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Xago, Innovative Crypto Fintech Based in South Africa, Announces XUS Supporting the US Dollar

·1 min read

CAPE TOWN, South Africa, May 18, 2022--(BUSINESS WIRE)--Xago Technologies (Pty) Ltd. in CAPE TOWN, South Africa, announces the launch of Xago XUS which supports the US dollar, empowering clients to deposit and payout funds, with US dollars and USDC via the Xago platform.

Founded in 2016, Xago enables business and individual clients to send money instantly, at a fraction of the cost of traditional operators, all with the certainty that the transaction is highly secure, compliant, and knowing exactly when it arrives at its payout point.

"Countries in Africa are the poorest globally, yet individuals are being charged the highest international money transfer fees with up to 14.5% in South Africa as a prime example. Xago is committed to developing innovative, faster than-ever-before, low cost transaction and trading capabilities, bringing certainty to our clients at a time when the world is still reeling from the costs of the Covid pandemic. We are proud to announce the launch of the XUS stable coin which enables our clients from all over the world to transact with US dollars. The funds will now arrive at its destination in a matter of hours, not days, and for far less cost than even the global average of just over 6%. This is a first of many new stable coins to become available on Xago’s platform," confirms Mark Chirnside, CEO and Co-founder of Xago.

XUS is also available on Xago’s revolutionary mobile app, of which a new version was released recently. The app was developed with advanced (future generation) neuromorphic computing technologies to simulate human recognition to protect clients from any possible fraudulent activity. A world-first.

About Xago Technologies (Pty) Ltd.

Banks, eCommerce platforms, retailers, mobile operators, crypto exchanges, commodity companies and international business owners partner with Xago to transfer money into and out of Africa rapidly, securely, compliantly, cost-effectively and with CERTAINTY. Xago is audited by Mazars, our executive team works with the South African Financial Regulators (the IFWG) and has championed fair regulation of the crypto industry since inception. Xago harnesses the power of mobile, retail networks and blockchain technology in playing a crucial role to transform the payment industry by bypassing traditional payment costs and delays, with a focus on empowering people in Africa. www.xago.io

View source version on businesswire.com: https://www.businesswire.com/news/home/20220511005530/en/

Contacts

For more information, please contact:
Cheridan Inglis
Chief Marketing Officer
cheridan@xago.io