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xMoney Secures $21.5 Million Strategic Funding Led by Sui Foundation

xMoney Secures $21.5 Million Strategic Funding Led by Sui Foundation

According to the company, the MiCA-compliant payments provider will launch its XMN token in October, expanding stablecoin-based infrastructure for global merchants and financial services.

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Fact Check
The statement is directly confirmed by the BeInCrypto news source, which reports xMoney secured '$21.5 million in strategic funding with the Sui Foundation leading the round.' This claim is further supported by several other pieces of evidence indicating a close strategic partnership between xMoney and the Sui Foundation, such as xMoney launching a new token on the Sui network and appointing the former Managing Director of the Sui Foundation as its new CEO.
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Summary

xMoney announced in an official statement that it has raised $21.5 million in strategic financing led by the Sui Foundation, with participation from MultiversX. The MiCA-compliant firm is a licensed Electronic Money Institution (EMI), PCI DSS Level 1 certified, and a principal member of Visa and Mastercard. xMoney currently serves more than 5,000 merchants, including institutions in Liechtenstein. The company plans to launch its XMN token in early October, accompanied by buyback, liquidity, and value-sharing mechanisms. Additionally, xMoney intends to expand its stablecoin payment infrastructure to support debit cards, subscriptions, and cross-border settlements.

Terms & Concepts
  • MiCA: Markets in Crypto-Assets regulation, a European Union framework governing crypto-related activities to ensure compliance and consumer protection.
  • Electronic Money Institution (EMI): A licensed financial entity authorized to issue electronic money and provide related payment services under regulatory frameworks.
  • Stablecoin: A cryptocurrency pegged to a stable asset, such as fiat currency, to minimize price volatility and support reliable transactions.