LONDON (IT BOLTWISE) – Arx Research has closed a $6.1 million funding round to bring an innovative payment terminal to market. The ‘Burner Terminal’ allows merchants to accept stablecoins and traditional payment methods in one device. This development could revolutionize the way small businesses process payments.
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Arx Research, a company specializing in hardware and software development, recently closed a $6.1 million funding round. This was led by Castle Island Ventures, with participation from Inflection, Placeholder, Seed Club Ventures and 1kx. The financing will be provided through a Simple Agreement for Future Equity (SAFE), as announced by Arx Research co-founder and CEO Cameron Robertson.
The capital will be used to launch the ‘Burner Terminal’, a handy point-of-sale device that combines digital assets and traditional payments in one device. The terminal accepts stablecoins as well as contactless and chip-and-PIN cards and is EMV certified, ensuring security and compatibility with existing payment systems. EMV stands for the global standards of Europay, Mastercard and Visa for payment cards and terminals.
Nic Carter, founding partner of Castle Island Ventures, highlighted the importance of stablecoins for retail payments. The Burner Terminal makes stablecoins relevant for stationary trading for the first time. The compact device also integrates with the digital payment network Flexa, allowing merchants to optionally support Bitcoin, Ethereum, Solana and other cryptocurrencies.
Aimed at small merchants like food trucks and salons, Burner Terminal offers the ability to process crypto payments outside of the traditional EMV card infrastructure. Customers can pay with a phone, burner card, or scan a QR code with a supported wallet. With built-in WiFi and LTE, merchants can accept payments anywhere.
The fresh funds will also be used to scale production and expand the Burner ecosystem. Arx Research plans to expand its team to support distribution. The company is committed to making direct stablecoin payments as easy as traditional payments. The Burner Terminal builds on Arx Research’s previous Burner Wallet, which is already used by over 30,000 merchants and consumers.
The company plans to initially launch the Burner Terminal in the US, with expansion into the EU and Latin America once certified. Launch is scheduled for this month, with full commercial availability by early 2026.
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