What is xMoney (UTK)?

Quick Facts

  • Founded: 2017 as Utrust, later rebranded to xMoney
  • Original token: UTK powers the xMoney payments ecosystem
  • Blockchains: Ethereum and MultiversX (EGLD chain)
  • Platform type: Regulated crypto and fiat payment infrastructure
  • Regulator: Licensed Electronic Money Institution, Bank of Romania
  • Token successor: UTK is being transitioned to XMN (MiCA-compliant)
  • Co-founders: Artur Goulão, Filipe Castro, Nuno Correia, Roberto Machado

Introduction

xMoney (UTK) is the native utility token of a unified crypto-fiat payment network that allows businesses and individuals to send, receive, and manage digital payments. The project originally launched under the name Utrust in 2017 and has since evolved into one of Europe's regulated fintech-blockchain hybrids.

The platform bridges the gap between traditional finance and cryptocurrency, targeting merchants who want to accept crypto payments without taking on direct price-volatility risk.

History & Background

Utrust was co-founded in 2017 by Artur Goulão, Filipe Castro, Nuno Correia, and Roberto Machado as a blockchain-based alternative to conventional payment processors. The project raised early funding through a public token sale and quickly attracted attention for combining buyer protection with crypto payments.

In 2020, Sanja Kon — a former PayPal and eBay executive — joined as CEO, bringing deep fintech credibility. A strategic partnership with MultiversX (formerly Elrond) accelerated development, and UTK was eventually migrated to the MultiversX chain as part of the UTK 3.0 upgrade. The brand rebranded fully to xMoney, reflecting its broader financial ambitions.

How xMoney Works

xMoney provides merchants with a crypto payment gateway that settles transactions in fiat or preferred currencies, removing exposure to crypto volatility. Buyers pay with a range of digital assets, while sellers receive stable value.

The platform also supports cross-border payments, subscription billing, invoicing, card issuance, and split payouts — all through a single API-driven dashboard. KYC/KYB onboarding and PCI DSS Level 1 compliance are built into the infrastructure.

Tokenomics

UTK was designed to drive desired behaviors within the ecosystem — rewarding merchants who accept crypto, incentivizing users to pay with UTK, and funding affiliate program rewards. Staking UTK on MultiversX allowed holders to earn rewards and participate in governance.

Following community governance approval, the project introduced XMN as a MiCA-compliant successor token. UTK holders can migrate via two paths: a 1:1 swap with a six-month lock-up, or a 3:1 liquid swap with no lock-up period.

Circulating supply ? 500.00 million UTK
Total supply ? 500.00 million UTK
Max supply ? -- UTK
Updated 4mo ago

Ecosystem & Use Cases

  • xMoney Crypto Pay: Merchants accept BTC, ETH, EGLD, SOL, SUI, and more
  • Cross-border payments: Fast, low-cost transfers without relying on traditional banks
  • Card issuance: Branded physical and virtual cards for businesses
  • Subscriptions & invoicing: Automated billing and recurring revenue tools
  • Staking & governance: UTK stakers earned rewards and voted on proposals

Team, Governance & Community

The xMoney team combines fintech veterans with blockchain engineers. Community governance played a key role in approving the transition to XMN, demonstrating an active token-holder base. The project is headquartered in Europe and operates as a licensed Electronic Money Institution regulated by the Bank of Romania.

Advantages

  • Regulatory compliance: Licensed EMI with PCI DSS Level 1 and MiCA alignment
  • Real-world utility: Integrated into a live payment gateway used by businesses
  • Buyer and seller protection: Unique refund and escrow-like mechanisms
  • MultiversX integration: Fast, low-cost on-chain transactions
  • Experienced leadership: CEO with PayPal and eBay background

Risks & Challenges

  • Legacy token status: UTK is being phased out in favor of XMN, limiting future utility
  • Migration complexity: Two-path swap process may cause confusion for some holders
  • Market competition: Payment crypto sector is highly competitive
  • Regulatory uncertainty: Evolving crypto regulation across jurisdictions adds overhead

Long-Term Vision

xMoney aims to become a global regulated payments infrastructure connecting crypto and traditional finance at scale. The shift to XMN — a MiCA-compliant token — reflects the project's commitment to institutional adoption and cross-chain expansion across networks like Sui and MultiversX. The long-term goal is to enable borderless payments, real-world asset transactions, and loyalty-driven commerce in a single, compliant ecosystem.

Frequently Asked Questions

UTK is the original utility token of the xMoney payment platform. It was used to incentivize merchants and users, pay fees at a discount, fund affiliate rewards, and participate in staking and governance on MultiversX.

UTK is the legacy token from xMoney's Utrust era, while XMN is the new MiCA-compliant successor token built for broader regulatory and institutional adoption. UTK holders can migrate to XMN through an official upgrade portal.

Holders can choose between two paths: a 1:1 swap where UTK converts to XMN at a 1:1 ratio with a six-month lock-up, or a 3:1 liquid swap where 3 UTK converts to 1 XMN with no lock-up period.

Utrust was co-founded in 2017 by Artur Goulão, Filipe Castro, Nuno Correia, and Roberto Machado. Sanja Kon, a former PayPal and eBay executive, joined as CEO in 2020.

Yes. xMoney is a licensed Electronic Money Institution regulated by the Bank of Romania. It is also PCI DSS Level 1 certified and aligned with the EU's MiCA regulatory framework.

UTK was originally an ERC-20 token on Ethereum and later migrated to MultiversX (as UTK-2f80e9) as part of the UTK 3.0 upgrade, taking advantage of faster and cheaper transactions.

xMoney supports crypto payment acceptance, cross-border transfers, subscription billing, invoicing, card issuance, split payouts, and automated KYC/KYB merchant onboarding — all through one API-driven platform.

The community voted to upgrade to XMN to enable MiCA compliance, broader institutional adoption, and multi-chain scalability. UTK was seen as a closed-loop rewards token, while XMN is designed for global payment infrastructure.