Xendit
Fintech in SEA
$3.00
Subscribe up to 50% off
$10,000
Remaining $9,955
3
Growing
10days
Flexible
Subscription Progress0%
2026-11-22Max Limit $10,000
Upcoming Market Events and Key Developments
Xendit is a payments company founded in 2015. It began in Indonesia and joined Y Combinator that year. Its platform lets businesses accept payments, send payouts and manage money through APIs and no-code tools. Xendit says it has its own bank connections, e-wallet integrations and licenses in Indonesia, the Philippines, Thailand, Malaysia, Vietnam, Singapore and Greater China. Which company this contract tracks: XENDIT-USDT tracks what the market expects the Xendit group as a whole to be worth. That means the value of the group's top-level holding company, not any single subsidiary. Xendit runs its regulated business through separate local companies, including: PT Sinar Digital Terdepan (Indonesia); Xendit Philippines Inc. (Philippines); Xendit Technology Co., Ltd. (Thailand); AppotaPay Joint Stock Company (Vietnam); Xendit Sdn. Bhd. and Payex PLT (Malaysia); Xendit Payments Singapore Pte. Ltd. (Singapore). The value of any one of these companies is not the value of the whole group.
Category Weight Distribution
Note: Xendit does not publish an audited revenue breakdown. The table below groups its products into categories but gives no percentages. These are not official reporting segments. Note on processed value: The amount of money Xendit processes is not its revenue. Revenue is the fees Xendit keeps after payment-method and partner costs, and that figure has not been disclosed.
| Business Category | % of Revenue | Details |
|---|---|---|
| Payment Acceptance (Money In) | % of RevenueNot disclosed | DetailsCards, e-wallets, virtual accounts, direct debit, QR and over-the-counter payments. Xendit reports 147+ payment methods. |
| Payouts and Disbursements (Money Out) | % of RevenueNot disclosed | DetailsTransfers to bank accounts and e-wallets. Xendit reports 300+ payout destinations. |
| Cross-Border Payments and Remittance | % of RevenueNot disclosed | DetailsCross-border payments and payouts, supported by remittance and money-transfer licenses in several markets. |
| Business Financial Services | % of RevenueNot disclosed | DetailsCorporate cards, financing, early settlement, business banking and banking-as-a-service. These are supported by finance-company, rural-bank and lending licenses held by group companies. |
Business Line
| Function | Weight / Scale |
|---|---|
| Payments Infrastructure | Weight / ScaleThe core business: one integration for accepting payments across many markets and payment methods. Xendit reports more than US$47.3B processed and 544M+ transactions in 2025, and 99.999% platform uptime (all company-reported). |
| Payouts and Platform Payments | Weight / ScaleBulk payouts, refunds and marketplace payment splitting through XenPlatform. Xendit does not disclose this business's share of revenue. |
| Licensed Local Entities | Weight / ScaleLicenses held by separate subsidiaries across Southeast Asia and Hong Kong. Each is regulated locally, and their roles should be treated separately in any valuation. |
| Strategic Investments and Acquisitions | Weight / ScaleIncludes a 2021 investment in Philippine payment gateway Dragonpay, a stake in Indonesia's Bank Sahabat Sampoerna announced in 2022, and a 2023 partnership with Malaysia's Payex. Ownership levels and financial contribution are not disclosed. |
| International Expansion | Weight / ScaleMexico terms and pricing are published. Other Latin American, U.S. and Australian launches were announced as plans. |
Contract Methodology
Name and affiliation: XENDIT-USDT is a contract symbol, not a stock ticker. This contract is not affiliated with, authorized by or endorsed by Xendit or any of its subsidiaries.
- 1Contract Pricing Basis
The XENDIT-USDT Pre-IPO Perpetual Contract tracks the market's expectations of the equity value of the Xendit parent holding company. The contract uses a fixed 1,000,000,000 reference units: Contract Price × 1,000,000,000 Reference Units = Contract-Implied Equity Valuation This is a synthetic reference-unit count, not Xendit's actual or estimated share count. Values are in USDT. Converting them to U.S. dollars depends on the USDT/USD exchange rate, and USDT could lose its peg to the dollar. The contract specifications explain how the following are handled: dilution, changes in ownership, subsidiaries, minority interests and major disposals.
- 2Price Discovery Mechanism
Before any IPO, the Mark Price is the average of eligible trade prices over the previous 10 seconds. It can move by no more than ±1% per second. The contract specifications set out: which trades count, and how they are weighted; minimum trading-activity requirements; how stale prices are handled; protections against manipulation; backup pricing methods; how funding rates and liquidation prices are calculated. This method does not guarantee a fair value, and it does not prevent liquidations. After a qualifying IPO, the contract may switch to tracking the listed share price, but only under the platform's published rules. Those rules cover: confirming that the listed company is the right one; market hours; currency conversion; trading halts; corporate actions.
