The UTK currency is the token of the xmoney network, which is a platform designed to provide a solution to the problems that lead to the decreased usability of cryptocurrency as a means of payment concerning the security of transfers on the network and the relatively high transaction fees. The primary goal of the platform is to build a smooth and fast system for cryptocurrency transfer transactions with lower fees, allowing merchants to reach a wider audience of cryptocurrency users.
The platform aims to create a more reliable payment platform by combining the best features of blockchain and traditional paper systems, as xMoney serves as a digital payment infrastructure that seamlessly integrates both cryptocurrencies and traditional fiat currencies, providing individuals, businesses, and merchants with a comprehensive and convenient payment solution by leveraging advanced technology and a strategic partnership with the MultiversX platform. The platform implements its ideas in two phases that will ensure execution.
