xMoney & UTK Growth Blueprint - The Future of Digital Payments: A Unified Crypto-Fiat Payment Network

1. xMoney’s Goal

The rapidly evolving landscape of digital payments has witnessed the emergence of cryptocurrencies alongside traditional fiat currencies. Looking towards the future, xMoney is on a path to create a new digital payment network that could combine the benefits of both crypto and fiat payments.

xMoney’s Unified Crypto-Fiat Payment Network is a digital payment infrastructure that seamlessly integrates both cryptocurrencies and traditional fiat currencies, providing people, businesses and merchants with a comprehensive and convenient payment solution.

Here are some key and necessary components that such a network would gradually incorporate:

Stage 1

✅ User-Friendly Interface

The network would prioritize user experience by providing a user-friendly interface that simplifies the process of sending, receiving, and converting funds. The interface would be intuitive and accessible to users with varying levels of technical expertise, ensuring a seamless payment experience.

✅ Multi-Currency Wallet

Users would have a single wallet that supports multiple cryptocurrencies and fiat currencies. This wallet would allow users to store, manage, and transact with different forms of digital and traditional money in one place.

✅ Instant Currency Conversion

The network would provide real-time and automatic currency conversion between crypto currencies and fiat currencies. Users would be able to transact with any supported currency, and the network would handle the conversion seamlessly in the background, ensuring smooth and efficient transactions.

✅ Merchant Integration

The payment network would offer integration options for merchants, allowing them to accept both crypto and fiat payments. This integration could be facilitated through payment gateways, APIs, or software development kits (SDKs), enabling businesses to expand their customer base by accepting a wider range of payment options.

✅ Security and Privacy

The unified network would employ robust security measures to protect user funds and transaction data. It would leverage advanced encryption algorithms, multi-factor authentication, and decentralized technologies like blockchain to ensure the security and privacy of transactions.

✅ Regulatory Compliance

The network would adhere to relevant regulatory frameworks, including anti-money laundering (AML) and know-your-customer (KYC) requirements. It would implement necessary measures to ensure compliance while maintaining the privacy and security of user information.

Stage 2

✅ Mobile and Online Payments

The network would support mobile and online payments, allowing users to make purchases or transfer funds using their smartphones, tablets, or computers. Integration with popular mobile payment apps and e-commerce platforms would further enhance the network's usability and reach.

✅ Cross-Border Transactions

The payment network would enable fast and cost-effective cross-border transactions. By leveraging the speed and efficiency of cryptocurrencies, users would experience reduced fees and shorter settlement times compared to traditional remittance methods.

Financial Services Integration

The unified network could partner with financial institutions to provide additional services such as savings accounts, lending, and investment options. This integration would bridge the gap between the crypto and traditional financial systems, offering users a broader range of financial opportunities.

Scalability and Interoperability

The network would be designed to handle high transaction volumes and ensure interoperability between different cryptocurrencies and fiat currencies.

By combining the strengths of cryptocurrencies and traditional fiat currencies, a Unified Crypto-Fiat Payment Network has the potential to reimagine the way we transact and bridge the gap between the existing financial systems.

Here are some of the most important benefits and advantages of a unified payment network:

Seamless Integration

With xMoney, users would experience seamless integration between cryptocurrencies and fiat currencies. They will effortlessly transact with both forms of currency using a single interface, eliminating the need for multiple payment platforms. This integration would bridge the gap between the crypto world and the traditional financial system, offering convenience and ease of use.

Enhanced Security

One of the inherent advantages of cryptocurrencies lies in their robust security features. By integrating crypto payments into the network, users would benefit from enhanced security measures, such as cryptographic encryption and decentralized validation mechanisms. The use of smart contracts and blockchain technology would further bolster transactional security, reducing the risks associated with fraud and identity theft prevalent in the current payment systems.

Global Accessibility and Inclusion

The inclusion of crypto and fiat payments in a unified network would foster greater financial accessibility and inclusion. Cryptocurrencies operate without the limitations of borders and intermediaries, allowing for instant cross-border transactions and reduced remittance costs. Individuals in underbanked regions would gain access to a broader range of financial services, empowering them to participate in the global economy.

Reduced Transaction Costs and Speed

Traditional payment systems often involve high transaction fees and lengthy settlement periods. By leveraging cryptocurrencies within the unified network, users can enjoy lower transaction costs, particularly for cross-border payments. Moreover, the inherent speed of crypto transactions, facilitated by blockchain technology, would expedite payment settlements and improve overall efficiency, benefiting businesses and individuals alike.

