Xago bullish, ready for fair crypto regulation

Xago bullish, ready for fair crypto regulation

The regulation of crypto assets in South Africa is anticipated to be sooner rather than later and Xago, an innovative Fintech based in Cape Town, announces that it is now updated its solution to cover what Xago’s compliance and business teams believe will protect its Clients. 

“Xago is extremely proud to be the first to implement the management of crypto allowances, referred to as Xago’s Discretionary Allowances (XDA), through our Platform.  Xago has proactively developed, and is monitoring and reporting on cryptocurrency transactions, including communication touch points guiding our clients through the process,” announces Mark Chirnside, CEO and Co-Founder of Xago.

As of Monday, the Chinese judiciary is reportedly investigating how to convict activities related to cryptocurrency. In the last week of September, China announced a complete ban on cryptocurrencies, negatively effecting the value of Bitcoin, Ethereum and other coins.  Chinese officials have taken steps for years to crack down on crypto with mixed effects and the global cryptocurrency market made a swift comeback, recouping its losses.

Fortunately other countries, like South Africa, have a more collaborative approach as there can no longer be any doubt, crypto is here to stay and is, most likely, the future of money. The world is already well into the advance of digital currency and banks are realising that cryptocurrencies will have a fundamental effect on the way money is transferred around the globe. “In a world where customers hold the upper hand somewhat, digital trade and transactions have to be cost effective, efficient, secure and super-fast.  We believe that fair regulation of crypto assets will enable us to deliver these requirements to all consumers,” confirms Chirnside.

The changes being implemented are based on a Xago business decision and not necessarily a regulatory requirement of the crypto marketplaces.

For more information, please contact:

Cheridan Inglis
Chief Marketing & Information Officer
marketing@xago.io

Bringing certainty in uncertain times

Bringing certainty in uncertain times

In these times of unprecedented and permanent change, the new normal is uncertainty. True leadership, credibility and empathy will see us navigate successfully. Industry leaders and companies have a responsibility to show the character that creates a level of certainty at a time when pilfering and fraud is too commonplace.

But, as the axiom reads in Japan, this always presents the greatest opportunities. For a leader, for a company, for a country … for the global community.

Yes, the bigger existential questions always force us to re-think, as did the case for technology and social media in recent times. Just this time with the pandemic, our real existence came into question. What is the new normal we want to create? What are our responsibilities as leaders?

Since its inception, Xago has subscribed to, and enforced, strict Anti-Money Laundering and Counter-Terrorist Financing protocols, as well as championing fair regulation of the crypto industry.  Jurgen Kuhnel, CCO and Mark Chirnside, CEO and both Co-Founders of Xago, have been working closely with the relevant stakeholders within the Intergovernmental Fintech Working Group (IFWG) over the last year to do just that.

Chirnside confirms their views on being supportive of regulation, “Xago has been amongst the first to stand in line to work with the IFWG regulators to bring the regulatory treatment of crypto assets under observation and we are proud and honoured to participate as it bears testimony to the respect for and the credibility of our company in the domestic and global fintech space.”

Xago understands that the cryptocurrency market is heading for dramatic and lasting change. Once the black sheep of the financial world, crypto can now step into the mainstream with credibility.  Xago was established in 2016 and works with strategic partners and investors such as Imvelo Ventures, founded by Capitec Bank and Empowerment Capital Investment Partners. So how do people re-emerge into a world of disconnection and isolation? Research says we are now much more in tune with technology and humanity than ever before. The Xago solution to a global problem at this time is literally changing the finance world.  Cost effective, highly-secure, fast money transfers through Xago’s crypto rails certainly levels the playing field.

Change is a visible and tangible force for good. And levelling the world’s financial imbalances is the greatest act of service, especially in Africa.  What does this mean for you and your organisation?  It means that Xago is a well-known, established, trusted, credible crypto fintech with experienced leaders that understand their responsibilities to you and your clients.

Bringing you CERTAINTY.

Xago integrates with Bizzamm to scale legal compliance processes

Xago integrates with Bizzamm to scale legal compliance processes

Xago, an innovative crypto fintech that moves money at a fraction of the cost of traditional financial institutions, is pleased to announce a strategic partnership with Bizzamm, to empower exponential growth in real-time legal compliance processes.

Bizzamm, a provider of world-class legal expertise, offers on-demand legal and compliance tools for contract and organisation management, at exceptional value for money, when compared to other service providers. The global cryptocurrency market is growing at a CAGR of 60.2% over the next 5 years with Europe, Middle-East and Africa holding the largest share, according to Mordor Intelligence.

“Building highly-secure and legal digital solutions for our Partners and Clients is what Xago ascribes to. Integrating via API with Bizzamm’s real-time, document signing processes, will enable Xago to not only provide scalable and compliant solutions for our Business Partners, but comfort to our Clients that their personal information is secure,” confirms Mark Chirnside, CEO and Co-Founder of Xago Technologies.

Bizzamm now records each document that is signed onto the Ripple Ledger, tagging it with a transaction identification to show that the signature has been, in fact, actioned and making the document immutable.

“Bizzamm’s electronic signature and blockchain storage solution is an ideal fit for this type of requirement and offers a simple, seamless integration of the two systems via API. It goes a long way in minimising procedural risks associated with these transactions and carries a multitude of benefits for all involved parties, ” states Melanie van Biljon, CEO and Co-founder of Bizzamm.

Xago continues to develop highly secure, fast and legally compliant blockchain products and services including a payment gateway, trade exchange, fiat on- and off-ramps all based on trading ZAR/XRP cryptocurrency on Ripple’s XRP Ledger and the partnership with Bizzamm is an obvious next step.

