Completes US$400,000 Investment into XREX Inc. TORONTO, Aug. 24, 2021 (GLOBE NEWSWIRE) -- ThreeD Capital Inc. (“ThreeD” or the “Company”) (CSE:IDK) (OTCQX:IDKFF), a Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors, is pleased to announce XREX Inc. (“XREX”), a Taiwan-based blockchain TradeTech company closed its US$17 million Pre-A round of financing.
ThreeD participated in this investment round by providing US$400,000 to acquire 282,386 Series Pre-A Preferred Shares of XREX.
“We are very excited about our investment in XREX and its commitment to financial inclusion,” said Sheldon Inwentash, Chairman and CEO of ThreeD. “The cryptocurrency space can be intimidating and complicated, especially for those in emerging economies, where access to resources and financial markets is not easily accessible. XREX is accelerating international trade for emerging economies using blockchain technology in a secure, compliant, and easy-to-use manner. With the company's technology, international focus, and expert management team, we believe XREX has strong growth potential and is solving a critical issue faced by cross-border merchants in today's economy.”
“We've known ThreeD Capital for three years and are thrilled to have them participate in our Pre-A round. ThreeD Capital brings a rare combination of broad management experience and a deep understanding of the blockchain industry. We look forward to receiving their guidance and leveraging their network in both traditional and blockchain-focused financial industries,“ said Wayne Huang, co-founder and CEO of XREX.
https://www.globenewswire.com/news-release/2021/08/24/2285498/0/en/ThreeD-Completes-US-400-000-Investment-into-XREX-Inc.html