South African crypto money transfer platform Xago secures new funding

Xago, a South African crypto fintech that focuses on an all-inclusive approach to money transfers, announced that it has raised further funding from shareholders to continue its growth trajectory by expanding in all aspects of the business.

Crypto exchanges, ecommerce platforms, financial institutions, retailers, business owners, and individuals partner with Xago to deploy efficient and cost-effective money movement across borders within seconds.

By employing their stable coin XZR, pegged 1:1 with the South African Rand, and the XRP Ledger, Xago minimizes the risk of currency exchange fluctuations while the transaction is taking place and also only charges a minimal fee compared to other money transfer companies.

“Since securing the last round of funding in September last year, Xago’s revenue has grown by well over 400% and the first 4 months of this year is over 700% up on the same 4 months of 2020.  Providing outstanding client service and working closely with strategic partners around the globe, has placed Xago in a unique position to continue to deliver agile, highly secure, fully compliant, and cost-effective solutions, rapidly.”
– Mark Chirnside, Xago’s CEO and Co-Founder