# Sample FXPool Remittance Flow

{% hint style="info" %}
This demo uses a fictional Philippine Peso Stablecoin "XPHP" to illustrate what a cross border stablecoin settlement looks like on a Xave FXPool. Any branding or user interface elements in this demo does not reflect any official partnerships nor commercial arrangements. 
{% endhint %}

### Legend

| Term   | Description                                                                                                               |
| ------ | ------------------------------------------------------------------------------------------------------------------------- |
| XSGD   | the Singapore Dollar backed stablecoin issued by <http://straitsx.com> as regulated by the Monetary Autority of Singapore |
| XPHP   | a placeholder name for a Philippine Peso Stablecoin                                                                       |
| FXPool | an "Automated Market Maker" optimized for stablecoin to stablecoin trades at market accurate prices                       |

### Demonstration

The below recording and demo app illustrates what a cross border bank transfer for 100 SGD -> equivalent PHP would look like to a user if powered by our FXPools that enable;

1. Instant Settlement
2. 24/7 algorithmic rebalancing FX liquidity
3. 5 - 10x cheaper cross border settlement
4. The demo was built using Xave's FXPools and the sandbox APIs of StraitsX and an XPHP issuer that enables the following money flow:

### Demo Access

See what 24/7365 stablecoin powered remittance looks like <https://remittance-demo.xave.co/>.

**Demo Credentials:**

1. Sender: username is `sender`. leave password blank
2. Receiver: username is `receiver`. leave password blank.&#x20;

<figure><img src="https://997825278-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FeNhFlKNuknOuWZlAweU6%2Fuploads%2FyvUIgqr4QNT94azZTVs0%2FSequence-01_1.gif?alt=media&#x26;token=c1f8abb8-dc41-4eed-8054-3398cfff156a" alt=""><figcaption></figcaption></figure>

**Detailed Money Flow:**

[See Miro diagram](https://miro.com/app/board/uXjVK5aQeMU=/?share_link_id=193629915389) (request for password from <marketing@xave.co>)

1. **Cash-in via PayNow**: A sender initiates a transaction by sending money from a Singaporean bank using the PayNow. PayNow is a peer-to-peer funds transfer service available in Singapore that allows users to send and receive SGD nstantly.
2. **Minting of XSGD Tokens**: Once the payment is confirmed as completed, an equivalent amount of XSGD tokens is minted and loaded onto the user's digital wallet.
3. **Conversion of XSGD to XPHP Tokens**: The sender then transfers the XSGD tokens to the recipient. As part of this transfer, the XSGD tokens are converted into XPHP tokens through Xave FX Pools.
4. **Transfer of XPHP Tokens to Receiver Wallet**: The XPHP tokens are sent to a unique wallet address that is linked to the receiver's Philippine bank account.
5. **Redemption of XPHP for PHP Cash**: Once the XPHP tokens are received in the linked wallet, they are redeemed for Philippine Pesos (PHP) and then credited to the user’s Philippine bank account.

| Action                             | Money Flow   | Underlying Tech                                                            |
| ---------------------------------- | ------------ | -------------------------------------------------------------------------- |
| User cash in from SG  bank accout  | SGD -> XSGD  | ​[StraitsX SGD API](https://www.straitsx.com/business-account#paymentapi)​ |
| Stablecoin FX                      | XSGD -> XPHP | Xave "FXPool"                                                              |
| User cash out to PH receiving bank | XPHP -> PHP  | XPHP Stablecoin API                                                        |