XcelPay
Crypto Overview
Purpose and Utility
XcelPay (XLD) presents itself as a cryptocurrency payment solution focused on merchant adoption. The project aims to facilitate easy cryptocurrency payments for merchants and customers through their XcelPay Wallet and payment gateway.
Business Model Evaluation
The business model appears to focus on legitimate payment processing and merchant services, which aligns with halal principles. There is no evidence of involvement in prohibited activities like interest-based lending or gambling.
Real-World Adoption
Current adoption and usage metrics for XcelPay appear limited. While the project has a working wallet application, verifiable merchant adoption data is scarce.
Platform Development
Development activity appears minimal based on public repositories and updates. The project maintains basic functionality but shows limited recent technical progress.
Token Distribution and Vesting
Detailed information about token distribution and vesting schedules is not readily available in public documentation.
Technology Assessment
The core technology revolves around payment processing and does not involve interest-bearing mechanisms or other questionable features from an Islamic finance perspective.
Crypto Impact
To assign a comfort level investing in XcelPay 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 XcelPay.
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.