XREX, a blockchain firm enraged by inappropriate-border agencies that honest in emerging economies, on the present time presented the open of MyXchange, its contemporary currency Alternate-as-a-Service (EaaS) platform.
At open, the following trading pairs will be obtainable in cryptocurrency: BTC, BCH, ETH, XRP, USDT, and in fiat: USD, INR.
MyXchange makes it easy for any Cash Transfer Group (MTO) to urge a steady crypto-fiat change that parts rotund Know Your Buyer (KYC), Anti-Cash Laundering (AML), liquidity, wallet security, and fiat (US Dollar, Indian Rupee) on-off ramps. Within the identical manner that Shopify makes it easy to open an on-line retailer, MyXchange simplifies rising a steady change, passing alongside low charges with seamless inappropriate-border escrowed payments across emerging markets.
XREX is backed by well-identified project capital corporations AppWorks, WI Harper, BlackMarble, and CDIB (TWSE: 2883), alongside with Taiwan’s Nationwide Style Fund and Skype’s co-founders Toivo Annus and Jaan Tallinn.
The XREX MyXchange platform is a SaaS-based mostly completely, absolutely auditable reply. Licensed Cash Transfer Organizations (MTOs) / Cash Transfer Companies (MTSs), Cash Service Corporations (MSBs), and digital currency provider suppliers can relieve mitigate these disorders by the use of MyXchange to open their crypto-fiat exchanges. Till now, these MTOs get needed to both outsource this know-how or manufacture it from scratch.
Constructing an change in-residence requires huge sources to search out and pay liquidity suppliers, custodians, KYC suppliers, AML suppliers, and cybersecurity suppliers, to boot as convince banks to again as fiat on-off ramps. Outsourcing to an “change managed services and products (white designate) provider” most ceaselessly requires an investment of over $1 million.
“Mighty bask in building an e-commerce internet space was a prolonged, costly project on the flip of the century, rising an change is an onerous assignment on the present time,” mentioned Wayne Huang, CEO of XREX. “Extra MTOs search the benefits of offering their possess suite of digital currency services and products, and MyXchange gives instruments to build it more straightforward than ever to deploy a rotund-provider change.”
XREX has seen major traction among world MyXchange alpha testers, including retailers and MTOs in India, Africa, and the Heart East. The B2B world fee quantity is projected to reach $63 trillion by 2026 (3), pushed by an elevate within the provision of contemporary fee alternatives.
Rising market’s amplify in crypto adoption has given MTOs contemporary alternatives to relieve enterprises and retailers securely and successfully send money across emerging markets. With MyXchange, XREX gives all of the know-how wanted for MTOs to facilitate international change finance, whether it’s serving inappropriate-border commodity trading or providing fiat bridges for offshore dollar banking.