Xpayra CTO: The core system is ready, and cross-border payment applications have begun to be tested

Odaily Planet Daily News Xpayra, a crypto payment and financial infrastructure project, recently announced that the platform has completed the first phase of the construction of the core system based on the PayFi architecture, including the transaction settlement engine, the smart coin minting module and the compliance governance template, and has entered the multi-chain high-concurrency performance test phase. According to Kevin Patel, Chief Technology Officer of Xpayra, the current system has realized the on-chain wallet and identity participation mechanism. Users can complete payments and collections without a bank account, and funds can be received in real time on T+0. In terms of cross-border remittance costs, the platform has compressed the costs to on-chain gas fees and matching fees, which is lower than the 3%~5% intermediary costs commonly seen in the traditional financial system. The system supports a variety of 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 the dimensions of enterprises and individual users. The platform provides lightweight settlement capabilities for small and medium-sized cross-border e-commerce companies, which can reduce exchange risks and improve the efficiency of capital repatriation. For individual users, the system has realized the functions of remote salary payment and freelance income settlement. Funds can be deposited in seconds through the on-chain process, reducing the threshold for use and dependence on intermediaries. At the same time, the team is also expanding the offline merchant network to promote the practical application of digital assets in daily retail scenarios.