COINOTAG News reported on December 11 that Frex, an Indian blockchain-driven remittance venture, closed a ₹95 million Pre-Seed funding round, roughly $1.05 million, to accelerate its cross-border payout platform.

The financing was co-led by Zeropearl VC and White Venture Capital, with participation from a cadre of angel investors, signaling early-stage support for crypto-enabled payments in India.

Frex combines blockchain technology with partnerships with domestic banks to offer real-time remittance services, targeting immigrants and overseas workers by lowering settlement times and costs, while maintaining regulatory compliance and auditability.