November 29, 2024
usdx.money has completed a $45 million funding round, bringing its valuation to $275 million. The investment round included participation from NGC, BAI Capital, Generative Ventures, and UOB Venture Management. Existing investors, such as Dragonfly Capital and Jeneration Capital, also supported the project. Some investors chose to participate through warrants.
The funding will be used to advance usdx.money’s ecosystem development and expand the use of its synthetic stablecoins, USDX and sUSDX. Plans include enhancing liquidity by integrating with decentralized finance (DeFi) platforms such as Pancakeswap, Curve, Balancer, and Uniswap. The protocol aims to support the use of USDX and sUSDX as collateral for decentralized lending protocols, perpetual protocols, and other DeFi systems. Another focus is to introduce revenue models designed to offer non-correlated USD investment returns. The team will also work to position sUSDX as backend infrastructure for stablecoin issuers to improve market security and liquidity and develop payment services for unbanked communities.
usdx.money bridges decentralized finance (DeFi), centralized finance (CeFi), and traditional finance (TradFi) to provide efficient, stable financial solutions. USDX serves as the primary stablecoin product of the protocol, supporting its strategy for broad ecosystem integration.
About usdx.money
usdx.money is a decentralized protocol focused on issuing synthetic stablecoins. The project seeks to establish infrastructure that supports financial solutions by integrating DeFi, CeFi, and TradFi. USDX, the flagship stablecoin, is central to this initiative.
Website: https://usdx.money/
X: @usdx_money
About Investors
NGC
NGC is a venture capital firm that focuses on investing in blockchain and cryptocurrency projects. The firm supports technologies and projects that aim to transform various industries. NGC has established itself as a key player in the blockchain investment space, contributing to the growth of the digital economy.
Location: Singapore, Singapore Website: https://ngc.fund/
BAI Capital
BAI Capital is a venture capital firm specializing in early to growth-stage investments in technology and blockchain projects. With a strategic approach to investment, BAI Capital has a track record of supporting transformative technologies and promoting the development of startups across sectors.
Location: China
Website: https://www.bai-cap.com/ A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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