Sumit K.
3 min readDec 30, 2017


Foreign currency exchange market is the biggest market in financial industry in terms of trading volume. Main participants for this market is large institutional banks and big corporates who control this market. The retail customers like expats, students and even the small and medium enterprises are never in position to negotiate the better rate and they have to pay hefty amount for their forex conversions. With the emergence of technology and social media awareness new concepts have emerged in the market related to peer to peer currency exchange. This is a very lucrative and emerging concept which will catch the eye of every individual in coming days.

Xfermoney team has been working on the concept of peer-to-peer remittance, fiat currency conversion system and ready to bring this idea into reality in 2018. Xfermoney is going to replace the traditional way of money transfers by connecting participants directly and cut down the middleman plus costs associated with them. Our endeavor is to empower retail customers to exchange money globally at a negligible cost. This should benefit all the consumers who have been paying heavy fees to the existing banks, institutions or brokers to transfer funds overseas.

Blockchain and P2P networks have already proved to be disruptive technologies with the power to challenge the status quo and eliminate the middleman in many different business areas. There are numerous factors in the market that are converging to create a favourable environment for P2P platforms based on blockchain. Currency exchange is going to be the next frontier for P2P, as hefty fees by the banks or brokers are no more acceptable to the consumers and they are always finding better exchange rates with quicker transfer options. XferMoney is the solution to their needs and very well placed to capture this market with its vast experienced and talented team while being the first P2P platform over blockchain to bring an international remittance system to serve globally.

Xfermoney’s P2P platform over blockchain will not only reduce the infrastructure cost but will also give us an edge to extend our platform to adapt with new set of emerging digital currencies. We are bringing multicurrency debit card and every user of XferMoney can get access to it. Customers with the debit card will be able to spend money overseas as a local currency what they hold in their XferMoney account. Primarily, customers who doesn’t own a bank account overseas e.g. tourists, travelers will enjoy the benefits of our multi currency debit card as they will be able to convert their money and spend it overseas without any conversion charge.

Xfermoney has very experienced team who has worked in forex market for many years and great knowledge of various FX products available in the market. We are launching token offerings to raise capital that will be used to expedite the development of Xfermoney platform, and expand its operations. Refer . We are not promising the moon to our investors but we can ensure that with this noble concept and highly commited experienced team we are here to succeed and will do everything in time bound manner. We will ensure the legitimacy, integrity and continuity of our business with the highest ethics standard in the industry.

XferMoney has the potential to change the way we operate in this highly globalized world and again technology will be the instigator for this change. We will reduce the monopoly of large banks and corporates and give the benefits to common man who are deprived of this so far. In short, we will eventually democratize the forex remittance market.