Singapore-based startup ecxx.com has raised US$22 million in pre-Series A funding from a group of investors, including a prominent crypto fund in Southeast Asia, its Co-founder and CEO Branson Lee told e27.
“The funds raised from this round will be used for global expansion,” Lee said.
ecxx.com was built by team of blockchain developers, including Lee, Zhong Wei Xiang, and Tan Hong Eana, who have built exchange previously. Currently in the beta stage, ecxx.com will allow people to buy, sell, and store digital assets. Once it goes live in the first quarter of next year, the exchange will offer bespoke customer service to clients with a certain trading threshold. With a twin focus on user experience and security, ecxx.com will offer trading bonus cashback to users.
“We believe our bespoke customer service for customers will set us apart from other exchanges. To that end, we are not aiming to be a supermart of some sort for customers, rather a platform for customers to venture into alternative asset classes and we want to be there for them every step of the way.”
The ecxx.com platform will be integrated with SmartNation Singapore project, a consent-based identity profile platform for Singaporeans or permanent residents. For non-Singapore residents, the typical KYC process still applies.
“Our platform is built from ground up. We want our customers to understand that security and great user experience is not mutually exclusive. We will be working closely with the regulator to consistent in terms of KYC processes as well as being compliant in terms of customer protection,” Lee noted.