The financial industry is evolving, with blockchain technology offering new opportunities for asset management and transactions. However, seamless interaction between crypto finance and traditional finance remains a challenge. Many users struggle to use digital assets as easily as fiat currency, limiting real-world adoption. To bridge this gap, financial systems must integrate secure, efficient, and user-friendly solutions that support both ecosystems. By enabling cross-chain interoperability and liquidity between decentralized and traditional finance, CrossFi (XFI) provides a seamless way to connect digital assets with established financial networks, promoting greater accessibility and adoption.

What is CrossFi (XFI)?

CrossFi was founded to bridge the gap between traditional finance and decentralized finance (DeFi) by providing Web3 banking solutions, on-chain payments, and a layer 1 blockchain infrastructure. The project made its first major breakthrough on March 30, 2023, with the launch of CrossFi Chain, a modular layer 1 blockchain combining Cosmos-based consensus and EVM compatibility for seamless interoperability.

On May 25, 2023, XFI, the native utility token of CrossFi, was listed on MEXC Exchange, followed by the opening of XFI/USDT trading on May 26. Shortly after, on May 30, XFI was officially listed on CoinMarketCap, significantly increasing its market visibility. Throughout July 2023, CrossFi hosted a series of large-scale events in Vietnam, introducing new coins and expanding its community and adoption efforts.

By August 2023, CrossFi gained further recognition, winning the Huobi Prime Vote 7 contest on August 11. The project continued to grow, participating in TOKEN2049 in Singapore as a title partner in September 2023, alongside major Web3 leaders. It also became the main sponsor of Beatland, an international beatboxing event, further boosting CrossFi’s global exposure.

On November 1, 2023, CrossFi launched its official website and the CrossFi Foundation, unveiling a $50 million grant program to support Web3 developers, validators, and ecosystem builders. Later in November, it opened a new office in Dubai, reinforcing its presence in the Middle East and Asia.

In early 2024, CrossFi underwent security verification and audits by Cyberscope, ensuring its blockchain met the highest standards. By February 2024, the team launched the EVM Testnet, supported by CoinList, attracting over 400 validators in just two weeks. By March 2024, 4,000 developers joined a $4 million prize pool initiative, positioning CrossFi as a leading DeFi blockchain project.

The momentum continued in May 2024, when CrossFi introduced its flagship product—the CrossFi App—offering non-custodial crypto payments for goods and services worldwide. During the Ethereum Brazil Conference, CrossFi’s CMO, Leo Kahn, presented the project’s role in bridging TradFi and DeFi. Shortly after, CrossFi launched a native XFI bridge for Ethereum, Arbitrum, Base, and BNB Smart Chain, and listed XFI on PancakeSwap and Uniswap.

By October 2024, the CrossFi Mainnet went live, marking the project’s transition into a fully operational DeFi ecosystem. In December 2024, the team hosted large-scale conferences in Vietnam, with over 3,000 attendees, and sponsored the Super Cup 2023 sports event in Hà Nội.

CrossFi is led by CEO Alexander Mamasidikov, a digital marketing expert and strategist with extensive experience in blockchain technology, fintech, and banking solutions. Under his leadership, CrossFi has positioned itself as a key player in Web3 finance, bridging traditional and decentralized financial systems. The project’s CFO, Bogorodsky Fyodor, has a strong background in traditional finance, having previously been involved in the issuance of Venezuela’s Petro digital currency and founding StreamPay SA, a European financial institution specializing in card issuance and financial processing platforms.

Looking ahead, CrossFi is focused on expanding its Web3 banking capabilities, integrating XFI with Visa payments, and supporting global adoption of decentralized financial solutions.

