Xank Review: Free-Floating Cryptocurrency With a Stablecoin Feature

[FeaturedIt goes without saying that the cryptocurrency market, in general, has come a long way over the past few years. However, there are still some fundamental challenges that persist and it appears that most of them come to light when it comes to handling typical transactions. 

While cryptocurrency transactions are undoubtedly quicker and cheaper than conventional bank wires, their volatility usually presents a lot of challenges. Hence, that’s why a lot of merchants that already accept them tend to immediately use a crypto-to-fiat merchant service in order to avoid losses. 

This is where Xank comes into play. In order to achieve price stability, the protocol of Xank implements design elements from some of the leading cryptocurrencies and combines them with a conceptual framework which is based on the concepts of stable money. 

What is Xank?

Xank presents itself as the world’s first free-floating cryptocurrency with stable transactions, as well as investment value. Despite being a free-floating cryptocurrency just like Bitcoin or Ethereum, for instance, it also implements the so-called Stable Pay feature which allows users to also use it as a stable coin. 

How Does Stable Pay Work?

Stable Pay is a unique feature of the Xank protocol which allows parties to transact without having to worry about fluctuations in price. The way it works is pretty simple. When using the Stable Pay feature, users can rest assured that the amount of the transaction is what the end user will be receiving and having in the future. 

For example, if one user sends another one $100 worth of XANK coins, the receiver will always have $100 in his wallet. If the price increases, the network will automatically withdraw the gains above $100 to leave the user with the exact amount. If the price decreases, the network will deposit additional XANK coins in order for the amount to add up to the value of the initial transaction. 

The Stable Pay feature is possible as it maintains a “per transaction” simulated peg to the IMF SDR (Special Drawing Rights). According to the White Paper, the SDR is an international reserve asset, the price of which represents a bundle of currencies and can’t be arbitrarily manipulated by any of the member countries that it chooses to employ. 

Different Use Cases


Xank allows cryptocurrency and digital asset exchanges to overcome quite a lot of the hurdles that they are currently facing, including, but not limited to:

  • 3-7 days for international wire transfers to clear upon withdrawal or deposit of fiat
  • Arbitrary currency conversion charges and procedures
  • Prohibitive costs for small value transfers

Xank claims to allow exchange users to move fiat-denominated crypto with little to no friction. It also promises to outsource the exchange’s custodial risk and to take advantage of the Xank Reserve stabilizing mechanism. 


When it comes to individuals, Xank aims to serve quite a lot of purposes. It’s intended to facilitate traders who are looking to find a return on digital assets, as well as to cryptocurrency holders who are looking at the long-term value proposition. It’s also appropriate for those who look to avoid hefty credit card and remittance fees when shopping and transacting. 


Xank promises to introduce a payments system which works seamlessly with merchants’ operations so that they can focus entirely on their business. In a world which is increasingly connected, payments have to be made inexpensively across borders and Xank promises to allow that. 


Token Sale Details

Xank is currently in the private sale phase, and more details on the public sale will be made available at a later date.


All in all, Xank seems like an interesting concept and one that doesn’t appear to exist in the current cryptocurrency landscape. Of course, combining the properties of a free-floating cryptocurrency with those of a stable coin will surely pose a broad range of challenges.

Yet, the idea behind it does seem like one with merit. Of course, it requires perfect execution and full transparency, especially when it comes to the Stable Pay feature and the potential challenges which may arise as a result of sudden and severe price fluctuations. 

The Pros:

  • Interesting concept and an innovative idea
  • Combines qualities of free-floating cryptocurrencies with those of a stable coin
  • Attempts to solve a lot of pressing issues
  • Presents various use cases

The Cons:

  • Faces a lot of challenges in the events of severe price fluctuations
  • Enters a very competitive market of existing stable coins

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