Financial Sovereignty

Centralized financial institutions wield significant control over traditional fiat payment systems, which can limit individual financial sovereignty. In a unified crypto-fiat payment network, individuals gain increased control over their finances. Cryptocurrencies enable users to have full ownership of their assets, providing financial autonomy and protection against potential inflationary risks.

Innovation and Entrepreneurship

The integration of crypto payments within the unified network would foster innovation and entrepreneurial opportunities. With cryptocurrencies, the entry barriers for startups and small businesses would be reduced, as they can access a global customer base without the need for extensive infrastructure or intermediaries. This would encourage the development of innovative financial solutions, further driving economic growth and technological advancement.

As we look towards the future, a unified digital payment network that combines crypto and fiat payments presents a compelling vision. The seamless integration, enhanced security, global accessibility, reduced costs and increased speed, financial sovereignty, and innovation opportunities collectively form a compelling case for its superiority over existing solutions.

By embracing such a network, we can shape a future where individuals and businesses alike benefit from a unified and inclusive financial ecosystem that transcends the limitations of the current payment systems.

2. UTK 3.0 - Design, Economics, Benefits

Token Context and Reasoning

The UTK token was introduced in 2017 as an ERC20 token on the Ethereum blockchain with a predetermined maximum supply of 1 billion UTK as stated in the whitepaper at that time. Influenced by community feedback and market conditions during the ICO, the decision was made to burn and remove 500 million UTK from circulation before the actual token's launch.

In early 2022, UTRUST, the company behind the UTK-powered Utrust platform, was acquired by Elrond, now known as MultiversX. Following this acquisition, uTrust became part of the MultiversX family, and the UTK token was deployed on the MultiversX blockchain as an ESDT token, co-existing with the original ERC20 version of UTK on the Ethereum blockchain. This dual-presence is upheld via the MultiversX bridge found at: https://bridge.multiversx.com/.

Transitioning to the MultiversX blockchain has provided immediate advantages for UTK, such as faster transaction confirmations, lower fees, listing on top decentralized exchanges (DEXs) built on MultiversX like xExchange, and integration with the xPortal app, a non-custodial wallet used by over a million users.

In light of UTK's availability on the MultiversX blockchain, the teams of Utrust and MultiversX came to a consensus in February 2022 to introduce a fresh tokenomics model for the UTK token, dubbed UTK 2.0. The core objective of UTK 2.0's tokenomics was to facilitate the continued evolution and expansion of the Utrust platform by incorporating new features and services such as cashback for users and merchants, and staking.

In March 2022, MultiversX, formerly known as Elrond, further announced the acquisition of Twispay, a Romanian e-money institution and fiat payment provider. With the combined acquisitions of Utrust and Twispay, MultiversX is now able to support both fiat and cryptocurrency payments. This development led to the announcement, during the xDay conference in November 2022, that Twispay and Utrust would merge into xMoney, a consolidated crypto-fiat payment network.

In alignment with the announced xMoney goals, an update to UTK's tokenomics will benefit all the players by leveraging the next expansion step of xMoney.

Thanks to the xMoney integration into the MultiversX ecosystem, xMoney is in a position to have better technology, a vertically integrated product, and new features and product modules. But in addition to all that, 100x more community, 100x more users and investors, 100x more partners, 100x more business integrations. This leads to volumes, token alignment, and expansion.

Guilds, an important catalyst for growth

Proof of Stake (PoS) protocols, exemplified by platforms such as MultiversX, establishes network security and transaction validation through validators who engage in "staking" their tokens. Additionally, they may incorporate tokens delegated to them, ensuring their eligibility to contribute towards fortifying the blockchain and verifying each block. In the context of a PoS blockchain, token staking and locking prove to be fundamental for maintaining network health.

In our "Guilds" initiative, we have sought to incorporate and augment these concepts, thus enhancing the significance and utility of token staking and locking within xMoney network. Consequently, rather than simply engaging in token staking and locking for a predetermined duration and subsequently unlocking certain benefits such as cashbacks, we have introduced the concept of Guilds. These bear some resemblance to the validators within PoS blockchains, but also offer unique features.

Let's delve into the similarities. Any user can establish a Guild (staking pool) and assume the role of a Guild Master (validator), provided they pledge (lock) a minimum number of UTK and feature among the top Guilds eligible for activation at any given time. (We will initially limit the number of active Guilds to 50, but will expand this over time).

