NGC Ventures Backs Crypto Platform XanPool’s Entrance Into India, Malaysia, Indonesia and Vietnam

Announcements, News | November 26, 2019 By:

Peer-to-peer crypto to fiat platform XanPool is mapping out its Asia blueprint with an expansion of its service offerings in India, Malaysia, Indonesia, and Vietnam.

Supported by investment firm NGC Ventures, XanPool is an omnichannel solution that enables both institutional and retail users to on and off board the crypto-economy, regardless of jurisdiction or infrastructure. To date, the company has established a network of more than 80 automated trusted providers across the wider Asia Pacific region.

“XanPool’s vigorous success is a reflection of our long-term vision of delivering a global, decentralized fiat gateway, regardless of jurisdiction or infrastructure,” said Jeffery Liu, Chief Executive Officer at XanPool. “This simple belief is the core of everything we do at XanPool, which has fuelled our motivation to constantly expand our engagement with new markets and audiences. We’re truly excited to embark on the next phase of the journey.”

The XanPool platform currently has more than 50,000 active users registered on the platform, and still growing 30% month on month. It supports direct and instant settlement for seven countries, including Singapore, Vietnam, Philippines, Indonesia, Nigeria, Hong Kong and Ghana. The peer-to-peer platform is built on automated architecture, which derives no custody risk for market takers, and users are able to automate the process of market making through native payment transfer methods. XanPool has introduced direct gateways with PayNow, FPS, Alipay HK, and InstaPay, amongst a number of other leading liquidity providers.

Tony Gu, Founding Partner of NGC Ventures, said that one of the ideological tenets of the crypto-economy is in the creation of access and mobility for the disadvantaged.

“With XanPool, we have witnessed how a thoughtful consideration of technology infrastructure can drive users to the ecosystem in an easy, powerful way,” Gu said. “While we are confident that the team will deliver the initial promise of transformation that the decentralized economy has long awaited, NGC Ventures will help Xanpool to develop more stringent compliance practices with various KYC and AML checks to ensure that the business is both regulation ready and friendly.”