Introducing XFX
I’m thrilled to share that XFX has raised $9.1 million in funding, led by Haun Ventures, with participation from Castle Island Ventures, Oak HC/FT, MAYA Capital, Coinbase Ventures, Paxos, Bitso, and other strategic angels.
At XFX, we’re building the infrastructure layer for international settlement—enabling financial institutions, market makers and payment processors to move money across borders with speed and scale, across fiat and stablecoin rails.
The stablecoin moment—and what’s still missing
Over the last few years, stablecoins have gone from crypto side projects and proof of concepts to trusted financial tools. In April alone, $1.9 trillion in stablecoin volume was settled on-chain. Companies like SpaceX and Scale AI are using them to pay vendors and contractors across the world. Circle went public. Stripe acquired Bridge and, more recently, Privy. Stablecoin settlement has officially gone mainstream.
And yet—we’re still early. Global cross-border payment volume is projected to hit $290 trillion by 2030, a 53% increase from recent levels, and stablecoins are expected to reach $90 trillion in transaction volume in that same timeframe.
But challenges remain for mainstream institutional adoption– the infrastructure isn’t there yet.
You can think of stablecoins as electricity: instant, efficient, always-on, and capable of transforming how the world operates. But without the underlying infrastructure—generation, transmission, and a robust grid—they can’t power cities, industries, or homes. The same goes for stablecoins: to realize their potential, they require regulation, liquidity, settlement, and interoperability with traditional financial systems.
Today’s financial grid isn’t built to handle stablecoins at scale:
- Liquidity is fragmented and inconsistent across venues, currencies, and networks.
- FX execution is manual and opaque, lacking automation and price transparency.
- Settlement is unreliable and slow, especially when bridging between fiat and on-chain environments—leading to trapped capital and operational friction.
This is what we’re fixing at XFX.
XFX: The liquidity and settlement layer for stablecoins
The three of us—Santiago, Alberto, and Jason—first worked together at Bitso, where we played key roles in scaling the company’s institutional and payments business across Latin America.
- Alberto (Beto) led the Markets team, managing liquidity and provider relationships.
- Jason built core infrastructure, from institutional trading systems to blockchain-based settlement tools.
- I ran the B2B business unit and product function, with a focus on cross-border payments and go-to-market.
At Bitso, we had a front-row seat to the evolution of stablecoins and the growing demand for them across LatAm. As we grew Bitso Business to $8.5B in annualized processing volume, we pushed the limits of what was possible using the existing infrastructure and ecosystem. Stablecoins promised real-time, capital-efficient settlement—but access to deep, competitive liquidity across fiat and stablecoin markets remained a major constraint.
We started XFX to deliver purpose-built infrastructure to make stablecoin settlement truly reliable, transparent, cheaper and faster at scale.
With XFX, institutions can:
- Tap into deep, wholesale liquidity across fiat and stablecoins—ensuring the most consistently competitive execution in the market
- Settle instantly, without pre-funding or trapped capital—freeing up working capital and reducing FX exposure
- Access full transparency into benchmarks, spreads, and execution quality—so every trade is auditable and trusted
All through a unified, flexible platform designed for scale, reliability, and institutional trust.
Get in touch
We’re currently working closely with a small group of design partners.
If you’re a financial institution, market maker, or payment processor ready to unlock unparalleled international settlement—we’d love to hear from you. Visit www.xfx.io and contact us to explore how we can work together.