How Does CrossFi Work? CrossFi Chain and Cosmos SDK

CrossFi Chain is a layer 1 blockchain built for scalability, interoperability, and developer accessibility. Its modular architecture consists of two integral components: Cosmos SDK and Ethereum Virtual Machine (EVM), each responsible for specific functions while working synchronously as a unified network. This structure ensures high-speed transactions, cross-chain asset transfers, and a developer-friendly environment, making CrossFi Chain a core infrastructure layer for decentralized finance (DeFi) and Web3 banking solutions.

Source: docs.crossfi.org

The Cosmos-based layer of CrossFi Chain is responsible for block production, verification, and consensus management. It utilizes Tendermint, a Byzantine Fault Tolerant (BFT) consensus mechanism, ensuring fast finality, network security, and decentralized governance. By leveraging Cosmos SDK, CrossFi benefits from scalable interoperability, allowing seamless asset transfers between multiple blockchain networks. The Tendermint consensus mechanism enhances performance by processing transactions in parallel, reducing latency and optimizing transaction speeds.

The EVM-based layer ensures full compatibility with Ethereum’s ecosystem, allowing developers to deploy smart contracts and decentralized applications (DApps) without modification. Through Ethermint and Evmos, CrossFi enables Ethereum-based applications to function on its network, providing access to EVM tools, Solidity libraries, and Ethereum’s developer ecosystem. This compatibility allows CrossFi to seamlessly integrate with existing DeFi protocols, NFT marketplaces, and enterprise applications, facilitating cross-chain liquidity and broader financial accessibility.

CrossFi Chain is designed for high throughput, with a base transaction speed of 10,000 transactions per second (TPS) and potential scalability up to 1 million operations per second. This exceptional speed enables low-cost, high-efficiency processing, making it ideal for DeFi transactions, real-world payments, supply chain tracking, and NFT minting. Its low gas fees further enhance usability, providing an accessible financial environment for both individual users and institutional investors.

Beyond scalability, CrossFi Chain prioritizes security and decentralization through its Delegated Proof-of-Stake (DPoS) consensus model. This model enables validators to stake tokens and participate in network governance, ensuring that decision-making remains decentralized and community-driven. By incentivizing staking and governance participation, CrossFi fosters a self-sustaining and resilient ecosystem that can adapt to market needs and regulatory developments.

CrossFi Chain also introduces seamless cross-chain interoperability, allowing users to transfer assets and execute smart contracts across multiple blockchain networks without compromising security. Through its cross-chain bridge and interoperability protocol, CrossFi enables trustless and decentralized asset transfers, expanding its use cases to include multi-chain DeFi applications, Web3 payment processing, and institutional finance integration.

Source: docs.crossfi.org

For developers, CrossFi Chain provides a comfortable and intuitive development environment, with fully EVM-compatible tools that integrate Solidity-based smart contracts, decentralized exchanges, automated market makers (AMMs), and liquidity farming protocols. By supporting Ethereum’s existing infrastructure, CrossFi simplifies the migration and deployment of DeFi applications, ensuring that developers can build and scale seamlessly without learning new programming frameworks.

Cosmos SDK

CrossFi Chain is built using Cosmos SDK, a powerful modular blockchain framework that enables the creation of customized, high-performance blockchains. The Cosmos SDK is responsible for block production, transaction verification, consensus, and new coin emissions, forming the foundational layer of CrossFi Chain’s architecture. By integrating Tendermint Core, CrossFi ensures fast, secure, and scalable transactions, making it an ideal infrastructure for DeFi applications, Web3 banking, and cross-chain asset management.

At the heart of CrossFi’s consensus mechanism is Tendermint, a Byzantine Fault Tolerant (BFT) protocol designed to enhance network security and decentralization. Tendermint ensures rapid transaction finality, with blocks produced every 5 seconds, and a DPoS (Delegated Proof of Stake) model that allows validators to participate in governance and block validation. The Tendermint consensus algorithm also eliminates fraudulent activities, as nodes transmitting incorrect information during validation are automatically blocked, preventing malicious behavior.