About Bizzamm

Bizzamm was founded by a talented group of lawyers, software engineers and finance advisors, all of whom are also business operators who have experienced all the current challenges of contract and document management.  Drawing from their extensive experience (collectively over 100 years) in legal, financial and software development, uniquely enables Bizzamm’s qualified team to provide a host of intuitive, technologically advanced document and process management tools. www.bizzamm.com

 

For more information, please contact:

Cheridan Inglis, Chief Marketing Officer

Xago Technologies (Pty) Ltd.

marketing@xago.io 

African fintech innovators, Xago & NaijaCrypto, collaborate to deliver trusted money movement

African fintech innovators, Xago & NaijaCrypto, collaborate to deliver trusted money movement

As Xago continues to expand its credible transactional services into Africa, it announces its latest collaboration with NaijaCrypto, a state-of-the-art blockchain technology company based in Nigeria.

“Our partnership with innovator NaijaCrypto, empowers individuals and businesses to transact between South Africa and Nigeria highly securely, within seconds and at a fraction of the cost of traditional financial institutions.  With the amount of trade between the two countries, and the expat communities living in each, our joint offering is an obvious choice” says Kevin Lewis, Chief Revenue Officer of Xago.

According to Al Jazeera, the independent news organisation, Nigeria exports US$3.83bn worth of goods to South Africa and US$514.3m of South African products are exported to Nigeria annually. Business owners and individuals can now transfer funds between the two countries without delay, at a very low cost and all the while being certain that they are working with credible organisations.

“We are very pleased with this partnership and have specifically chosen Xago as both companies take the security and privacy of clients’ digital assets very seriously. We continuously work to enhance the extensive security measures we already have in place today which cover the integrity and continuity of the range of NaijaCrypto services,“ comments Chiagozie Iwu, NaijaCrypto’s Chief Executive Officer.

Xago has, and will continue to champion fair regulation of crypto assets, working closely with the official regulators to ensure a safe, secure and more effective use of the technology.

About NaijaCrypto

NaijaCrypto is a premier cryptocurrency exchange platform offering state-of-the-art services. We offer efficient trading tools as well as giving our customers innovative products that leverage the benefits of blockchain technology. In addition to a suite of advanced trading features and charting tools, NaijaCrypto provides access to an OTC market for a wide selection of digital assets. NaijaCrypto’s strategy focuses on providing unparalleled support, tools, and innovation for professional traders and liquidity providers around the world. NaijaCrypto is a solution offered by CI Cryptosolutions.  https://naijacrypto.com

For more information, please contact:
Cheridan Inglis
Chief Marketing & Compliance Officer
marketing@xago.io

 

Xago continues its growth trajectory by securing further funding

Xago continues its growth trajectory by securing further funding

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

Mark Chirnside, Xago’s CEO and a Co-founder is pleased with this vote of confidence and comments, “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.”

Crypto exchanges, ecommerce platforms, financial institutions, retailers, business owners and individuals partner with Xago to experience extremely efficient and cost-effective money movement across borders within seconds. By utilising their stable coin XZR, pegged 1:1 with the South African Rand, and the XRP Ledger which transfers money in less than 4 seconds, Xago minimises 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.

The company, especially its founders, have always championed fair regulation of the crypto industry and they been working closely with the South African regulators since January of this year.  Xago has, and will continue to, require all clients to comply with the Financial Intelligence Centre Act (FICA) in order for us to maintain strict Know Your Customer (KYC) and Anti-Money Laundering standards and the FATF Travel Rule.

For more information, please contact:

Cheridan Inglis, Chief Marketing & Compliance Officer

marketing@xago.io

 

 

Xago, Timeless Capital Team Up to Empower Entrepreneurs in Africa

Xago, Timeless Capital Team Up to Empower Entrepreneurs in Africa

Timeless Capital has chosen Xago’s bespoke crypto Payment Platform and Trade Xchange to open up markets with entrepreneurs in the rising economies of Africa.

Mark Chirnside, CEO and Co-Founder of Xago, states, “we are very pleased to partner with a future-focused company like Timeless Capital Technology.  It is perfect timing as we have developed, tested and launched the functionality they require to bring stable coins to their clients across the continent in less than 4 seconds and at a fraction of traditional banking costs.”

Donaldson Sackey, former Togolese international soccer player, and now crypto entrepreneur, is very pleased with the perfect match between Xago and his new venture, Timeless Capital Technology.  “Partnering with Xago is one of the best business decisions we have made as they are a highly credible and trusted organisation bringing crypto solutions and financial independence to clients across the globe, who cannot afford to pay traditional financial fees,” remarks Sackey.

By utilising Xago’s bespoke crypto Payment Platform and Xchange, Timeless Capital will not only be able expedite their go-to-market strategy, but they will also be able to offer their clients transactions that are highly secure, legally compliant, cost effective and extremely fast.

Timeless Capital’s Coin Ecosystem of Decentralised Applications provides the building blocks for entrepreneurship and economic opportunity.  They are currently working with 9 different countries in Sub-Saharan Africa and in discussions with more in north Africa.

About Timeless Capital Technology  

The Timeless Capital Technology is a cryptocurrency-powered by a blockchain-based ecosystem of tools and services designed for entrepreneurs in the rising economies of Africa and beyond. The Timeless Capital crypto coin (TCC) allows entrepreneurs to exchange their fiat currencies into a cryptocurrency. It helps them overcome key hurdles, such as high inflation, government mismanagement funds, and corruption. Timeless Capital contributes to humanitarian projects in partnership with the Innovate Finance Foundation (IFF). www.timeless-capital.io

 

For more information, please contact:

XAGO TECHNOLOGIES (PTY) LTD

Cheridan Inglis, Chief Marketing Officer

marketing@xago.io