Due to increased regulations around the world we are discouraging the use of USD currency in SouthXchange. We will be aiming to use TrueUSD (TUSD) as its main replacement. TUSD is a cryptocurrency pegged 1:1 to the US Dollar.
You can still use credit and debit cards, but in SouthXchange you will receive cryptocurrencies, not USD.
The following changes take effect immediately as of today:
- We are adding extra liquidity to buy your USD. This will be the main mechanism to slowly remove USD from SouthXchange. You will see this liquidity in both BTC/USD and TUSD/USD markets.
- USD deposits are no longer possible. You can only use our payment processor to buy cryptocurrencies and get them in SouthXchange.
- USD withdrawals are no longer possible.
- User ID verification is disabled. Since USD cannot be deposited or withdrawn, KYC is disabled. You may still be requested to KYC through our payment processor though.