Cosmos SDK enables CrossFi to process up to 50,000 transactions per second (TPS), ensuring high throughput and low transaction fees. This scalability is essential for financial applications, cross-chain DeFi solutions, and enterprise-grade blockchain services. CrossFi’s multi-chain interoperability allows seamless movement of digital assets and smart contracts between different blockchain networks, enhancing its role as a financial bridge between traditional finance (TradFi) and DeFi.

Source: crossfi.org

The Cosmos-based part of CrossFi is also responsible for new coin emissions, ensuring a transparent and predictable supply mechanism for the XFI token. With each newly created block, XFI coins are issued and distributed across the network, supporting staking rewards, transaction processing, and ecosystem incentives. The combination of high-speed transactions, low fees, and cross-chain functionality positions CrossFi as a leading blockchain infrastructure for scalable financial applications.

Tendermint: Fast and Secure Consensus

Tendermint Core is the engine behind Cosmos SDK, providing security, decentralization, and efficiency. Unlike traditional Proof-of-Work (PoW) systems, which rely on energy-intensive mining, Tendermint uses a Proof-of-Stake (PoS) model, reducing computational requirements while maintaining network security and decentralization.

One of Tendermint’s key advantages is instant transaction finality. Unlike other blockchains where transactions must wait for multiple confirmations, Tendermint finalizes transactions in a single block, ensuring faster execution and minimal delays. With a block time of 5 seconds, CrossFi achieves fast processing speeds, making it suitable for real-time payments, high-frequency trading, and large-scale financial applications.

Another critical aspect of Tendermint is its fault tolerance. The consensus mechanism is Byzantine Fault Tolerant (BFT), which remains secure even if up to one-third of network validators are compromised. This robust security model makes CrossFi ideal for financial institutions, enterprises, and developers seeking a highly reliable blockchain platform.

The Cosmos SDK allows developers to focus on building applications without worrying about consensus or network infrastructure, while Tendermint ensures fast, secure, and final transaction processing.

With DPoS consensus, a validator network of 128 nodes, and a transaction fee as low as $0.02, CrossFi provides an optimized blockchain environment that caters to both developers and financial institutions. Its ability to seamlessly transfer assets across multiple chains further strengthens its position as a foundational layer for Web3 finance and decentralized banking solutions.

Source: crossfi.org

CrossFi Use Cases

By integrating Cosmos SDK and EVM compatibility, CrossFi provides a scalable and developer-friendly environment for a wide range of applications. Below are three primary use cases:

• Web3 Banking and Payments: CrossFi enables seamless on-chain payments through its Web3 banking system and CrossFi Card, allowing users to spend cryptocurrencies like fiat at over 100 million merchants worldwide. With instant settlements and low fees, businesses and individuals can conduct real-world transactions without relying on traditional banks.
• Cross-Chain DeFi and Asset Interoperability: CrossFi’s cross-chain bridges and interoperability protocols allow users to transfer assets between multiple blockchain networks securely. Its xApp DeFi platform supports swaps, staking, and liquidity provision, enabling users to earn rewards while benefiting from low transaction costs and high-speed processing.
• Enterprise and Institutional Finance: By providing scalable blockchain infrastructure with up to 50,000 TPS, CrossFi enables institutions to build customized financial applications. From tokenized assets and stablecoins to cross-border remittances and decentralized credit systems, businesses can leverage CrossFi’s secure and compliant framework to integrate blockchain-based financial solutions.

CrossFi Main Features

EVM Compatibility

CrossFi is fully compatible with the Ethereum Virtual Machine (EVM), allowing developers to deploy smart contracts and decentralized applications (DApps) seamlessly. This is achieved through Ethermint and Evmos, two technologies that bring Ethereum’s capabilities into the Cosmos ecosystem.

