South African-based money transfer platform, Xago Technologies has announced support for the British Pound with its XGB stablecoin to enable clients across the globe to purchase Pounds. 

XGB is backed 1:1 with the Pound and the platform will allow users to transfer money to pay-out points in minutes while maintaining the highest levels of security, compliance, and assurance.

In addition to the existing South African Rand and Ripple’s XRP, Xago recently announced the debut of US Dollars and USDC on its payment gateway and trade exchange with more currencies to follow soon.

Xago aims to empower Africans with revolutionary money solutions created with speed, efficiency, and low-cost transactional abilities for corporations, SMEs, and individuals. 

Their most recent offering is a white-labelled international money transfer service designed primarily for banks and shops to provide a quicker and more affordable option for their customers to be able to send money to their families back home.

According to the CEO and Co-founder of Xago, Mark Chirnside, 

 “Current international money transfers often take days for money to move from sender to recipient, with no confirmation on transaction finality and fees from all the parties involved can cost well above 10%, especially evident in sub-Saharan Africa. With Xago, it now takes minutes, and we are proud to say that our low fees are disrupting the global payments and money transfer industry.”

Xago hopes to uplift the people of Africa by using the strength of mobile, retail networks and blockchain technology to disrupt the payment industry by avoiding traditional payment charges and delays. 

The company is conducting demonstrations of the new and existing services and is calling on any interested party to book a demo or find out more on the Xago website.