FAQ

How are XFT units permissionless?

All XFT units are operate in a very similar way as other fiat-backed stablecoins like USDC or USDP. Primary Users (those who have an account with XFT) can mint and redeem USDX (for example) at $1. Both Primary and Secondary users can freely transfer their units, deposit it into smart contracts, and interact with any protocol that is compatible with the ERC20 standard.

How do I purchase USDXT?

Customers may purchase USDXT with USD via XFT API, web app or distribution partner.

What is a central bank digital currency (CBDC)?

A CBDC is a digital form of central bank money that is widely available to the general public. It is a digital liability of a central bank.

How do yield-bearing XFT products distribute income?

Tokens rebase daily, accruing new tokens regardless of where the yield-bearing unit is held. The mechanism of rebasing modifies the balanceOf via a rewardMultiplier. For more details, refer to the documentation here.

Why blockchain?

Blockchain is a payment system that is: Secure Instant Zero-fee 24/7/365 Global Transparent Immutable By the numbers: Reduced yield spreads by 25 bps (BIS) Enhanced liquidity by 5.3% (HKMA) Cost savings of 35-65% across settlement value chain (Digital Asset) Up to $5 billion in cost savings for equity-post trading (Digital Asset) Reduce investment bank costs by $12 billion a year (Accenture)

Definitions, acronyms, and abbreviations

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Payment-versus-payment (PvP)

A settlement mechanism that ensures that the final transfer of a payment in one currency occurs if and only if the final transfer of a payment in another currency or currencies takes place. If more than two currencies are involved in a PvP chain, it is called PvPvP in the context of this study.

Burn = Withdraw = Offramp = Redeem
Mint = Deposit = Onramp = Create

Business Identifier Code (BIC) Used for addressing messages, routing business transactions and identifying business parties.

International Bank Account Number (IBAN) Specifies the structure of ISO-compliant national IBAN formats, which facilitate automated cross-border payment transaction processing.

Legal Entity Identifier (LEI) Used to enable the consistent and accurate identification of legal entities which are party to a financial transaction.

ABA routing transit number (ABA RTN) The nine-digit code printed on the bottom of checks to identify the financial institution on which it was drawn.

AML anti-money laundering API application programming interface BIS Bank for International Settlements CFT combating the financing of terrorism CPMI Committee on Payments and Market Infrastructures DID decentralised identifiers DLT distributed ledger technology FX foreign exchange KYC know your customer PFMI Principles for financial market infrastructures PSP payment service provider PoC proof of concept RTGS real-time gross settlement

Sistema de Pagos Electrónicos Interbancarios (SPEI) Society for Worldwide Interbank Financial Telecommunication (SWIFT) International Bank Account Number (IBAN) Business Identifier Code (BIC) Bank Identifier Code (BIC) Market Identifier Code (MIC) Legal Entity Identifier (LEI) CHIPS Universal Identifier (UID) Clearing House Interbank Payments System (CHIPS) Routing Transfer Number (RTN) American Banking Association (ABA) Automated Clearing House (ACH) Single Euro Payments Area (SEPA) North American Clearinghouse Association (NACHA) Originating Depository Financial Institution (ODFI) Receiving Depository Financial Institution (RDFI) Tokenized Account Number (TAN) Bankers Automated Clearing System (BACS) Automated Customer Account Transfer Service (ACATS) Automated Customer Account Transfer Service (ACATS) Depository Trust Company (DTC) Proof of Authorization (PoA) Request for Payment (RfP) Real Time Payments (RTP) The Clearing House (TCH) Credit Union (CH) Home Equity Line of Credit (HELOC) Electronic Funds Transfer (EFT) Real-Time Gross Settlement (RTGS) Financial Instrument Global Identifier (FIGI) Automated Customer Account Transfer Service (ACATS) Depository Trust & Clearing Corporation (DTCC) National Securities Clearing Corporation (NSCC) Financial Industry Regulatory Authority (FINRA) Account Transfer on Notification (ATON) Standard Entry Class (SEC) Peer-to-peer (P2P) Consumer Financial Protection Bureau (CFPB) Plan d’Epargne en Actions (PEA) Delivery vs. Payment (DVP) Receive vs. Payment (RVP) National Best Bid/Offer (NBBO) Volume-weighted average price (VWAP) Exponential Moving Average (EMA) Magnetic ink character recognition (MICR)