The EVM-based part of CrossFi is responsible for smart contract execution, decentralized application deployment, and cross-chain compatibility. By integrating Ethermint, a Cosmos SDK library for EVM chains, CrossFi ensures high scalability, security, and efficiency for DeFi services. Evmos, the first decentralized EVM chain on Cosmos, further enhances cross-chain interoperability, enabling developers to create and transfer assets freely across multiple blockchains.

By leveraging Ethermint and Evmos, CrossFi enables:

• Full Ethereum compatibility – Developers can deploy Solidity-based smart contracts without modifications.
• DeFi services and payment solutions – CrossFi supports DEXs, lending platforms, and automated market makers (AMMs).
• Cross-chain bridges – Secure asset transfers between Ethereum, Cosmos, and EVM-compatible chains.
• Anonymous payments and biometric authentication – Enhancing security through 2FA and account abstraction.
• Integration with MetaMask and other Web3 wallets – Expanding accessibility for users and developers.

Source: crossfi.org

Security

CrossFi prioritizes blockchain security, fraud prevention, and data protection through decentralization, encryption, and advanced verification protocols. The platform employs world-class security measures, ensuring user funds, transactions, and data remain protected at every step.

Smart contract security is reinforced through rigorous audits, protecting against exploits and vulnerabilities. Web3 wallet security allows users to pay in XFI directly from their Metamask while ensuring funds remain safe. CrossFi meets PCI DSS compliance standards, safeguarding cardholder data. Strong encryption and AI-driven fraud detection prevent unauthorized access, while KYC verification secures accounts against fraudulent activity. Additionally, CrossFi cannot access users’ private keys, seed phrases, or funds, maintaining a trustless and transparent system. With constant security audits and real-time monitoring, CrossFi offers a highly secure blockchain ecosystem for global financial transactions.

Source: crossfi.org

CrossFi Foundation

The CrossFi Foundation is a nonprofit organization dedicated to expanding and enhancing the Cross-Finance ecosystem. It provides financial assistance, grants, and rewards to projects, developers, and validators who contribute to the network’s growth.

One of its key initiatives is the $50 million grant program, designed to fund ecosystem development and support builders, innovators, and content creators. The foundation encourages participation from users, ambassadors, developers, and validators, each playing a crucial role in strengthening the network.

• Users: Earn rewards by engaging with the network, testing services, and completing tasks.
• Ambassadors: Promote CrossFi’s mission, advocate for blockchain adoption, and earn incentives.
• Developers: Apply for grants to launch DApps and financial services on CrossFi Chain.
• Validators: Maintain network security and earn rewards by running validator nodes.

Source: xfi.foundation

Blockchain Ecosystem

The CrossFi blockchain ecosystem consists of decentralized products and services, enabling secure financial transactions and seamless asset management. It includes DeFi protocols, Web3 wallets, validator tools, and blockchain explorers, providing comprehensive access to blockchain infrastructure.

• DeFi Protocols and DApps: CrossFi powers decentralized exchanges (DEXs), lending platforms, and staking mechanisms, opening up new financial opportunities for users.
• Explorers: Users can track blocks, transactions, coins, and validator performance in real-time.
• Wallets: Secure Web3 wallets allow users to store, manage, and transfer assets across multiple chains.
• Validator Tools: Developers and operators can join CrossFi’s validator network to contribute to decentralization and network security.

Source: crossfi.org

CrossFi Products

Web3 Banking – The CrossFi App

The CrossFi App is a Web3 banking platform that allows users to spend, send, and receive cryptocurrencies as easily as fiat money. With over 100 million merchants worldwide, users can pay directly from their smart contracts, ensuring instant and decentralized transactions.

A key feature of the CrossFi App is automatic crypto-to-fiat conversion, eliminating the need for manual currency exchanges. With instant, decentralized, and secure transactions, users can seamlessly use crypto for everyday payments without worrying about currency compatibility.

Additionally, the app allows instant transfers via phone number, making crypto transactions as simple as sending a text message. Instead of requiring complex wallet addresses, users can transfer funds directly to other CrossFi users using only their phone numbers, ensuring secure and error-free transactions.