Users can pledge (stake/delegate) any amount of UTK they prefer, by choosing one or multiple Guilds (validators). While the standard Annual Percentage Rate (APR) and cashback remain constant across Guilds, certain distinctions do exist, which we shall discuss later.

Now let’s examine how Guilds differ. Despite their initial similarities, we anticipate that over time Guilds will begin to diverge in their offerings and the process of selecting a Guild will become increasingly crucial. This is due to the ability of each Guild Master to elevate their Guild by offering additional benefits beyond the standard ones. They will have the opportunity to form unique partnerships and agreements with merchants and sponsors and provide additional rewards such as bonuses, discounts, loyalty points, NFTs, etc. The potential for Guild enhancement is limited only by the Guild Master's creativity, their negotiating skills, their ability to promote their Guild, and attract more users.

Consequently, we assume that Guilds represent more than just staking pools; they essentially serve as conduits connecting shoppers with merchants. We plan to develop tools for Guild Masters that will facilitate the efficient deployment, tracking, and management of discounts, loyalty bonuses, and more.

By instituting this structure and incentives, Guild Masters are motivated to draw more users to stake in their Guilds. Moreover, they have a direct incentive to secure exclusive deals and promotions from merchants and sponsors, thereby distinguishing their Guild and driving more sales.

Over time, we foresee the emergence of more specialized Guilds, either catering to specific regions or countries, or focusing on particular niches such as tech, fashion, or groceries. We also anticipate the involvement of a diverse set of Guild Masters from various backgrounds and passions, including influencers, streamers, entrepreneurs, e-commerce platforms, merchants, etc.

The Guild strategy will foster a robust environment and potent network effect, ultimately creating a positive feedback loop that will attract more users, draw more merchants, and stimulate increased sales.

Token economics

Below we present the UTK 3.0 token economics model, insights and benefits. This ties together the most important lessons and aligns strategic stakeholders with the growth of the ecosystem.

Current circulating supply
xMoney Logo
Rewards & Cashback
xMoney Logo
Reserve Pool
xMoney Logo
  1. Current circulating supply: 651,731,810 UTK
  • 500 Mil UTK (TGE on 2017 on Ethereum chain)
  • 70 Mil UTK minted for staking rewards on xExchange (approx. 36 Mil UTK still available)
  • 50 Mil UTK minted for Metabonding rewards on xExchange (approx. 35 Mil UTK still available)
  • 2 x 15.75 Mil UTK minted here and here for Marketing and Development efforts

2. Rewards & Cashback: 225,000,000 UTK
3. Reserve Pool: 123 268 190 UTK

Thus Max. Supply: 1,000,000,000 UTK, as was envisioned initially in the 2017’s whitepaper.

Incentives, alignment, growth

The primary purpose of UTK and its tokenomics is to jumpstart and reinforce desired behaviors like accepting crypto and fiat for businesses, and users paying in any currency of their choiceand paying with the same for users so that the desired outcome would be: more businesses will be onboarded into the ecosystem and a larger TPV (Total Processed Volume) is achieved.

Here are the main stakeholders, the flywheel they form, and the incentives that are setting the flywheel in motion and reinforcing it:

Circle visual representing Ecosystem Partners, Business, Token Holders, Users. Encapisalitng the xMoney logo


As the primary focus of a B2B business model, the community should prioritize crafting a compelling, straightforward, and exciting proposition for businesses. Beyond the advantages of accepting cryptocurrencies, xMoney offers opportunities for merchants to expand their brand and boost sales by joining one or more Guilds and/or offering rewards and incentives to these Guilds and their users. The community might consider providing merchant cashback and/or promotional zero transaction fees to attract new merchants.


The model promotes incentives for users to continue shopping with merchants and partners in the ecosystem. Growth and reinforcement incentives are tied to Guilds where users can lock their tokens for rewards (up to 15% APY), and cashback rewards (up to 8%) for all purchases made on the xMoney network or with xCard.

Token Holders

We aim to establish straightforward and aligned incentives for users to retain Tokens and contribute to the network by introducing xMoney to new businesses and participating in the expansion and success of the xMoney merchant network by establishing Guild pools or joining one.

