The XAF Token is pegged at a one-to-one ratio to the Central African CFA franc. This means that 1 XAF Token will always be redeemable for 1 Central African CFA franc. It enhances the Central African CFA franc on the blockchain.
There are no third-party intermediaries, payment processors or banks. All XAF Token transactions are confirmed in 3 to 5 seconds on a blockchain with a fast and scalable consensus protocol compared to other blockchain technologies.
The XAF Token is protected by industry-standard public-key cryptography tools and techniques, which means the code is well tested and well understood. Each transaction is cryptographically signed by whomever sent it using the Ed25519 algorithm, which cryptographically proves that the sender was authorized to make the transaction.
Within the CEMAC region, people often rely on Banks or businesses like Western Union, Moneygram or Express Union to send money to their families and loved ones across the 6 CEMAC nations. This is typically a slow and costly process where people and up losing a significant amount of money to high fees. The XAF Token can be sent intantly and for a fraction of the cost.
All XAF Token transactions on the network are public, which means the movement of funds can always be audited. Financial institutions using the XAF Token for account holder transactions can keep information about the individuals by storing encrypted or unique identifiers in the transaction's memo field. This allows financial institutions to meet regulatory compliance requirements and keep transaction history verifiable while still keeping privileged information secure.
All XAF Token fiat reserves are safely kept in licensed and regulated financial institutions and mobile operators across multiple accounts. The XAF Token is built on a decentralized payment protocol whose transaction authentication process is confined to a select set of trustworthy nodes. Each node on the network selects a set of such trustworthy nodes, and a transaction is considered approved once authenticated by all nodes.
Obverse: Bank of the Central African States building, woman
Reverse: Transport and communication