With non-custodial on-chain transactions, CrossFi ensures that users retain full control over their funds. Unlike traditional banks, which can freeze or block accounts, CrossFi’s payment gateway connects banking processing directly to Metamask wallets, guaranteeing full decentralization and user sovereignty over assets.

Source: crossfi.org

CrossFi Card – On-Chain Crypto Payments

The CrossFi Card is a decentralized payment solution that allows users to spend crypto like fiat, both online and offline. With no card limits, borders, or third-party access, users can use their Web3 wallets to pay at over 100 million merchants worldwide.

CrossFi introduces the first fully on-chain crypto-to-fiat payment system, directly linking banking processing with blockchain security. By integrating smart contracts, CrossFi allows users to spend XFI directly from Metamask, ensuring full transparency and decentralization. Every transaction includes a blockchain hash, allowing users to verify payments in real-time using blockchain explorers.

The CrossFi Card offers significant benefits, including low fees (2% on transactions) and free ATM withdrawals up to $300. Unlike custodial crypto cards, where funds are controlled by a central entity, the CrossFi Card ensures that users retain full ownership of their XFI tokens, with no risk of funds being frozen or restricted.

With free card ordering and account maintenance, users can quickly obtain a virtual or physical card, manage their assets via the CrossFi App, and enjoy a fully decentralized financial experience without hidden conditions or limitations.

Source: crossfi.org

CrossFi xAPP – Decentralized Finance

The CrossFi xAPP is a powerful decentralized finance (DeFi) platform, providing users with a comprehensive suite of financial tools to manage and utilize digital assets efficiently. Built on CrossFi Chain, the xAPP integrates cross-chain asset transfers, staking, liquidity provision, and token swaps, offering an accessible and user-friendly DeFi experience.

One of the key features of the CrossFi xAPP is its liquidity pools, which allow users to earn passive income by providing liquidity to XFI, XUSD, and eMPX pools. By contributing assets, liquidity providers receive LP tokens, which can be staked for additional rewards. The platform’s staking mechanisms further enhance earning potential, as users can stake LP tokens to earn XFI, esXFI, and ETH incentives while supporting the network’s liquidity.

The swap feature simplifies asset exchanges, allowing users to instantly swap between USDT, XUSD, XFI, wXFI, and eMPX within the CrossFi ecosystem. This enables frictionless trading and asset management without the need for external platforms. Additionally, the bridge function ensures secure and efficient asset transfers between EVM-compatible blockchains, enabling users to move liquidity seamlessly across multiple networks while maintaining full decentralization.

Beyond trading, the xAPP incorporates staking and escrow mechanisms, allowing users to lock tokens for a specified period to maximize yield and rewards. The reward distribution system is designed to incentivize active participation, providing ETH, XFI, and esXFI rewards to liquidity providers and long-term stakers.

With decentralization at its core, the CrossFi xAPP serves as a secure and transparent financial hub, eliminating reliance on centralized financial intermediaries. By integrating staking, liquidity farming, asset bridging, and token swaps into a single streamlined platform, CrossFi xAPP delivers a robust, decentralized financial ecosystem for users worldwide.

Source: crossfi.org

What is the XFI Coin?

XFI is CrossFi’s native token, used for transactions, staking, governance, and DeFi. Its maximum supply is capped at 378.43 million units, of which 52.22 million are already in circulation (March 2025).

XFI is the primary means of payment and access to all products and services within the EVM-based part of CrossFi Chain. With a limited emission model, XFI is designed to balance inflation and deflation, ensuring its long-term value within the Cross Finance ecosystem. It powers transactions within the CrossFi App, CrossFi Card, and DeFi application xAPP, providing users with a seamless Web3 banking experience and financial opportunities in DeFi services.

