Stablecoin company BLOX closes $1 million seed round led by Kivo Technology

Comparatively, according to Fintech News, Malaysian stablecoin company BLOX announced the completion of a $1 million seed round, led by Kivo Technology, a technology investment unit under the Singapore Venture Capital Fund. The new capital was used to expand the development of MYRC, a stablecoin backed by Malaysian ringgit (MYR).

It is reported that BLOX has participated in a blockchain payment proof of concept project in Malaysia to explore blockchain-based local payment scenarios through MYRC.