New xPortal Super App Intends to Offer an Effective Mix of Finance, Crypto, Web3, and Metaverse Services

MultiversX Labs, the decentralized blockchain network known for its high levels of scalability and security features, announced the launch of the xPortal on February 28th.

In what MultiversX envisions to become a pivotal moment of how we experience digital finance, the app will offer an extensive suite of digital finance applications, including money and crypto, with encrypted social messaging features, AI avatars, a portal of web3 applications and Metaverse experiences. Summarily, it will be a combination of digital finance, social interaction, and Metaverse paradigms.

Beniamin Mincu, the CEO of MultiversX Labs, believes that xPortal is instrumental in the company's mission "to build the backbone for a new digital financial system that spans across the physical and the metaverse world."

xPortal App Features

Using xPortal, users can conveniently send & receive money, crypto, and NFTs. It is also possible to make payments and track investments with a few clicks on the app.

xPortal users can also leverage the benefits of debit cards through the xPortal application. That's just the tip of the iceberg, as finance, crypto, NFTs, or Metaverse - all become explorable with xPortal Super App.

In a significant enhancement to its experiential value, xPortal offers personalization of services with AI avatars. Users can access a variety of apps and metaverse experiences through the xPortal digital app store. And by exploring these stores, they can stay updated on everything latest that the Web3 and Metaverse offer.

Sergiu Biris, the Head of Product for MultiversX Labs, believes that the "xPortal app's ability to make Web3 and the Metaverse accessible to any smartphone user in the world, shifts the entire conversation around all-accessible digital experiences from a vision of the future, into a reality today."

The Launch of the xPortal Super App

The launch on 28th February will accompany a championship with a prize pool of 900 EGLD tokens. To become eligible as a participant in this competition, one must register with an email id and phone number on the xPortal. Next, they must install the xPortal app as and when it becomes live on 28th February.

Elron's native token EGLD, which the xPortal is offering as prizes in the championship launch, is also used by MultiversX to reward its community and active participants. Although EGLD is currently priced at around US$50, its all-time high was more than US$540 on November 23rd, 2021.

xPortal: Usability and Trust

Maiar is a digital wallet and global payments app with over a million downloads on Google Play Store. It will transform into the xPortal App on February 28th with a significant volume of enhancements while retaining its earlier benefits.

Creating a wallet through it would only require the user's phone number. But the convenience offered by xPortal does not come at the cost of security or privacy. The app, as was done by Maiar, would provide a digital identity layer that would start with a service mapping of the phone number to a wallet address while protecting the privacy and allowing users to send money to their contacts via the address book.

Sending EGLD or crypto would just be as simple as sending a message, and the transfers would be instant, and that, too, at negligible fees.

Although security and privacy remain xPortal's top priority, that won't be detrimental to its usability, as it is adopting a specialized process called progressive security.

The app's first iteration gained over 1.1 million users in a little more than a year. And with its upcoming launch, xPortal, this time, aims to onboard one billion users. It will do so by going beyond being a repository of valuable services, experiences, and applications, as it wants to introduce a whole sort of engaging features to its users.

Going by the words of Beniamin Mincu, the CEO, xPortal's aim "is that everyone, no matter where they are or what their background is, should have easy access to secure and efficient financial services that can help them achieve their goals and live their best lives."