Xago Expands Globally, Secures AUSTRAC Registration, Adds Currencies
Xago, a South African crypto fintech company, has made significant strides in expanding its global footprint. It has established Xago Australia Pty Ltd, securing registration with AUSTRAC as a Digital Currency Exchange (DCE), marking a strategic move into the Asia-Pacific region. This move underscores Xago's commitment to regulatory compliance.
Xago's CEO, Jurgen Kuhnel, announced the founding service in Estonia. The company has taken vital steps to make a tangible impact in global and emerging markets. It has secured AUSTRAC registration and expanded its currency offerings. Xago now supports seamless on- and off-ramp functionality for Nigerian Naira (NGN), enhancing accessibility to the African market.
Through a partnership with OpenPayd, Xago has bolstered its Euro (EUR) services with robust SEPA and SWIFT integration for smooth on- and off-ramping. Xago now facilitates transactions in six major currency-backed stablecoins: USD, GBP, ZAR, NGN, EUR, and AUD. These developments reflect the company's commitment to empowering individuals and businesses with accessible, compliant, and secure digital payment solutions.
Xago continues to reshape the international payments landscape through its innovative platform. It offers near-instant settlements, low transaction costs, and strong regulatory alignment across multiple jurisdictions. With its recent expansions and partnerships, Xago is poised to make a significant impact in the global crypto fintech scene.
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