Vixichain, a Vilnius, Lithuania-based Layer-1 blockchain solving Traditional Finance (TradFi) reluctance to interact with public blockchains, raised $7M in funding.
Backers were not disclosed.
The company intends to use the funds to expand R&D, forge strategic partnerships with financial institutions, and realize its business roadmap ahead of its upcoming DevNet and mainnet launches.
Led by CEO Roy Mayer, Vixichain provides a platform that empowers financial institutions to actively participate in the blockchain space and ensures transactions are faster, secure, and compliant. It offers a comprehensive suite of DeFi applications tailored for financial institutions, deployed in the form of smart contracts, and includes instant services for banking platforms, card processors, crypto exchanges, OTC agents, and more—all provided without the need for CAPEX.
Its ecosystem is supported by the Vixi Wallet which enables end-users to store, send, and receive digital assets, allowing them to choose their institution of choice to validate transactions.
FinSMEs
24/10/2024