xMoney

About xMoney (UTK)

UTK is the original token of Utrust, a crypto payments company that was acquired by the Elrond network (now MultiversX) in 2022 and later became xMoney, a licensed payments business. UTK is now a legacy token: xMoney's active token is XMN, launched in October 2025, and UTK holders can upgrade to it through an official portal. This page explains what UTK was built for, how it relates to xMoney and XMN today, and what that means for anyone still holding it.

What Is xMoney?

xMoney describes itself as "the financial ecosystem empowering businesses in the digital economy." Its website lists card, wallet, crypto and local payment processing, recurring billing, marketplace payments, physical and virtual card issuing, invoices, payment links and three stablecoins (EURXM, USDXM and RONXM). It states that it is a licensed Electronic Money Institution regulated by the Bank of Romania, is PCI DSS Level 1 certified, and serves more than 5,000 businesses.

UTK sits alongside this as the token inherited from Utrust. It exists on two networks: the original ERC-20 contract on Ethereum and an ESDT version on MultiversX (identifier UTK-2f80e9). The token page for the MultiversX version is labelled "xMoney UTK".

Who Founded xMoney? (History)

According to xMoney's help center article on the history of UTK:

• November 2, 2017: Utrust launched its token sale, issuing UTK as an ERC-20 token on Ethereum with a total supply of 500 million.
• January 11, 2022: Utrust announced that it had been acquired by the Elrond network, now MultiversX.
• 2022: UTK 2.0 launched as an ESDT token on MultiversX, and holders could bridge the old ERC-20 tokens to the new variant. The help center says both the ERC-20 and ESDT versions are still supported.

Utrust's original pitch at its 2017 token sale was a crypto payment platform for online shopping with a purchase protection mechanism for buyers. That business later operated under the xMoney name. xMoney's official pages list its operating entities as Capital Financial Services S.A. (Romania, card payments), Cifralfabeto Unipessoal Lda (Portugal, VASP) and Modernityparty OÜ (Estonia, licensed VASP). Individual founders of Utrust are not named on the xMoney pages reviewed for this article.

In October 2025 xMoney launched XMN as its new token, and UTK became the predecessor token.

How xMoney Works

For merchants, xMoney works like a conventional payment processor: a business integrates checkout, card processing or payment links, and xMoney handles authorisation, settlement and compliance under its licences. Crypto is one payment method among several rather than the whole product.

For token holders, the mechanics now centre on migration from UTK to XMN. According to xMoney's token page, there are two paths:

1. Liquid swap (3 UTK to 1 XMN). Holders receive XMN immediately, with staking available at 8% APR.

2. Locked upgrade (1 UTK to 1 LXMN). The recommended route converts UTK one-for-one into LXMN, which is locked for six months and earns 10% APR plus NFT benefits.

Migration is manual: UTK does not convert automatically, and holders must use the UpgradeUTK portal.

Key Ecosystem Components

• xMoney payments platform: payment processing, billing, card issuing and invoicing for businesses.
• xMoney stablecoins: EURXM, USDXM and RONXM, listed among the company's products.
• UTK (legacy): the ERC-20 token on Ethereum (Etherscan) and the ESDT token on MultiversX (MultiversX Explorer).
• XMN: the current token, described by xMoney as MiCA-compliant and deployed on both Sui and MultiversX, bridgeable one-to-one between them.
• UpgradeUTK portal: the official route for converting UTK into XMN or LXMN.

UTK Token Utility

UTK was designed as the utility token of the Utrust payments platform. Its role has now passed to XMN, which xMoney says gives holders fee reductions, staking rewards and loyalty benefits across payments and invoicing, plus cashback and governance voting through staking. For UTK itself, the main documented use today is as the input to the upgrade into XMN or LXMN.

