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Stablecoin cross-border payments specialist PEXX has acquired crypto publication Chain Debrief.
The Singapore-based media platform, which had stopped publishing new content towards the end of 2023, was sold to PEXX for an undisclosed amount following its $4.5 million raise led by TNB Aura and Antler.
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PEXX plans to leverage Chain Debrief's library of content and enhance its current user experience, offering them easy access to information and resources about the industry.
The acquisition also serves as an opportunity for PEXX to further build its community, particularly in Southeast Asia, as well supporting PEXX’s broader vision of encouraging crypto investment and adoption across the region, the company said in an an announcement.
"By integrating Chain Debrief's rich content and community insights, we are not only enhancing our platform but also empowering our users with the knowledge and tools they need to navigate the complex world of blockchain and cryptocurrencies," Marcus Lim, CEO of PEXX said.
"This strategic move underscores our commitment to expanding our influence and fostering greater engagement within the Southeast Asian blockchain ecosystem while staying true to our mission of making cross-border payments fast, affordable, and accessible to all."
Jacky Yap, founder of Chain Debrief, highlighted PEXX's cross-border payment solution as an area in which Chain Debrief can help expand the audience.
"We've always been passionate about educating and empowering our community with the latest in blockchain and crypto," Yap said. "Now, with PEXX's innovative approach to cross-border payments and their commitment to expanding financial access, we have the opportunity to bring our content and insights to an even broader audience. "
PEXX's platform streamlines the process of converting stablecoins, such as Tether (USDT) and Circle (USDC), directly into bank accounts anywhere in the world. This eliminates the need for intermediaries or traditional bank accounts, offering a faster and more efficient solution for individuals and businesses.
In January 2022, Chain Debrief raised $900,000 in its seed funding round led by angel investor Sim Jian Hong and supported by institutional investors QCP Capital, Gecko Ventures, Double Peak Group and Coinhako.
Senior executives from Defiance Capital, Xfers, Mintable and other individual investors in the crypto space also participated in the funding round.
