Arx Research Raises $6.1M Seed to Launch Crypto POS Device
- Arx Research raises $6.1 million for crypto POS terminal.
- Castle Island Ventures leads funding round.
- Global terminal rollout planned; integrates fiat and crypto.
Arx Research, led by CEO Cameron Robertson, secured $6.1 million in seed funding to launch the Burner Terminal, a device enabling stablecoin and fiat payments for merchants.
The funding marks a significant step in mainstream stablecoin adoption, with major VCs backing the project, potentially influencing payment systems across Europe, the U.S., and Latin America.
Arx Research has announced a $6.1 million seed funding round to launch the Burner Terminal, a payment device accepting both stablecoin and fiat transactions. Read more about the launch.
The company, led by CEO Cameron Robertson, plans to use the funds for manufacturing and scaling the terminal globally, particularly in the U.S., Europe, and Latin America.
The funding round, backed by Castle Island Ventures and other firms, underscores institutional confidence in the adoption of crypto payment devices. Nic Carter of Castle Island Ventures highlighted the terminal’s potential to make stablecoins relevant for merchant transactions, creating implications for broader crypto adoption. “This funding round utilized a SAFE (Simple Agreement for Future Equity) structure but did not disclose the timing of the financing or post-money valuation.” – Cameron Robertson, Co-founder & CEO, Arx Research.
The initiative suggests a shift in the payments industry towards integrating digital and traditional currencies more seamlessly.
The introduction of the Burner Terminal could influence stablecoin transaction volumes, with potential market shifts expected as adoption broadens. Historical trends suggest similar products supported BTC and ETH usage increases, reflecting in the current project’s strategy. Explore Crypto Markets on Phemex.
