Sample FXPool Remittance Flow

This demo uses a fictional Philippine Peso Stablecoin "XPHP" to illustrate what a cross border stablecoin settlement looks like on a Xave FXPool. Any branding or user interface elements in this demo does not reflect any official partnerships nor commercial arrangements.

Legend

Term	Description
XSGD	the Singapore Dollar backed stablecoin issued by http://straitsx.com as regulated by the Monetary Autority of Singapore
XPHP	a placeholder name for a Philippine Peso Stablecoin
FXPool	an "Automated Market Maker" optimized for stablecoin to stablecoin trades at market accurate prices

Demonstration

The below recording illustrates what a cross border bank transfer for 100 SGD -> equivalent PHP would look like to a user if powered by our FXPools that enable;

1. Instant Settlement

2. 24/7 algorithmic rebalancing FX liquidity

3. 5 - 10x cheaper cross border settlement

4. The demo was built using Xave's FXPools and the sandbox APIs of StraitsX and an XPHP issuer that enables the following money flow:

Demo Video:

Detailed Money Flow:

See Miro diagram (request for password from [e-mail])

1. Cash-in via PayNow: A sender initiates a transaction by sending money from a Singaporean bank using the PayNow. PayNow is a peer-to-peer funds transfer service available in Singapore that allows users to send and receive SGD nstantly.

2. Minting of XSGD Tokens: Once the payment is confirmed as completed, an equivalent amount of XSGD tokens is minted and loaded onto the user's digital wallet.

3. Conversion of XSGD to XPHP Tokens: The sender then transfers the XSGD tokens to the recipient. As part of this transfer, the XSGD tokens are converted into XPHP tokens through Xave FX Pools.

4. Transfer of XPHP Tokens to Receiver Wallet: The XPHP tokens are sent to a unique wallet address that is linked to the receiver's Philippine bank account.

5. Redemption of XPHP for PHP Cash: Once the XPHP tokens are received in the linked wallet, they are redeemed for Philippine Pesos (PHP) and then credited to the user’s Philippine bank account.

Action	Money Flow	Underlying Tech
User cash in from SG bank accout	SGD -> XSGD	​StraitsX SGD API​
Stablecoin FX	XSGD -> XPHP	Xave "FXPool"
User cash out to PH receiving bank	XPHP -> PHP	XPHP Stablecoin API

Try sending money from Singapore -> Philippines 24/7 live https://cross-border-qr-demo.xave.co/

Demo Credentials:

To gain access to the demo platform, please contact the team for access at [e-mail].