Ecosystem Partners

These include cryptocurrency exchanges, e-commerce platforms, payment companies, and financial institutions. They are encouraged to pledge and hold UTK tokens in correlation with their client network size and anticipated transaction volume via xMoney’s services. UTK holders who pledge their tokens can gain access to various tiers of DeFi products and services depending on the size and duration of the pledge, potentially in the form of spending rebates, and pledge yields, among others.

Please be aware that any Token incentives are simply additional aspects of the ecosystem and do not replace the fundamental self-sustaining value proposition or function of the xMoney business model and solution.

In short, the most important benefits unlocked and enabled are:

  1. Rewards in the form of UTK cashback - obtainable through the xPortal app, depending on the purchases you make at any xMoney merchant or via xCard (online or offline at any merchant not only xMoney’ merchants).
  2. Rewards in UTK for locking UTK into one or more staking Guilds.
  3. Guilds as the mechanism tying everything together and expanding utility by giving Guild Masters the tools and possibilities to experiment with:
    • buybacks & burns
    • new loyalty programs
    • different cashback programs
    • discount or bonus programs

3. Product modules and roadmap

The first step has already been done by unifying our services under xMoney, to offer a simpler and more compelling value proposition to users, businesses and merchants around the world.

With the new modules and solutions, the xMoney flywheel becomes stronger and more exciting.

More businesses being served, more users being served, more investors getting involved.

Thus, xMoney is set to gradually introduce a variety of products throughout 2023 in order to strengthen and accelerate the flywheel effect. Some of these product modules are:

xMoney Pay Links
Share a payment link. Get paid in crypto or fiat.
xMoney Crypto Pay
Cryptocurrency payments
xMoney Pay Request
Issue or collect invoices, with no limitations
xMoney Onramp
Purchase cryptocurrency with debit/credit card
xMoney Fiat Pay revamped
Accept traditional card payments
xMoney Offramp (potentially Q4)
Convert cryptocurrencies into fiat
xMoney IBAN (potentially Q4)
Convert cryptocurrencies into fiat and transfer money to a bank account
xMoney Pay Request Fiat (potentially Q4)
Generate invoices for fiat payments
Q2 2023

xMoney Crypto Pay

A sophisticated payment solution allowing merchants to accept cryptocurrency payments in their physical and online stores. It features an intuitive interface and seamless integration.

Q2 2023

xMoney Crypto Invoices

An adaptable invoicing tool for businesses looking to accept cryptocurrency payments. It allows users to create custom invoices with QR codes for easy payment processing.

Q3 2023

xMoney Onramp

A simple tool for users to purchase cryptocurrencies with credit/debit cards or bank accounts. It simplifies digital asset acquisition.

Q3 2023

xMoney Fiat Pay

A comprehensive payment gateway enabling merchants to accept traditional card payments both in-store and online. It streamlines transactions and supports major credit and debit cards.

potential Q4 2023

xMoney Offramp

A service allowing users to convert their cryptocurrencies into fiat and transfer funds directly to their bank accounts, simplifying the cash-out process.

potential Q4 2023

xMoney IBANs

A banking service providing users with their own International Bank Account Number (IBAN) within the xPortal app, allowing them to manage finances, send and receive funds, and access traditional banking benefits from one platform.

potential Q4 2023

xMoney Fiat Invoices

Simplify the process of accepting crypto payments with our versatile invoicing tool. Generate custom invoices that include QR codes for effortless payment processing.

4. Conclusions, be an active part in growth

Here’s how you can get involved and support the continued growth of xMoney & MultiversX Ecosystem.

This new chapter requires focus like never before. It needs the energy of not just a team, but a community, a network, and an ecosystem.

  1. Provide feedback. Meet with the xMoney community to discuss, share opinion and constructive feedback.
  2. Make your voice heard. This is the moment to rally around our common goals, and bring UTK and xMoney technology to the masses. Join the movement. Spread the word wherever you may be, it helps much more than you think.
  3. Go beyond: Encourage friends & family to move beyond their comfort zones to try new things, learn new stuff, and discover UTK utilities that are unfamiliar. xPortal is the best place for it.
  4. Promote a growth mindset: Share stories of mistakes and failures in finance or banking, and what you learned from them. We put a focus on web2, since we are building a better alternative with Web3.
  5. xPortal is the solution. Make use of it. It is the easiest way for your family and friends to join this space. If each one of us onboards one person per week, very soon we will be taking over the world. Make it a personal mission. Become part of this unstoppable army.
  6. Build on MultiversX. Join the builders discord. Start playing with the technology. Build relationships with other builders. Contribute to open source modules. Launch products and startups, invite the most resourceful and passionate community in the world to join you.
  7. Organize small meet-ups in your location. Tell us about your plan and we will try to help. Either by sending a member of the team to join you, or by providing you with tools to better spread the message.
  8. Know a business that might benefit from our tools? Whether that’s xMoney, xFabric or any of the others - drop us a note, we can’t wait to share how our solutions can add to any business.

xMoney marks a significant step towards closing the divide between the worlds of cryptocurrency and fiat currency. By unifying them, xMoney is set to provide a swift, secure, and convenient payment network, universally accessible to all.

