Asian crypto startup XLD Finance secures $13 million in funding

XLD Finance, a crypto startup offering decentralized finance (DeFi) tools across Asia has secured $13 million in its pre-Series A funding round led by Dragonfly Capital and Infinity Ventures Crypto.

• The fund will be used for its product development and hiring engineers, the startup claims.
• Founded in 2021, XLD Finance offers web3 and crypto-based payments, disbursements, and crypto-to-fiat-onramps in the Philippines, Indonesia, Malaysia, Vietnam, India, and Bangladesh.
• The startup offers xSpend ecosystem that lets users spend their GameFi tokens and stablecoins on utilities or get more credit.
• Digital Currency Group, Advance AI, IDG Capital, Insignia Venture Partners, and Yield Guild Games invested in the round.