xMoney has closed a $21.5 million round led by Sui Foundation, an operation that includes the appointment of Greg Siourounis as co-founder and CEO. The company plans to launch the XMN token in early October, with impact for merchants, payment operators and compliance teams in the stablecoin ecosystem. The capital backs its plan to offer stablecoin payments under regulation and to expand its acceptance network.
According to the statement, the investment positions xMoney as a competitor in the payments and stablecoins market, providing it with more capital and partnerships to execute its strategy. Greg Siourounis, former Managing Director of Sui Foundation, joins as co-founder and CEO with a roadmap that prioritizes partnerships, compliance and market growth.
xMoney serves more than 5,000 merchants and maintains onramps with Visa and Mastercard, in addition to PCI DSS Level 1 certification. It operates as an Electronic Money Institution supervised by the Bank of Romania and states it complies with MiCA, a framework the company considers a foundation for building trust in Europe for stablecoin services within the European Union.
xMoney is buildingits future with tokenization
The first listing of the XMN token is scheduled for early October. The company presents it as a driver of engagement through governance and rewards, aligning incentives with the growth of the ecosystem.
The Electronic Money Institution license and the declaration of MiCA compliance could open doors with payment providers and custodians, facilitating integrations and service expansion.
The XMN listing in October marks the start of tokenomics and incentives, with the potential to drive adoption among users and ecosystem partners.
Tokenization with governance and rewards will depend on the tokenomics design and market acceptance, key factors for the sustainability of the model.
The base of 5,000 merchants provides initial traction, but real scalability will require adoption in traditional retail and proofs of value in high-volume contexts.
The immediate milestone is the listing of the XMN token in early October; its execution and reception by merchants and exchanges will determine whether the capital and regulatory focus translate into adoption and liquidity.
