{"id":207579,"date":"2026-03-26T23:08:08","date_gmt":"2026-03-26T23:08:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/207579\/"},"modified":"2026-03-26T23:08:08","modified_gmt":"2026-03-26T23:08:08","slug":"xfx-lands-17m-to-fix-the-messy-middle-between-dollars-and-stablecoins","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/207579\/","title":{"rendered":"XFX lands $17M to fix the messy middle between dollars and stablecoins"},"content":{"rendered":"

If you live in Miami, chances are that you\u2019ve moved money across borders at one point or another. Simple, right? Sure, in small doses. But as you scale up, infrastructure-wide cracks begin to appear.<\/p>\n

That gap\u00a0\u2013\u00a0between how money should move and how it actually does \u2013\u00a0is where Miami-based startup XFX<\/a> is building its business.<\/p>\n

The company just raised $17 million in a Series A round led by Castle Island Ventures, with participation from Haun Ventures and Coinbase Ventures. The funding comes as stablecoins gain traction among investors and large financial players looking for faster ways to move money globally.<\/p>\n

The company\u2019s three cofounders \u2013\u00a0Santiago Alvarado, Jason Losh, and Alberto S\u00e1nchez Tello \u2013\u00a0met while working at Bitso, one of Latin America\u2019s largest crypto platforms.\u00a0<\/p>\n

There, they saw firsthand how uneven the system still is. Crypto transactions can settle in seconds. Traditional banking rails can take days.<\/p>\n

Alvarado, XFX\u2019s CEO [pictured above], framed the problem in simple terms: \u201cHow can we process the maximum amount of volume with a minimum possible amount of capital?\u201d he said, as reported by Fortune<\/a>. \u201cThat is what we\u2019re trying to build.\u201d<\/p>\n

What XFX has built so far is what he describes as an \u201cengine\u201d\u00a0\u2013\u00a0a system designed to match buyers and sellers of currencies more efficiently. Instead of relying on slow, fragmented processes, the goal is to create deep liquidity between specific currency pairs so large transactions don\u2019t get stuck or shift prices.<\/p>\n

Right now, that focus is narrow by design. XFX, which was founded last year, supports exchanges between stablecoins and three fiat currencies: U.S. dollars, Mexican pesos, and Colombian pesos. The idea is to go deep before expanding outward.<\/p>\n

\u201cThey\u2019re building FX and payment infrastructure that matches the speed of stablecoins,\u201d commented Chris Ahn, a partner at Haun Ventures.<\/p>\n

That \u201cmessy middle\u201d is where most of the real work still needs to happen.<\/p>\n

XFX\u2019s current customers include financial institutions, money transmitters, and crypto exchanges. With the new funding, the company plans to hire more quants and expand relationships with trading desks and banks.<\/p>\n

Because moving money fast is one thing. Making it work reliably, at scale, across borders and currencies\u2026 that\u2019s where things tend to break.<\/p>\n

\"\"<\/p>\n

READ MORE IN REFRESH MIAMI:<\/p>\n

\"Riley<\/a> <\/p>\n

I am a Miami-based technology researcher and writer with a passion for sharing stories about the South Florida tech ecosystem. I particularly enjoy learning about GovTech startups, cutting-edge applications of artificial intelligence, and innovators that leverage technology to transform society for the better. Always open for pitches via Twitter @rileywk or www.RileyKaminer.com.<\/p>\n

\"Riley<\/a>Latest posts by Riley Kaminer (see all<\/a>) \t<\/p>\n","protected":false},"excerpt":{"rendered":"If you live in Miami, chances are that you\u2019ve moved money across borders at one point or another.…\n","protected":false},"author":2,"featured_media":207580,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[123,125,124],"class_list":["post-207579","post","type-post","status-publish","format-standard","has-post-thumbnail","category-miami","tag-miami","tag-miami-headlines","tag-miami-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/207579","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=207579"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/207579\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/207580"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=207579"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=207579"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=207579"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}