We are delighted to announce that XLD Finance is now compatible with Polygon!
With the steady adoption of cryptocurrency through Play-to-Earn gaming comes a wave of new users passionate to learn about DeFi: with most coming from emerging markets. Unfortunately, the lack of solid infrastructure in offramping leaves users in the dark about how to take their tokens off the chain. XLD Finance aims to bridge that gap, offering intuitive offramping solutions that are easy to understand and simplify the process of bringing crypto into real life usage.
Polygon has achieved great success in building and connecting Ethereum-compatible blockchain networks, amassing an formidable portfolio of DApps, with some of the leading DeFI projects among them. XLD Finance is a stablecoin-based ecosystem that allows the off-ramping of tokens to be used for necessities and utilities in 5 countries in Southeast Asia, with Latin America and Africa to be launched in the future. Through this integration, users from any Polygon-powered DApp can offramp their tokens conveniently and safely via XLD Finance’s platform, xSpend.
Launching mid-December, xSpend, the platform’s premiere product, allows users to use their tokens to buy prepaid mobile load or pay for utility bills. At launch, users can transact with USD Tether (USDT), USD Coin (USDC), and DAI to pay companies like Airtel (Bangladesh), Indosat (Indonesia), and AirAsia (Philippines). The service will initially be available to users in Bangladesh, India, Indonesia, Malaysia, and the Philippines. xSpend simply requires users to connect their DeFi wallet, choose the token they want to spend, select the biller for the transaction, and input account details. This is the first step in XLD Finance’s roadmap that also sees a token-to-cash service sometime in Q1 2022, the development of both Web 2.0 and Web 3.0 financial solutions such as its own stablecoin, a non-custodial DeFi wallet, and early wage access.
The integration with Polygon opens XLD Finance to its broad network of users allowing for a seamless DeFi to IRL experience. “We are excited for our collaboration with Polygon. Their growing GameFi ecosystem and their efficient network is aligned with our mission to provide financial services to underserved users in the Play-to-Earn space,” says XLD Finance’s CEO Ian Estrada.
About XLD Finance
XLD Finance is a stablecoin-based ecosystem driving financial inclusion through real-world financial services. XLD’s roadmap includes the development of both Web 2.0 and Web 3.0 projects such as its own stablecoin, a DeFi wallet, early wage access, and a simplified crypto onramp & offramp platform for crypto natives and the financially underserved.
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About Polygon Studios
Polygon Studios is the Gaming and NFT arm of Polygon focused on growing the global Blockchain Gaming and NFT Industry and bridging the gap between Web 2 and Web 3 gaming through investment, marketing and developer support. The Polygon Studios ecosystem comprises highly loved games and NFT projects like OpenSea, Upshot, Aavegotchi, Zed Run, Skyweaver by Horizon Games, Decentraland, Megacryptopolis, Neon District, Cometh, and Decentral Games. If you’re a game developer, builder or NFT creator looking to join the Polygon Studios ecosystem, get started here.
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About Polygon
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 3000+ applications hosted, 1B+ total transactions processed, ~100M+ unique user addresses, and $5B+ in assets secured.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.
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