Bullish
BLOX Secures $1M Seed Round Led by Kivo Technology for MYRC Expansion
08-14
Malaysian stablecoin issuer BLOX closes $1M seed round led by Kivo Technology to expand MYRC development and blockchain payment pilots.
Woofun AI reports that Malaysian stablecoin issuer BLOX has closed a $1 million seed funding round, with Kivo Technology serving as the lead investor. Kivo Technology operates as the investment arm of a Singapore-based venture capital firm. The capital will support the expansion of MYRC, a stablecoin pegged to the Malaysian ringgit. BLOX has already engaged in domestic blockchain payment proof-of-concept initiatives within Malaysia, utilizing MYRC to test local payment infrastructure.
WOOFUN AI
Impact Assessment · Quick Read
The funding validates institutional interest in Southeast Asian fiat-backed stablecoins, specifically targeting local currency settlements. With Kivo Technology leading, BLOX gains strategic backing to scale MYRC’s utility in cross-border and domestic payments. Success in Malaysian pilot projects could serve as a template for broader regional adoption of ringgit-pegged assets.
Generated by WOOFUN AI · For reference only, not investment advice
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