USDX Wallet (a blockchain-powered app for quick
transfers and with a stablecoin pegged to the U.S. dollar) has announced the
fund withdrawal feature right in the app. Before that, USDX Wallet users could
change USDX to other currencies only via crypto exchanges. This is a massive
step towards cross-border money transfers without any bank account and
is a mobile transfer solution powered by blockchain technology. It targets
crypto holders, allowing individuals to send and receive funds quickly and
fee-free. It also covers the needs of an unbanked audience and of those who
don’t want to pay commissions within traditional money transfer mobile apps.
The USDX Wallet app guarantees multi-level security for all transactions and
instant transfers of assets by username, phone number or QR code. The native
blockchain used by the USDX Wallet is based on the BitShares protocol and
allows 100,000 transactions per second.
The payment system
has two cryptocurrencies at its core: USDX token and LHT coin.
The USDX token is a stablecoin pegged to the U.S. dollar at a 1:1 ratio via a
smart contract. USDX is collateralized by the system’s core cryptocurrency,
LHT. The total supply of LHT is 1 billion coins. LHT coins will be released
gradually to the market; only 10% of the LHT supply will be issued each year,
of which 5% will be freely tradeable and 5% will be locked on the blockchain to
provide 200% collateralization.
LHT is listed on ExMarkets,
crypto exchanges. Before users of USDX Wallet could withdraw their money only
via exchanges, but now it’s possible to do in the app itself. A user needs to
input the amount of LHT he or she wants to exchange to BTC. Then enter the BTC
Wallet address, click “Confirm” and fill in the code from SMS for additional
a significant step for us,” – says USDX Wallet
CEO Andrey Peshkov. “We want to make money transfers as easy as
messaging, helping unbanked audience to transfer their funds easily and
fee-free. I hope one day no one will have to wait 3-5 banking days to send
money to their friends or family. “
USDX Wallet app is available for free at Google
Play and AppStore.
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