xMoney
Crypto Overview
Overview
xMoney (UTK) is a cryptocurrency focused on enabling seamless crypto payment solutions for merchants and consumers. The project, formerly known as UTRUST, rebranded to xMoney in 2023 and operates under the Holding X umbrella.
Intended Utility
The primary purpose of UTK is to serve as a payment and governance token within the xMoney ecosystem. Token holders can participate in governance decisions and receive benefits when using the xMoney payment platform. The platform enables merchants to accept cryptocurrency payments while receiving fiat settlements, with UTK serving as the native token for the ecosystem.
Actual Utility
xMoney has demonstrated real-world adoption through partnerships with numerous merchants and integration with various e-commerce platforms. The platform processes actual cryptocurrency payments, with UTK being used for governance and providing benefits to holders. The development team maintains regular updates and improvements to the payment infrastructure.
Token Distribution and Founder Analysis
The token distribution shows a balanced allocation between team, development, and public sale. The team's tokens were subject to vesting periods, and the project has maintained consistent development since its inception in 2017. The founding team has remained relatively stable and has a track record in the payments industry.
Technology and Revenue Model
The platform generates revenue through transaction fees from payment processing, not through interest-bearing mechanisms. The business model focuses on facilitating legitimate commerce and does not involve prohibited activities.
Crypto Impact
To assign a comfort level investing in xMoney from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to xMoney.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.