xMoney (UTK), formerly known as Utrust, is a revolutionary cryptocurrency payment platform designed to bridge the gap between cryptocurrency and traditional commerce. Aiming to simplify the acceptance of cryptocurrency payments for businesses and consumers, xMoney is gradually establishing itself as a reliable and effective payment solution in the digital age.

I. Overview of xMoney (UTK)

1. What is xMoney?

xMoney is a cryptocurrency payment platform that allows users to conduct transactions for goods and services safely, quickly, and conveniently using cryptocurrency. This platform serves as a bridge between buyers and sellers, eliminating traditional barriers and providing a seamless payment experience for both parties.

2. Formation and development:

  • 2017: Utrust was founded with the goal of revolutionizing the online payment industry with cryptocurrency.

  • 2019: Launched the Utrust payment platform and the UTK token.

  • 2020 - 2022: Expanded partnerships with businesses, integrated additional cryptocurrencies.

  • 2023: Utrust was acquired by Elrond Foundation and rebranded as xMoney, marking a significant transition in its development strategy.

  • Currently: xMoney is focused on building a comprehensive payment ecosystem on the MultiversX network, aiming to become the leading payment solution for Web3 and the Metaverse.

3. Highlights of xMoney:

  • Safety and security: xMoney uses blockchain technology to ensure safety and transparency for transactions.

  • Quick and efficient: Transactions are processed quickly and efficiently, minimizing waiting time.

  • Low transaction fees: xMoney offers competitive transaction fees compared to traditional payment methods.

  • Convenient and easy to use: User-friendly interface, easily integrated into websites and applications.

  • Diverse cryptocurrency support: Allows payments in various popular cryptocurrencies, including Bitcoin, Ethereum, BNB, and stablecoins.

4. Vision of xMoney:

xMoney aims to be the leading cryptocurrency payment solution, promoting the adoption of cryptocurrency in daily life and building an open and inclusive decentralized financial ecosystem.

II. Evaluation of the advantages and disadvantages of xMoney

1. Advantages:

  • High security: Blockchain technology ensures safety and fraud prevention for transactions.

  • Fast transaction speed: Processes transactions quickly and more efficiently than traditional methods.

  • Low costs: Transaction fees are lower than credit card payment services.

  • Convenient: Easy to use and integrate into e-commerce platforms.

  • Transparency: All transactions are recorded on the blockchain, ensuring transparency and traceability.

  • Growth potential: The cryptocurrency payment market is rapidly growing, offering significant growth potential for xMoney.

2. Disadvantages:

  • Price volatility: The value of cryptocurrency can fluctuate, affecting transaction values.

  • Popularity: Cryptocurrency is still not widely accepted like traditional payment methods.

  • Technical requirements: Users need basic knowledge of cryptocurrency and digital wallets.

III. Founding team and Tokenomics

1. Founding team:

xMoney was founded by a team of experienced professionals in finance, technology, and blockchain. After being acquired by Elrond Foundation, the xMoney development team was reinforced by top engineers and experts from Elrond, contributing to the development and expansion of the project.

2. Tokenomics:

  • Token name: UTK

  • Blockchain: Initially on Ethereum (ERC-20), then migrated to MultiversX (ESDT).

  • Total supply: 500,000,000 UTK

  • Utility:

    • Payment for goods and services on platforms that accept xMoney.

    • Receive discounts and offers when using xMoney.

    • Participate in staking to earn rewards.

    • Used in DeFi applications on the MultiversX ecosystem.

IV. Notable events of xMoney

1. Funding round:

  • 2017: Utrust raised $5.6 million in an ICO funding round.

2. Events from 2017 - 2025:

  • 2017: Utrust was founded and the payment platform was developed.

  • 2019: Launched the Utrust payment platform and the UTK token.

  • 2020 - 2022: Expanded partnerships, integrated additional cryptocurrencies, and developed a mobile application.

  • 2023: Utrust was acquired by Elrond Foundation and rebranded as xMoney, transitioning to the MultiversX network.

  • 2024 - 2025: xMoney focuses on building a payment ecosystem on MultiversX, developing payment solutions for Web3 and the Metaverse, and expanding partnerships with businesses and projects in the blockchain sector.

V. Where to invest and buy tokens $UTK ?

You can buy UTK tokens on cryptocurrency exchanges such as:

  • Binance

  • Bitfinex

  • Gate.io

  • KuCoin

Note:

  • The value of the UTK token can fluctuate significantly; investors should conduct thorough research before deciding to invest.

  • Choose reputable and secure exchanges to ensure the safety of your assets.

Conclusion:

xMoney is a highly potential project in the field of cryptocurrency payments. Backed by Elrond Foundation and transitioning to the MultiversX network, xMoney has significant competitive advantages to succeed in building a comprehensive payment ecosystem for the Web3 era.

source: BLOGTIENAO - @Blog Tiền Ảo