Company Information

Get to know Xare

Xare was a Singapore-based fintech company that provided a platform for sharing payment card access without revealing the physical card details. Users could create a virtual "Xare card" linked to their own credit or debit card and share it with family or friends. The recipient could then use this virtual card for online shopping and payments, with transactions being debited from the original owner's account. The company's mission was to democratize finance by enabling shared access to banking services, particularly targeting users in regions like India and the Middle East. Despite raising significant seed funding, the company ceased operations in March 2023.

Industry

Financial Electronic PaymentPRIMARY
Financial Other Service

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Xare

United Arab Emirates

Founded in

2020 (6 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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Security Information

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This company is currently Unproved.

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.