We’re thrilled to announce that xSpend is now available to the public. Users with mobile numbers from Bangladesh, India, Indonesia, Malaysia and the Philippines can now use GameFi tokens and stablecoins to buy mobile prepaid credits through the platform. Users can also pay Filipino billers for goods and services, a feature rolling out to the rest of the world by 2022.
XLD Finance, the protocol behind xSpend, aims to drive financial inclusion through real-world financial services. The decentralized finance (DeFi) community is welcoming a new and growing segment, the play-to-earn (P2E) gamer. These gamers, many of whom are unbanked and come from emerging markets, have recognized P2E gaming as an avenue to supplement already existing salaries or as a new career path — with earnings immediately allocated to household expenses or personal necessities.
A problem that users, particularly in emerging markets, come across is that offramping mechanisms are not usually easy to use, if they’re available at all. Users are forced to go through P2P services that usually require a lot of steps, for sometimes unsuccessful or fraudulent transactions. xSpend, XLD Finance’s first project, cuts out the middleman, allowing users to directly spend their GameFi tokens and stablecoins to pay over 350 billers and utilities including mobile prepaid, power, water, and internet services.
xSpend was designed with convenience in mind: all users really need are a Metamask or Ronin wallet, the tokens they want to spend, and the information for the biller or mobile network that they would like to transact with. After connecting their wallet to our platform, all they need to do is select the transaction they would want, input account details, and confirm the transaction. Users can transact with USD Tether (USDT), USD Coin (USDC), DAI and Smooth Love Potion (SLP), with a selection of over 300 utilities companies and mobile networks including Globe Telecom (Philippines), PLDT (Philippines), Airtel (Bangladesh and India), Indosat (Indonesia), and AirAsia (Philippines).
To learn more about the XLD Finance ecosystem and be alerted for future updates, please visit our website, or follow us on Discord, Twitter, Medium, LinkedIn, and Telegram.
