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According to ChainCatcher, foreign exchange trading startup XFX, which supports stablecoin trading, has completed a $17 million financing round led by Castle Island Ventures, with participation from Haun Ventures and a certain exchange. XFX co-founder and CEO Santiago Alvarado declined to disclose the company’s valuation for this round. It is reported that currently, in addition to allowing customers to exchange between stablecoins, XFX also allows the exchange of three fiat currencies: US Dollar, Mexican Peso, and Colombian Peso.

Glonghui March 26｜To avoid the risks brought by the Iran war, investors are selling stocks and bonds and increasing their cash holdings, mirroring the strategy adopted after Russia invaded Ukraine in 2022. The latest survey by Bank of America on fund managers this month shows the largest increase in fund managers’ cash holdings in six years. Meanwhile, JPMorgan strategists said this week that position adjustments in response to the conflict may be far from over. JPMorgan’s team, led by Nikolaos Panigirtzoglou, stated in a report that as long as geopolitical and macro uncertainties remain high, the current cash allocations, which are still below historical levels, will negatively affect stocks and bonds in the future. Investors have been simultaneously selling stocks, bonds, and gold, preferring to increase cash holdings. However, compared to the outbreak of the Russia-Ukraine conflict, the level of cash in portfolios remains moderate.

The factory is scheduled to achieve full-scale production and operation in fiscal year 2026.