As per the latest reports, XanPool, the infrastructure provider for the cryptocurrency-to-fiat service has announced successful funding round. The firm has announced that it will be expanding its operations all throughout the Asia-Pacific region.

XanPool has announced that the funding round has helped it generate a huge amount of funds for the very purpose of business expansion.

The crypto-to-fiat startup based in Hong Kong has announced that it has generated funds worth $27 million from the funding round. It was the Series A funding round that the crypto-to-fiat firm had recently carried out.

According to XanPool, it is Valar Ventures that has led the funding round. Valar Ventures is a major capital firm that has been founded by Peter Thiel. Peter Thiel is prominently known as the co-creator of PayPal.

XanPool has also revealed the names of other firms that have participated in the funding round. These firms include Taavet Hinrikus, the co-founder of TransferWise, and CMT Digital, a venture capital firm. The firm has reportedly announced the names of the firms on Friday, October 22, 2021.

At present, XanPool is providing its services in a total of thirteen countries in the Asian-Pacific region. From the funds raised from the funding round, XanPool is aiming to expand its services in more countries in the particular region.

The officials at XanPool have revealed that so far, they have collected very positive reviews about their services from the countries they are providing their services in.

They are even getting a lot of demand from another part of the Asian-Pacific region where many countries now want to have their services on board. Therefore, they feel that it is the right time to expand in the region. At present, there is not much competition in the particular region in terms of cryptocurrencies.

Just like the American and the European regions, Asia is also becoming crypto-savvy. The people in Asian countries are on the right track of cryptocurrency adoption. Given the current economic situations of most of the countries in the Asian region, the people would be very much willing to adopt cryptocurrencies.

Therefore, they are aiming to launch their services in other countries of the Asian-Pacific region at the earliest. For now, there are several countries inside and outside of the Asian region where XanPool is operating.

For now, some of the most prominent countries XanPool operates in include Japan, New Zealand, Australia, Indonesia, Thailand, Singapore, Philippines, Hong Kong, and India.

Jeffery Liu, the CEO of XanPool has also revealed their plans of expansion in the APAC countries. He revealed that it might be in the upcoming 2nd or 3rd quarter in which they would expand their operations in the APAC region.