XREX Pioneers Enhanced Cross-Border Trading & Security For SMBs In Emerging Markets

INTRO: XREX solidifies its reputation in the blockchain financial sector and positions itself as a new financial institution, focusing on providing smooth cross-border payment and crypto investment services for emerging markets with the highest standards of regulatory compliance and security. By overcoming trust barriers and leveraging international banking partnerships, the company aims to enhance global financial inclusion and prepare for expansive growth over the next five years, particularly in developing countries like India.

Q1: How does XREX differentiate itself from other blockchain-enabled financial institutions, particularly in terms of the services it offers to SMBs in emerging markets?

A: XREX distinguishes itself through its commitment to regulatory compliance in the jurisdictions where it operates. XREX has recently been awarded in-principle approval from the Monetary Authority of Singapore (MAS) for the Major Payment Institution (MPI) license. This is in line with our ethos of being regulated by the world’s leading regulators, providing SMBs with the necessary confidence to engage in cross-border transactions, and addressing their major pain points such as USD shortage issues. Additionally, XREX focuses on enhancing liquidity for fiat-to-crypto and crypto-to-fiat conversions by expanding banking channels. By partnering with the US’s Customers Bank and Taiwan’s Far Eastern International Bank, XREX can offer smooth fiat deposits and withdrawals in over 120 countries.

Q2: With your experience in the semiconductor import and export business, how have you leveraged your understanding of cross-border transactions in the development of XREX’s services?

A: We gained valuable insights into the needs and concerns of parties in cross-border transactions, especially between or with emerging markets. The buyer seeks certainty in the delivery of goods, while the seller requires assurance of payment. To address these needs, we developed BitCheck, an escrow payment system that provides peace of mind for both parties in a business transaction, which is a foundational element of trust in international trade. Further, a BitCheck contract can be added as an additional layer of protection, signed by both parties with verified names and can be downloaded in PDF format, which documents the roles, responsibilities, and terms agreed by both sides.

Q3: Can you discuss the strategic importance of the partnerships XREX has with international banks and how these relationships benefit your corporate and individual users?

A: Banks are not our competitors, but crucial partners for realizing blockchain finance, as only entities that adhere to the most stringent compliance measures, particularly in anti-money laundering, can provide traditional currency on- and off-ramp services. Through these collaborations, XREX is positioned to meet the needs of merchants globally by ensuring access to significant USD liquidity. For our corporate and individual users, this translates into the ability to engage in global commerce with greater ease and security, reinforcing our commitment to enabling smooth cross-border payments and transactions.

Q4: XREX places a strong emphasis on financial inclusion. How does the company use blockchain technology to enhance financial participation, access, and education for users in underbanked regions?

A: In underbanked regions, access to the global financial system and market is not just a convenience, it's a gateway to opportunity. We leverage blockchain technology to build bridges between traditional finance and blockchain finance. This approach opens up a world of possibilities for the underbanked and underserved communities, granting them access to USD liquidity and the ability to engage in the global market. We aim to increase financial access and empower individuals by providing the tools and education they need to participate fully in the global economy.

Q5: Security is a paramount concern in the digital asset space. What measures does XREX take to ensure the safety of its users’ assets and compliance with global regulations?

A: XREX’s co-founder and Group CEO established the cybersecurity software company Armorize Technologies and had a successful exit to the US public company Proofpoint in 2013. Crafted by experts with more than a decade in international cybersecurity experience, XREX is dedicated to incorporating the latest and best practices in cybersecurity. XREX has integrated three top blockchain surveillance suppliers’ tools, including Chainalysis, TRM Labs, and Mastercard’s CipherTrace, to ensure a clean and safe trading environment on the XREX platform.

XREX also works with independent external partners to verify our system and processes. We've secured the ISO/IEC 27001:2022 certification, evidencing our commitment to cybersecurity standards.

Q6: Looking towards the future, what are XREX’s goals for the next five years, and how does it plan to adapt to the rapidly changing landscape of cryptocurrency and blockchain technology?

A: Over the next five years, XREX is focusing on three businesses, crypto-fiat exchange, B2B cross-border payment, and white-label technical support. All these require a strong team that can meet global standards of compliance, user experience, and market demands. XREX sees itself as a blockchain financial institution that works with banks, regulators, and users to promote real-world applications that can drive the next generation of finance.