### What is xMoney?

xMoney is a digital payments network aimed at facilitating fast and affordable cross-border transactions without the reliance on traditional banking systems. It supports both cryptocurrency and fiat payments, offering a comprehensive suite of tools for businesses to process payments efficiently and securely.

### How does xMoney work?

xMoney operates on the MultiversX blockchain network, having migrated from Ethereum in 2022. It utilises modern blockchain technology to provide a seamless user experience, handling transactions in both crypto and fiat currencies. The platform offers easy integration with e-commerce plugins and APIs, ensuring compliance with AML policies and secure transaction processing. It charges a flat 1% fee for transactions and supports settlement in both fiat and crypto currencies.

### What are the potential use cases for xMoney?

xMoney can be used in several areas, including:

- **E-commerce:** Helping online businesses accept cryptocurrency payments, which are automatically converted to fiat and deposited into merchant bank accounts.
- **Cross-border transactions:** Facilitating international peer-to-peer payments with lower friction than traditional methods.
- **Virtual wallets:** Providing an intuitive interface for currency conversion and enhancing the payment experience for merchants.
- **Invoicing and Payment Links:** Businesses can generate invoice requests in crypto with settlement in fiat, and create payment links for easy transactions.

### What is the history of xMoney?

xMoney was originally launched in 2018 as Utrust, founded by Artur Goulão, Filipe Castro, Nuno Correia, and Roberto Machado. In 2022, the platform was acquired by MultiversX and rebranded to xMoney, marking its transition to the more scalable and secure MultiversX blockchain. In 2024, Greg Siourounis was appointed as Co-Founder and CEO, overseeing the integration of blockchain-enabled payment infrastructure with a new stablecoin program. Over time, xMoney has expanded its market presence into Europe, gaining strategic licences and partnering with major financial entities like Mastercard.

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