XMG Fintech, once a layer-1 blockchain network, is a layer-2 platform built on the backbone of the Pecu Novus Blockchain Network, it consist of a peer to peer Digital Asset Payment Portal that was developed initially as a payment portal specifically for the MegaHoot Ecosystem but it is very scalable. The portal benefits from the security and speed of the Pecu Novus Blockchain Network which allows for blockchain enabled end to end encryption protocols to be put in place. It performs similar tasks as popular payment systems do such as Paypal, 2Checkout, Stripe and Square but it is peer to peer, self-custody and for digital assets. The portal will be integrated into all of MegaHoots platforms as well as the availability of secured API’s for verified platforms outside of MegaHoots ecosystem that want to use the XMG Digital Asset Payment Portal on their systems for secure peer to peer digital asset payments.
The platform acts as a lightning network on the Pecu Novus Blockchain Network to allow for swift transactions and avoids any potential lag or bottlenecking in transaction confirmations as the blockchain network grows in the future. Think of it as working similarly as the Lightning Network works for Bitcoin but different.
XMG Fintech has a digital token called “XMG” or “XMG Coin” which allows for quick conversions in real-time from PECU coins to XMG coins on-chain in real-time. The XMG coin is also created on the Pecu Novus Blockchain Network and allows MegaHoot members to purchase digital items across the entire MegaHoot ecosystem as well as conduct risk management should PECU coins become volatile. The XMG Coin is pegged to the value of the U.S. Dollar and will be backed by PECU Coins in a liquidity pool that is publicly viewable.
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