REGULATION | South African Crypto Startup, Xago, Strengthens Global Presence with AUSTRAC Registration and Expanded Currency Support

Xago, a South African pioneering crypto fintech company specializing in digital payments and exchange services powered by the XRP Ledger, has taken a significant step in its international growth strategy.

The company is proud to announce the establishment of Xago Australia Pty Ltd, which is now officially registered with AUSTRAC as a Digital Currency Exchange (DCE). This achievement reinforces Xago’s commitment to regulatory compliance and marks a strategic entry into the Asia-Pacific region.

Australian Transaction Reports and Analysis Centre (AUSTRAC) is an Australian government financial intelligence agency responsible for monitoring financial transactions to identify money laundering, organised crime, tax evasion, welfare fraud and terrorism financing.[3]

AUSTRAC was established in 1989 under the Financial Transaction Reports Act 1988. It implements in Australia the recommendations of the Financial Action Task Force on Money Laundering (FATF).

AUSTRAC’s existence was continued under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) (AML/CTF Act).[5] The AML/CTF Act came into effect in December 2006, and extended the existing monitoring regime to cover terrorism financing and designated terrorist organisations.

As part of its mission to make cross-border payments faster, more affordable, and more inclusive, Xago has also expanded its currency integration capabilities and established new partnerships:

• Nigerian Naira (NGN): Xago now supports seamless on- and off-ramp functionality for NGN, offering enhanced accessibility to one of Africa’s most vibrant markets.
• Euro (EUR): Through a new partnership with OpenPayd, Xago has enhanced its Euro services with robust SEPA and SWIFT integration for smooth on- and off-ramping.

With these additions, Xago now facilitates transactions in six major currency-backed stablecoins:

• USD
• GBP
• ZAR
• NGN
• EUR, and
• AUD

“These developments reflect our ongoing commitment to empowering individuals and businesses with accessible, compliant, and secure digital payment solutions,” said Jurgen Kuhnel, CEO of Xago.

“Securing AUSTRAC registration and expanding our currency offerings are vital steps toward making a tangible impact in global and emerging markets.”

Xago continues to reshape the landscape of international payments through its innovative platform, offering near-instant settlements, low transaction costs, and strong regulatory alignment across multiple jurisdictions.

About Xago

Founded in 2016 and headquartered in South Africa, Xago Technologies (Pty) Ltd is a forward-thinking fintech company that leverages the speed and scalability of the XRP Ledger to deliver efficient and secure digital payment services.

Xago’s platform enables users to send, receive, and exchange currency-backed stablecoins across borders with confidence and ease.