Remittix Labs Enters the PayFi Landscape with a $100M Investment Fund

Remittix Labs's back in hot water— the court just shut down a deal with the Securities and Exchange Commission (SEC) over a request to amend a previous agreement. Market responded quickly: RTX dipped to as low as $0.0705.

CoinDesk contributor Benzinga provides market analysis on three trending tokens: XRP, PI Network and Remittix.

What Happened: At the time of writing, XRP’s price hovered between $2.37 and $2.50, retracing its previous surge.

Earlier this week, XRP price nearly breached $2.60 as traders tested this key resistance level and pushed the cryptocurrency price lower than $2.50.

Then, there was a new development in the ongoing Ripple Labs legal drama, with the crypto’s price dipping to lows of $2.37.

However, analysts noted that these were minor blips in the overall potential of XRP price in the long term. According to DK64Trades, "@DK64Trades," XRP still can hit $10, and it depends mainly on the XRP dominance chart.

He stated that the XRP.D’s all-time high was at 31.33%, for $3.84. A few months ago, the crypto was trading at around $3.40, with a dominance of less than 5%.

“Now with 6x lower dominance, $10 is a possibility for XRP.”

PI Network price dropped after the announcement of a $100 million fund. Credit: TradingView

Another crypto that’s trending is PI Network, which launched a $100 million fund.

Recently, PI Network has been one of the hottest trends in the crypto market. The token price is up 43% month-over-month. It started its recent run on May 8th and reached highs of $1.57 on May 12th, on trading volume above $1.7 billion.

On May 14th, the developers announced the launch of a $100 million investment initiative, which aims to expand the use cases and utility of PI.

The announcement, which was teased a few weeks ago, helped push PI’s price above $1.50, with the community buzzing over a Binance listing. However, the community got an announcement on an investment, which was received poorly and the price dropped 25% in 24 hours.

Related Link: 5 Things You Need To Know About PI Network

Coming up, here’s a look at a PayFi token that’s still in pre-sale.

Remittix is entering the conversation at a time when cross-border payments are rapidly changing. Fintech platforms like Spribe and Wise are introducing new solutions for efficient fiat-to-fiat settlements, while Coinbase is expanding the market with its support for crypto-to-crypto transactions.

Despite these advancements, the industry isn’t yet operating at optimal levels of reliability and efficiency.

To fill this gap, Remittix offers a unique Pay API for crypto-to-fiat transactions, seamlessly integrated with a smart contract. This integration ensures cost-effectiveness for Remittix's Pay API solution. It promises zero FX fees, no extra charges for bank wires, and an absence of any hidden costs.

The Pay API is designed with ease of use in mind, featuring a user-friendly interface that simplifies the process of approving crypto-to-fiat payments. Users can enjoy same-day international payments and receive funds directly into their bank accounts in over 30 currencies, with complete transparency throughout the transaction.

Remittix is currently in the presale stage of its ERC-20-based token, RTX, which is being sold in two stages. The first stage of the presale has already raised $25 million. Initially priced at $0.015, the RTX token is now offered at $0.0757, with another price increase to $0.0781 on the horizon.

Buyers who participated at the start of the presale have already realized an ROI of over 400%, and with further price rises anticipated, the potential for even greater returns is on the cards.

Those interested in joining the Remittix presale can find additional information via the following links:

Website: https://remittix.io/

Socials: https://linktr.ee/remittix