Xpayra CTO: Core system ready, cross-border payment application begins testing

Odaily Planet Daily News: The encrypted payment and financial infrastructure project Xpayra recently announced that the platform has completed the first phase of the core system construction based on PayFi architecture, including transaction settlement engine, intelligent coin module, and compliance governance template, and has entered the multi chain high concurrency performance testing stage. According to Kevin Patel, Chief Technology Officer of Xpayra, the current system has implemented an on chain wallet and identity participation mechanism. Users can complete payments and receipts without the need for a bank account, and funds can be received in real-time at T+0. In terms of cross-border remittance fees, the platform has reduced the cost to on chain gas fees and matching fees, which are lower than the common intermediary costs of 3% to 5% in traditional financial systems. The system supports multiple mainstream stablecoins, has automatic exchange and compliance capabilities, and all transaction records can be traced on the chain, enhancing data transparency and information symmetry. In terms of application scenarios, Xpayra has been deployed in both enterprise and individual user dimensions. The platform provides lightweight settlement capabilities for small and medium-sized cross-border e-commerce enterprises, which can reduce exchange risks and improve capital return efficiency. For individual users, the system has implemented remote salary payment and freelance income settlement functions, and funds can be instantly received through on chain processes, reducing the threshold for use and intermediary dependence. At the same time, the team is also expanding the offline merchant network and promoting the practical application of digital assets in daily retail scenarios.