Immix raises $3.5M to cut the cost of non-dollar stablecoin payments
What's the deal? London-based ImmixDealroom has a profile for this one. Try Dealroom → has raised $3.5 million in early-stage funding from Crane Venture PartnersDealroom has a profile for this one. Try Dealroom →, BTSE, and Portfolio VenturesDealroom has a profile for this one. Try Dealroom →. The trading firm helps payment companies exchange stablecoins between currencies, with a focus on markets beyond the US dollar. It will use the money to develop its pricing engine, expand liquidity, and grow its partner network.
What's the problem? Stablecoins move between digital wallets around the clock, but payment firms still need to convert between the assets they hold and the currencies customers want. Outside the dollar, fewer buyers and sellers mean a single conversion can split into three or four separate FX trades, each adding cost. Those costs cut directly into margins on cross-border payments.
What's the endgame? Immix combines an AI-powered pricing engine with institutional liquidity infrastructure to price and execute conversions. Its deep-learning models forecast conditions across thousands of instruments, and its systems have processed more than $25 billion in customer trading volume since 2024.
Who's behind it? Co-founders Andrew Mann and David Twomey both hold PhDs from UCL's computer science department and have held quantitative roles at Morgan Stanley, JP MorganDealroom has a profile for this one. Try Dealroom →, and Virtu FinancialDealroom has a profile for this one. Try Dealroom →.
"We're combining years of experience building high-frequency trading systems for institutional clients with AI pricing to reduce the cost and complexity of stablecoin FX, especially beyond the dollar," said Mann.
Why now? Investors frame non-dollar conversion as the next bottleneck for stablecoin adoption. "The next wave of stablecoin growth hinges on facilitating flows between FX and crypto markets at scale," said Jeff Mei, chief operating officer of BTSE.
The signal: At $3.5 million, the round sits in the lower band for early-stage deals — modest capital for infrastructure that aims to underpin stablecoin payments. But backers are betting that the plumbing for moving money beyond the dollar still has to be built, and that trading expertise is what will build it.
Read more: markets.financialcontent.com
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