xMoney Secures $21.5M Funding to Boost Global Payments and Native Token Rollout
xMoney, a payments company facilitating transactions with stablecoins in global commerce, has successfully closed a strategic funding round, securing a notable $21.5 million investment. This funding, spearheaded by the Sui Foundation, marks a significant step in xMoney’s journey to revolutionize the payments landscape, particularly within the African tech ecosystem where innovative financial solutions are increasingly vital. The influx of capital will facilitate growth and the rollout of the company’s native token, XMN.
Expanding Global Payments Reach
xMoney’s robust infrastructure includes its operational status as a MiCA-compliant Electronic Money Institution and its PCI DSS Level 1 certification, ensuring secure transactions. Furthermore, its principal membership with Visa and Mastercard underscores its credibility in the payment processing domain. The strategic funding will fuel the expansion of xMoney’s reach, contributing to its ability to support more than 5,000 merchants globally. The funding round was led by the Sui Foundation, with ongoing support from MultiversX, xMoney’s original contributor.
In conclusion, with the injection of $21.5 million in strategic funding, xMoney is well-positioned to continue bridging the gap between stablecoins and global commerce. This investment, backed by the Sui Foundation and MultiversX, will facilitate both the company’s growth and the launch of its native token. It can be seen as a good indicator of growth for the African tech landscape.
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