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