OXIO raises $40M to bring tokenized telco model to US and Brazil

03/16 13:44

OXIO, a telecom-as-a-service (TAAS) platform that turns mobile data into blockchain-based digital assets, raised $40 million in a Series B funding round led by ParaFi Capital. Ascend, Leydon and CoinDesk parent company Digital Currency Group also participated in the Series B funding round and were joined by previous investors Multicoin Capital, Monashees, Atlantico Capital and FinTech Collective. The proceeds will be used to accelerate OXIO’s business in Mexico and expand its network to the U.S. and Brazil, Girard said, adding that it plans to boost the company’s product and engineering teams in the U.S. and Mexico.

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