Xago, a South Africa-based blockchain payment platform, announced today support for EUR with the launch of its latest stablecoin – XEU – backed 100% with fiat.
XEU enables purchases, transfers, and payouts in euros, securely, compliantly, and within minutes.
Recently, Xago also announced the launch of British Pounds, US Dollars, and USDC on its payment gateway and exchange which is developed on the XRP Ledger, adding to prior supported ZAR and XRP.
“According to the Africa Centre for Strategic Studies, the number of people who have migrated from Africa to Europe since 2010 has doubled and is currently over 11 million. The cost of sending money into and out of Africa is higher than any other continent and can take over a week to arrive at its destination. One of the reasons we founded Xago is to enable our corporate clients such as banks to offer their customers instant, low-cost options when they simply need to send money home to their families.”
– Jurgen Kuhnel, Co-Founder & 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 clients to send money anywhere, anytime.