- xMoney secures $21.5M funding led by Sui Foundation.
- XMN token set to launch in October.
- Aims to bridge traditional and blockchain finance globally.
xMoney secures $21.5 million in funding, spearheaded by the Sui Foundation, to bolster its role as a payment infrastructure provider linking traditional and blockchain finance. The launch of XMN token in early October aims to enhance governance and ecosystem growth.
With xMoney securing a significant $21.5 million in funding, the goal is to enhance stablecoin payment infrastructure globally, positioning itself as a vital player in finance.
xMoney’s recent funding success, led by the Sui Foundation and supported by MultiversX, reflects strong belief in its capacity to scale stablecoin payments. The company plans to leverage the $21.5 million funding to build robust infrastructure. MultiversX and the Sui Foundation are recognized leaders in blockchain technology, further endorsing xMoney’s vision.
Upon the launch of the native XMN token, xMoney could potentially influence market dynamics through innovations in governance and value-sharing. The company is licensed and compliant, signifying trust in its platform for stablecoin payments.
Greg Siourounis, Co-Founder & CEO, xMoney,”Stablecoins are no longer experimental. What they need is compliance, trust, and infrastructure to scale. MultiversX and Sui bring unmatched performance and security. xMoney makes them usable for payments everywhere. Together, we’re building the rails for the next era of global finance.”
Anticipated financial implications include wider stablecoin adoption and increased transaction volume in compliant markets. Regulatory triggers with the MiCA compliance label could elevate competitive advantages. Technologically, this venture might inspire further innovations in scalable crypto-finance solutions. The historic trend from similar funding successes suggests potential token appreciation post-launch. As the ecosystem evolves, further insights into the financial outcomes and technological progress of xMoney will unfold.
