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Arx Research has completed a $6.1 million seed funding round with Castle Island Ventures leading the investment.
BlockBeats News, November 6th, Hardware and software company Arx Research announced the completion of a $6.1 million seed round of financing, led by Castle Island Ventures, with participation from Inflection, Placeholder, Seed Club Ventures, and 1kx among other institutions. Arx Research co-founder and CEO Cameron Robertson stated that 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.
This round of financing will be used to launch the "Burner Terminal," a handheld sales terminal device that integrates digital assets with traditional payments. The terminal is capable of accepting stablecoins, contactless payments (such as NFC), and chip + PIN cards simultaneously, and has received EMV certification to ensure it meets international standards in terms of security, compliance, and compatibility with existing payment systems.
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