Xago, a company based in South Africa blockchain payment platformtoday announced its support for the EUR with the launch of its latest stablecoin – XEU – backed 100% by fiat.
XEU allows purchases, transfers and payments in euros, safelycompliant and in a few minutes.
Recently, Xago also announced the launch of British Pound, US Dollar and USDC on its payment gateway and exchange which is developed on the XRP ledgeradding to previously supported ZAR and XRP.
“According to African Center for Strategic Studies, the number of people who have migrated from Africa to Europe since 2010 has doubled and currently exceeds 11 million. The cost of sending money to and from Africa is higher than on any other continent and can take over a week to arrive. One of the reasons we founded Xago is to enable our corporate customers such as banks to offer their customers instant, low-cost options when they simply need to send money to their family.
– Jurgen Kuhnel, co-founder and chief commercial officer of Xago
Xago’s newest product, Xpedite, is a white label international money transfer solution, developed for banks and retailers to offer a faster and cheaper option for their customers to send money n anywhere, anytime.