Xclaim raises $7m for crypto trading platform for assets locked by bankruptcy


Xclaim, which claims to be the only independent trading platform for crypto assets locked by bankruptcy, has reportedly raised $7m in its Series A.

The investment was led by venture capitalist Josh Jones, according to a report from FinSMEs.

With this burst of equity, the company hopes to accelerate the adoption of bankruptcy claims electronically, which it will achieve through new financial products that boost market liquidity and accessibility.

Xclaim serves as an exchange for bankruptcy claims against crypto companies. It publishes real-time market value of claims and offers quick recoveries.

A user provides basic information that can be shared with other traders interested in buying the claim out of bankruptcy. The user can then compare multiple offers from a network of buyers. When they find the best offer, Xclaim will support the deal process and will handle all the paperwork.

 The company has listed over $600m of crypto claims from customers globally and traded over $200m in claims.

In other cryptocurrency news, Centurion Invest, a global ecosystem for financial and payment solutions, received $25m in fresh funding through a structured token subscription agreement. The Estonian FinTech company allows users to buy, sell and trade cryptocurrency. It boasts a community of over 10 million users and more than 300 different cryptos available to trade.

Elsewhere, multi-chain liquidity and data gateway LI.FI secured $17.5m in its Series A round. The FinTech company will use the funds to accelerate the development of LI.FI’s offering across more blockchains, DEXs, cross-chain bridges and more.

Keep up with all the latest FinTech news here.

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