TNB Aura Leads US $4M Investment in PEXX to Power Cross-Border USD Solutions
Fund

TNB Aura Leads US $4M Investment in PEXX to Power Cross-Border USD Solutions

Source: e27

The funding announcement coincides with the launch of PEXX’s neo-banking suite, now accessible to customers in over 50 countries

 

PEXX, an innovative cross-border US dollar (USD) platform, has concluded a seed funding round, raising over US$4 million.

The investment was led by TNB Aura, with significant participation from Antler and LongHash Ventures, alongside angel investors including Dexter Lo and Kenneth Low.

This strategic funding is earmarked to accelerate PEXX’s global licensing efforts, drive product innovation, and fuel its expansion across Asia, Latin America, and the Middle East.

The funding announcement coincides with the launch of PEXX’s neo-banking suite, now accessible to customers in over 50 countries.

Addressing gaps in global finance

Founded in 2024, PEXX aims to transform cross-border financial services for the global generation. The platform positions itself to fill crucial gaps that traditional banks, crypto exchanges, and other neo-banks currently leave unaddressed.

PEXX offers a full-feature USD account that can be opened from anywhere without needing branch visits or US residency, a significant departure from legacy bank offerings. Unlike crypto exchanges, PEXX provides fast, global crypto-to-fiat transfers that convert directly into spendable dollars, settling off-chain and directly into bank accounts.

Furthermore, it integrates on-demand tokenised US Treasury yield (T-Bills) and real-time stablecoin settlement, working seamlessly with USD and a Visa card, features often lacking in other neo-banks.

PEXX’s suite delivers four interconnected products: Bank Different, Pay Different, Send Different, and Earn Different. This comprehensive approach replaces the delays, extensive paperwork, and hidden fees often associated with legacy banks, opting instead for real-time settlement and transparent pricing.

Key Features for the Mobile Workforce

PEXX provides a robust set of features designed for the mobile workforce, including:

  • Borderless virtual USD accounts: Users can open a full-featured digital USD account with no monthly fees, no minimum balance requirements, and instant onboarding using just a passport and phone. Critically, US residency or a Social Security Number (SSN) is not required. Deposits can be made in USDT or USDC, and users can send and receive USD via SWIFT, ACH, and Fedwire from any location.
  • Daily interest wallet: Balances held in the wallet can automatically earn up to 3.5 per cent APY, powered by tokenised US Treasury Bills through regulated third-party infrastructure. This offers daily yield with no lockups or hidden risks.
  • PEXX card: A free global Visa debit card allows spending of USD, USDT, or USDC at over 150 million merchants worldwide, including services like Uber Eats, Alipay, and Netflix. A free instant Visa virtual card is also available, with a flat 1.2 per cent FX fee.
  • Global off-ramp transfers: Users can send USD and stablecoins directly to bank accounts in more than 50 countries. These transfers typically clear within minutes, sometimes seconds, and are always completed within 24 hours. PEXX boasts industry-leading FX rates and uses real-time Google FX pricing for complete transparency.

PEXX is purpose-built for a diverse range of users, including freelancers, remote workers, creators earning in USD and stablecoins, expats, students, and digital nomads managing cross-border payments. Startups and SMEs needing to pay global teams or suppliers are also key beneficiaries, alongside everyday users seeking to securely store and grow USD.

Marcus Lim, CEO and Founder of PEXX, stated,

“PEXX gives you everything you expect from a USD bank—except the borders, high fees and friction. Our mission is simple: if you’ve got a passport and a phone, you should have full access to USD, just like anyone else. That’s the future we’re building.”