors including SBI Investment and E.Sun Venture Capital, to expand its fiat portfolio and licenses. A key milestone came in May 2024 when XREX Singapore obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore, enabling regulated cross-border payment and digital payment token services. In June 2024, XREX launched XRAY, a blockchain wallet query tool for anti-fraud and anti-money laundering, initially as a LINE chatbot, with a web version and API planned. These events mark XREX's evolution from a startup to a regulated fintech player, strengthening its compliance and RegTech capabilities.