Brazilian fintech Lumx raised a $3.4M funding round led by Indicator Capital and CMT Digital. Escala Capital, Bitso, Nomad, Antler, Honey Island Capital, and angel investors Josh Weiss and Chuk Okpalugo also participated in the round.
Lumx provides a stablecoin payment infrastructure, enabling banks, fintechs, and businesses to send and receive cross-asset payments with near-instant settlement. Lumx is looking to position itself as a bridge between traditional finance and the digital stablecoin market in Latin America.
Lumx will use the funding to develop new technology, scale operations across Latin America, and support its compliance strategy.
Founded in 2020 by Caio Barbosa and Gabriel Polverelli, Lumx has a team of around 30.
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