Cyprus-based INXY Payments, an EU-authorised payment platform bridging together traditional finance and the crypto economy, has successfully closed a $3 million investment round led by Flashpoint VC with participation from prominent angel investors.

According to the announcement, this funding “will accelerate INXY’s mission to simplify and secure crypto payments for businesses worldwide”.

Flashpoint, an international tech investment manager with approximately $500 million in assets under management, is headquartered in London and has offices in New York, Europe, including Limassol, and Tel Aviv.

It is focused on global tech companies originating from Europe and Israel.

The announcement noted that INXY has more than $500 million in annual transaction volume. Its platform enables businesses to accept, send, and exchange digital assets.

“The platform offers global reach to more than 193 countries, cost savings of up to 80 per cent on processing fees, and automated solutions like mass payouts with auto-conversion to fiat or stablecoins,” the announcement said.

It was also mentioned that the platform’s “compliance with EU regulations and advanced security measures, including KYB/KYC/KYT checks, ensure safe and hassle-free operations”.

“This investment validates our vision to make crypto payments accessible and compliant for businesses,” said Ruslan Zholik, CEO of INXY Payments.

“We’re excited to expand our global presence and continue driving innovation in the crypto economy,” he added.

On his part, Alexey Sidorov, Associate Partner at Flashpoint VC, said that the firm is “thrilled to lead INXY’s investment round and support their mission to bridge traditional finance with the crypto economy”.

“The crypto market is booming, with stablecoins surpassing $6 trillion in annual transactions and INXY is well-positioned to capitalise on this growth,” he added.

“I’m particularly glad to support a Cyprus-based company, reflecting Flashpoint’s commitment to backing globally oriented entrepreneurs from Europe and Israel,” Sidorov concluded.