XMoney simplifies KYC, allowing account opening with only basic information.

PANews reported on March 8 that, according to crypto KOL AB Kuai.Dong's disclosure of the X Money account opening process, currently only a name, Social Security number (similar to an ID card number), and residential address are required for successful account opening. Security verification is completed using Apple's facial recognition or a PIN code, and the entire process takes less than one minute.

It is understood that in addition to the virtual debit card, the X Money feature will also have a physical savings card, which can be used for cash withdrawals and daily card payments via ATMs. The limit for a single bank transfer is $1 million, and the limit for withdrawals is $100,000.