Supply notes:

• UTK launched with a total supply of 500 million, per xMoney's help center. A direct read of the Ethereum contract in September 2026 returned a totalSupply of 500 million.
• On MultiversX, the network's public API reports an initial mint of 500 million UTK, cumulative mints of about 415.3 million, cumulative burns of about 702.2 million and a current supply of about 213.1 million. This is our own reading of on-chain data; it describes the ESDT version only, and the relationship between the two chains' figures is not documented on the pages reviewed.
• XMN has a fixed maximum supply of 10 billion, with about 650 million in initial circulation at its October 2025 launch. xMoney lists the allocation as 30% community and merchant incentives, 20% treasury and growth, 15% business operations, 10% investors, 10% staking incentives, and 5% each for legal and compliance, ecosystem integration, and liquidity operations.

What Makes xMoney Unique?

Most payment tokens are attached to projects that are still seeking a licence or a customer base. xMoney pairs its token with a regulated business: an e-money licence from the Bank of Romania, card processing and a stated merchant base of more than 5,000 businesses. Its move from UTK to a new token issued under the EU's MiCA framework is also unusual among older tokens, which tend to keep their original contracts indefinitely.

How xMoney Differs from Similar Chains

xMoney is not a blockchain. It relies on Ethereum, MultiversX and Sui for its tokens. Compared with crypto payment projects such as Pundi X or Alchemy Pay, which also connect merchants with crypto, xMoney presents itself primarily as a licensed fiat and card processor that also supports crypto. Compared with Request, which focuses on an open invoicing protocol, xMoney is a company-operated service with its own licences and custody of the payment flow.

Use Cases of xMoney

• Merchants accepting cards, wallets, local methods and crypto at checkout.
• Subscription billing, marketplace payouts and payment links.
• Card issuing for businesses.
• Token holders upgrading legacy UTK into XMN or locked LXMN for staking and loyalty benefits.

How xMoney Is Secured

UTK's security depends on the chain each version lives on: Ethereum's proof-of-stake validators for the ERC-20 version and MultiversX's validators for the ESDT version. The MultiversX token record shows the issuer retains mint, burn, pause, freeze and wipe permissions for the ESDT version, which is common for issuer-managed tokens but means holders rely on the issuer's conduct. On the business side, xMoney cites its Bank of Romania EMI licence, PCI DSS Level 1 certification and SCA and 3D Secure 2.0 support.

Risks and Considerations

• Legacy status: UTK is no longer xMoney's active token, and future support for it is set by the company.
• Migration terms: the liquid route exchanges three UTK for one XMN, while the one-to-one route requires a six-month lock. Holders who do nothing keep UTK, not XMN.
• Two-chain supply: UTK exists on Ethereum and MultiversX with different on-chain figures, so supply data depends on which version is being described.
• Issuer controls: the ESDT version can be minted, burned, paused, frozen or wiped by its owner.
• Liquidity: as trading moves to XMN, UTK markets may become thinner.

Why xMoney Matters

UTK is one of the few 2017-era payment tokens whose company went on to hold a regulated licence and run a real processing business. Its path, from an independent crypto payments startup, to acquisition by a layer-1 network, to a new MiCA-aligned token, is a useful example of how early payment tokens are being folded into regulated structures.

Where Can You Buy xMoney?

UTK has traded on centralized exchanges and on decentralized venues on Ethereum and MultiversX, but with XMN now the active token, availability may shrink. Anyone holding UTK should first review the official UpgradeUTK portal and the XMN token page before trading, and should confirm which network version (ERC-20 or ESDT) a venue supports.

Storage Options After Purchase

• ERC-20 UTK: any Ethereum wallet, such as MetaMask or a hardware wallet. Contract 0xdc9ac3c20d1ed0b540df9b1fedc10039df13f99c.
• ESDT UTK: a MultiversX wallet such as xPortal or the MultiversX web wallet, using token identifier UTK-2f80e9.

Check the contract or identifier on the relevant explorer before sending funds, and use the official portal for any upgrade.

Related Coins

• MultiversX: the network that acquired Utrust and hosts the ESDT version of UTK.
• Pundi X: crypto payments at physical and online points of sale.
• Alchemy Pay: crypto and fiat payment rails for merchants.
• Request: an open protocol for invoices and payment requests.
• AVA (Travala): a travel booking platform with its own token.