This will be executed gradually, in several phases and steps.

xMoney transcends the conventional payment processor; it represents a payment infrastructure powered by the advanced MultiversX technology, supplemented by the xPortal Super App and xCard, and propelled by its growing community of dedicated users and partners.

xMoney's aim is to accelerate the evolution of finance and commerce, deliver frictionless shopping experiences to consumers and merchants, all built on top of an open, transparent, inclusive, and sustainable financial ecosystem.

Together we build, together we grow. Join us on this remarkable journey.


On UTK 3.0

What will happen with Metastaking on xExchange?

Liquidity providers for UTK/EGLD will be able to stake their LP token into Guilds.

What will happen with Metabonding on xExchange?

Metabonding program duration was envisioned to last for 2 years. We are already in the second year and the Metabonding rewards will continue until the second year is concluded or the Guilds go live, whichever comes first.

What are the staking APY options?

Right now we are exploring the following options: 8% APY if you stake for at least 3 months, 10% for least 6 months, 15% for least 1 year. You can maintain the same APY after the locking period ends as long as you do not unstake any UTK.

What cashback tiers to expect?

Cashback will be available to those that stake into xMoney Guilds. However, there might be a free tier for new users, that might get a one-time cashback (eg. 0.25%) on their first purchase (claimable only on xPortal App).

An example of tiers could look like this:

  • Standard Tier: 0.25% cashback; +1 000$ worth of UTK staked
  • Tier 1: 1% cashback; +2 000$ worth of UTK staked
  • Tier 2: 2% cashback; +20 000$ worth of UTK staked
  • Tier 3: 5% cashback; +150 000$ worth of UTK staked
  • Tier 4: 8% cashback; +300 000$ worth of UTK staked

Notice: these are not final numbers, and some terms and conditions will apply

On Guilds

  1. There will be several tiers with varying caps of pledged amounts, and more cashback for each of the tiers.
  2. A Guild can be created by anyone, but a limited number will be available at the beginning.
  3. In order to create a Guild a minimum of UTK needs to be pledged.
  4. The top Guilds with the minimum of UTK pledged will be part of the first wave. More waves might come in the future if enough demand is building up.
  5. Anyone who will want to pledge UTK will need to choose one of these Guilds that will offer an APY of up to 15% proportional to the period of time UTK is locked (i.e. UTK pledges translate into more significant rewards).
  6. “Guild Masters” (the DeFi pool owners) will be entitled to an additional 10% bonus of the total rewards the Guild generates. For example, if the average APY of the Guild is 10% the owner will receive 1% for all the value pledged.
  7. In addition, the Guild Master will receive 10% cashback out of the total cashback paid to the Guild members. For example, if the average cashback paid is 2% of the value purchased, then the Guild Master will get 0.2% of that value.
  8. The initial deposit locked by the Guild Master to create the Guild will generate the maximum APY of 15%, but the initial deposit needs to be locked for at least 6 months, and cannot go below the minimum.

Governance timeline

Step 1

29 June

Announce there will be a governance call for UTK 3.0
Step 2

4-6 July

• UTK 3.0 presented
Step 3

24-30 July

Random snapshot of UTK holdings on all addresses on MultiversX blockchain
Step 4

7-13 August

Voting period

Step 1 - 29 June- Announce there will be a governance call for UTK 3.0 and a few details:

  • only UTK ESDT will be considered for the vote and only MultiversX addresses will be eligible to vote (based on the UTK hold) so people are encouraged to bridge their UTK ERC20 if they want to vote (though Binance or MultiversX bridge)
  • simple majority and maybe the min. quorum required (risky)

Step 2 - 4-6 July - UTK 3.0 presented + AMA

Step 3: 24-30 July - a random snapshot of UTK holdings on all addresses on MultiversX blockchain (including met staking positions, farms, and liq. pools on xExchange)

Step 4 - 7-13 August voting period