- 3Reference-Unit Adjustment (Rebase)
If confirmed listing information calls for a different reference-unit count, the platform may apply a proportional adjustment, called a rebase, using a factor R: New position quantity = Old position quantity × R New contract price = Old contract price ÷ R The total value of each position stays the same at the moment of adjustment. A rebase does not create profit or loss. Entry prices, unrealized profit and loss, margin, liquidation levels, open orders and rounding are adjusted to match. Trading may pause for about five minutes during the adjustment. A major change to Xendit's business, such as a merger, spin-off or major sale, is handled under separate corporate-action rules, not as a routine rebase.
- 4Cash Settlement — No Equity Delivery
The contract settles in USDT cash only. It does not provide: shares in Xendit or any of its subsidiaries; voting rights, dividends or other shareholder rights; any guaranteed allocation in a future IPO. Any switch after an IPO, early termination, delisting or final settlement follows the published contract terms. A switch to a contract tracking listed shares is not guaranteed.
- 5Key Risk Disclosures
① IPO Uncertainty: No IPO date, issue price or share count has been announced. ② Price Volatility: Prices may change sharply. The pricing method does not guarantee a fair value. ③ Valuation Gap: The contract-implied value may differ greatly from private-market or future public-market values. ④ Liquidity Risk: Market depth and the ability to exit positions are not guaranteed. ⑤ Reference-Entity and Reference-Unit Risk: The contract tracks the Xendit parent holding company. The 1,000,000,000-unit count is synthetic, not a share count. ⑥ Leverage and Liquidation Risk: Margin, funding payments and liquidation can cause losses, including the loss of all margin. ⑦ Regulatory and Restructuring Risk: Changes to Xendit's structure or business, or to the rules on this contract, may affect the contract or whether you are allowed to trade it. ⑧ Platform and Settlement Risk: Risks include operational failures, custody, counterparty exposure, withdrawal limits and risks specific to USDT. Information is based on public sources available as of November 2026. Company-reported figures are not independently audited. Nothing on this page is investment advice.
Subscription Eligibility
Users must meet all of the following conditions to participate:
- 1Registered platform account
- 2Completed KYC identity verification
- 3Account in good standing (not frozen or restricted)
- 4Sufficient USDT balance in account
Tier Requirements
- Explorer (Max Purchase: 12 USDT): No requirement
- Trader (Max Purchase: 21 USDT): ≥$100K traded or 3 invite
- Elite (Max Purchase: 30 USDT): ≥$1M traded or 10 invite
- Genesis (Max Purchase: 51 USDT): ≥$10M traded or 30 invite
Friends should complete their first trade.
Category Weight Distribution
- Cumulative subscription amount must not exceed tier cap or remaining project quota
- No subscriptions allowed after project deadline
- Same user may subscribe multiple times; each subscription is calculated independently
- When membership tier changes, existing share price and quantity remain unchanged; only available subscription quota adjusts with tier
Share Allocation
- Upon successful subscription, the system locks the corresponding funds
- After project launch, token shares are automatically allocated proportionally
- Allocation rules will be clearly displayed on the results or information page
- If the project fails to meet establishment conditions (e.g., minimum funding not reached), the system will automatically refund to user accounts
Risk Disclosure
Market and Business Risk
Xendit's revenue depends on transaction volume, fee levels and the mix of payment methods its merchants use. Several things could hurt its results: lower merchant volumes or merchants leaving; price competition from regional and global payment companies; higher costs from payment networks, banks or e-wallet partners; fraud and chargeback losses; the cost of entering new regions. Pricing changes, such as the October 2026 fee update, may affect merchant retention. Past growth does not guarantee future results or contract returns.
IPO Uncertainty Risk
Xendit has not announced an IPO. The "Pre-IPO" label describes the contract type only. It does not mean a listing is planned, likely or certain. A listing could be delayed indefinitely, or never happen. Xendit could also be acquired, restructured, or list a different group company instead. A listing of a subsidiary or regional business does not automatically count as a qualifying event for this contract. Qualifying events are defined in the contract specifications.
Funding and Liquidity Risk
Four separate things should not be confused: Xendit's own funding and cash resources; whether Xendit's private shares can be transferred or sold; how much liquidity there is in this contract's order book; the platform's ability to process withdrawals and settle contracts. Spreads may be wide. Traders may face slippage and trading interruptions, and may struggle to close positions. No market maker is guaranteed.
Valuation Gap Risk
The contract price shows what traders expect. It is not an official valuation of Xendit. It may differ greatly from: past funding rounds, such as the 2021 US$1 billion valuation; secondary-market trades in Xendit shares; any future IPO price. Private-market valuations vary with the date, share class, investor rights, dilution and whether a deal was completed. The valuation of a single subsidiary or regional business is not the value of the whole group.
Regulatory Risk
Xendit operates under financial licenses in several countries. Changes in payment, lending, remittance, anti-money-laundering or data rules could raise its costs or limit what it can offer. These rules apply to Xendit's own business. They are separate from the rules that apply to this contract. This contract is a derivative, and whether it may be offered or traded depends on where you live. Settlement in USDT, or the lack of any share delivery, does not by itself exempt the contract from financial regulation.