Source: crossfi.org

The XFI emission model follows a structured distribution over 20 years, gradually decreasing the supply to reduce inflation. In the first four years, 5 XFI coins are issued per block, totaling 126,144,000 XFI. Every four years, block rewards decrease—from 4 XFI per block in years 5-8, down to 1 XFI per block in years 17-20, reaching a total supply cap of 378,432,000 XFI. However, due to continuous fee-burning mechanisms, the actual circulating supply will remain lower, ensuring a deflationary effect over time.

As XFI’s supply decreases, its utility increases, creating a supply shortage that could drive market demand. The CrossFi Foundation actively supports the growth of the XFI ecosystem through grant initiatives and hackathons, encouraging developers to build new applications and expand its use cases. Users can also earn XFI by staking MPX coins, which is the most reliable way to accumulate XFI during its issuance period.

Source: crossfi.org

MPX

MPX, or Mint Power, is the governance coin of CrossFi Chain. It serves as a nonvolatile staking asset with unlimited emission. It plays a crucial role in securing the network, generating new XFI coins through staking, and paying transaction fees in the Cosmos-based part of the blockchain. Unlike XFI, which has a limited emission model, MPX functions as a unit of computing power, meaning it is required for validating transactions and mining new XFI tokens.

The initial issuance of MPX was 4 billion tokens, with funds from its implementation allocated to ecosystem development, liquidity provision, and network security. 35% of the funds go towards developing banking sector products, while another 35% is allocated to DeFi applications. Additionally, 10% supports XFI liquidity pools, 10% is directed to marketing efforts, 2.5% is reserved for advisors, and 2.5% is allocated to the CrossFi development team. This structured allocation ensures continuous growth and innovation within the ecosystem.

Source: crossfi.org

MPX staking is a long-term passive earnings tool, as it allows users to earn XFI rewards based on the staking Annual Percentage Rate (APR). The APR fluctuates based on XFI’s market price and the total MPX staked in the network. If XFI’s price increases, APR rises, making MPX staking more profitable. However, as more users stake MPX, the APR decreases. This dynamic ensures a balance between technical and market demand for XFI, maintaining its value stability and long-term growth potential.

MPX also serves a governance function, enabling holders to vote on essential blockchain updates, protocol changes, and network optimizations. Stakers can propose and influence decisions, ensuring a decentralized governance model that aligns with the community’s interests.

For users looking for greater liquidity, eMPX offers an EVM-compatible version of MPX with a limited supply. Unlike MPX, which is tied to staking and network participation, eMPX can be freely traded, sold, or purchased within the EVM framework, allowing users to engage with Ethereum-based DeFi applications. This flexibility makes eMPX a valuable asset for traders and liquidity providers looking to participate in CrossFi’s multi-chain financial ecosystem.

Source: crossfi.org

Is XFI a Good Investment?

XFI has strong utility within the CrossFi ecosystem, serving as the primary means of payment, staking, and governance across DeFi applications, Web3 banking, and cross-chain finance. Its gradual emission reduction and deflationary model could drive long-term scarcity and demand. However, XFI’s value depends on ecosystem adoption—if CrossFi fails to attract users and developers, liquidity and token utility could decline. Additionally, reliance on MPX staking for XFI mining means that market fluctuations in MPX could impact XFI’s overall stability and investor confidence.

How to Own XFI?

To own XFI, you can use the services of a centralized crypto exchange. Start by creating a Gate.io account, and get it verified and funded. Then you are ready to go through the steps to buy XFI.

News on CrossFi

As announced on 20 February 2025, on the official blog, CrossFi has addressed recent misinformation regarding its operations, particularly in the Vietnamese market. The company denies allegations of unauthorized promotional activities and reaffirms its commitment to compliance and security. CrossFi operates under EU regulations and recently passed an AML audit by CityLinkers. It is actively working with local authorities to counter fraudulent associations. Users are encouraged to verify information through official channels to maintain transparency and trust in the ecosystem.

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