product of

XCARDTM

Location

COPYRIGHT 2018-2019 MOBILUM OÜ Lõõtsa tn 5 Tallinn Harjumaa 11415, Estonia

E-mail address

contact@xcard.io

01XCARD

TM

www.xcard.io

LEGAL DISCLAIMER

EXECUTIVE SUMMARY

CRYPTO WORLD

IN YOUR POCKET

BUY NOW

PAY LATER

INSTANT

TRANSACTIONS

00

XCARD is an all-in-one digital wallet & the most convenient crypto credit card. It enables you to perform any financial and

cryptocurrency transaction in real-time, with no limits. XCARD makes your experience with crypto as easy as FIAT money

whether it's your first time, or if you're an advanced user.

XCARD is a part of the Mobilum ecosystem which consists of a wallet, card, exchange & foundation API. All these

features combined create a leading “any to any” instant payment platform and point of sale system that integrates

crypto and fiat currencies with the most convenient payment methods – cards, wire transfers and wallet to wallet

transactions. With XCARD you can pay or receive a payment, the buyer and seller decide which currency they use –

independently.

XCARD provides the best execution rate, immediate transaction execution and the lowest fees on the market.

Cooperation with VISA and the implementation of new services such as SEPA (Target/TIPS) and SWIFT schemes allows

users to benefit from fast and cost effective transfers globally. XCARD’s platform is fully KYC AML compliant and

licensed by the financial supervision institutions of Lithuania and Estonia.

This document provides an initial summary of certain business objectives underlying the XCard

project. This document is expected to evolve over time as the project progresses, and the xcard

team may post modifications, revisions and/or updated drafts until the final document is published

prior to the date of the public token sale. This whitepaper sets out a description of the planned

xcard platform and the intended future use of the mbm token. This is being provided for

information purposes only and does not create any binding legal obligations. Participation in the

mbm token sale will be governed by separate agreement which you shall be required to accept in

order to make a contribution to xcard for the purchase of mbm tokens. This whitepaper is not an

offering document or prospectus, and is not intended to provide the basis of any investment

decision or contract.

Contents

1.CRYPTO CARD IN YOUR HAND 03

2. HOW XCARD WORKS 08

3. XCARD TECHNOLOGY 14

4. XCARD BUSINESS ENVIRONMENT 17

5. XCARD’S TOKEN SALE 22

02XCARD

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6. XCARD COMPANY 29

7. LEGAL 30

01XCARD

CRYPTOWORLD

IN YOUR HANDS

XCARDTM

Powered by:

www.xcard.io

04XCARD

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www.xcard.io

XCARD’S MISSION01

XCARDS MISSION IS TO CONNECT FIAT CURRENCIES

AND CRYPTOCURRENCIES IN REAL-TIME. WE ARE

ENABLING INSTANT PAYMENTS IN ANY

CRYPTOCURRENCY FOR THE FIRST TIME, DECREASING

THE TOTAL COST OF EACH TRANSACTION AND

GUARANTEEING THE MOST FAVOURABLE EXECUTION

FOR CUSTOMERS.

No Opportunities to Pay With Cryptocurrencies

Overly Long Settlement Intervals

05XCARD

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PROBLEM DEFINITION01

Thanks to cryptocurrencies, we have a great way to receive and send money. However, it is almost impossible to pay with

cryptos or tokens in any regular shop, taxi or even online. You have money in crypto but you cannot spend it.

Millions of people – who can’t do anything with their wealth.

Why is that?

CONSENSUS

MECHANISMS

LATENCY

COSTLY, SLOW AND

UNCERTAIN

TRANSFERS

DIFFICULT

ONBOARDING

PROCEDURES

LOW LIQUIDITY, HIGH

VOLATILITY AND

UNCERTAINTY

There are a lot of reports and stories that tells how to spend crypto in a trendy new bar or a corner store where the

customer can pay for drinks or snacks in Bitcoin, Ether or whatever new cryptocurrency. However these reports are

vastly exaggerated and the reality looks different. The number of commercial establishments that accept crypto is

estimated much lower than 0.1% worldwide. Those that accept cryptocurrencies are merely curiosities in our economy

and f or many of them it is just an experiment that is soon to be terminated. For example, many of the entries in

Coinmap, a world-wide directory of businesses that accept crypto are at any given time, already out of business or

have stopped accepting crypto. T his problem is a direct result of another: more technical challenge that is at the heart

of the lack of merchant adoption in cryptocurrencies.

The main feature that was and is responsible for the enthusiasm with which the blockchain is greeted in many

industries is at the same time the root of one of its major problems: the consensus mechanism. At their heart, Proof of

Work, Proof of Stake and other approaches to consensus are designed to disincentives cheating and fraudulent

transactions in the system. Honest transactions are confirmed by network participants. However, the distributed nature

of this process makes it slower than systems that rely on centralised authorities, such as classical credit card payment

systems. In the latter, the merchant receives immediate confirmation of a successful transaction and can be safely

assured that the transfer of funds has actually taken place. Not so in cryptocurrencies . I n order to be sure that the

transferred funds have actually been transferred from buyer to seller, the seller has to wait for a certain amount of

time and confirmations, rendering the system slow and inappropriate for real-time micro transactions, such as paying

for a coffee to go. Along with high transaction costs, this drawback has so far been a major obstacle to mainstream

adoption of cryptocurrency payments. The processes involved are incompatible with the routines and incre a sing time

pressure of everyone’s daily life. Moreover, the long transaction times lead to another disadvantage in cryptocurrency

economy.

06XCARD

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01

Risk of Fund-Freezing

High Inflation in FIAT Currencies

PROBLEM DEFINITION

High Volatility and Exchange Rate Risk

Due to their technical concept – consensus mechanisms and redundancy – cryptocurrency transfers may be fast, but

are not instant and real-time. Thus, in the time that a coin needs to be transferred from one address to another, the

exchange rate may have changed significantly, especially in times of high volatility. This will be true as long as people

pay most of their living expenses in FIAT currency. Commercial prices will be based on FIAT rates and then be

converted to cryptocurrency expressly for the purpose of paying in crypto. Then, crypto is converted back to FIAT

possibly as a significantly larger or smaller amount of FIAT than originally intended. This is a risk that neither business

p eople nor customers want to bear.

The idea that the use of cryptocurrencies will render your business or personal funds independent of the influence of

untrustworthy or even malicious third parties is a common misconception. Current solutions for convenient spending of

cryptocurrencies rely on a traditional electronic purse: a so-called pre-paid card model. This makes you dependent on

one particular card issuer, a classical centralized third party that blockchain technology once promised to make

redundant. Full dependence on one supplier is never a good way to manage risk. The vendor may stop supporting

cryptocurrencies at will, at any time or change their terms and conditions as they please. This has been recently e

xemplified by cryptocurrency exchange Coinbase, who chose to freeze the Wiki Leaks account without providing their

reasoning behind this to the public. What if tomorrow your business model, your industry or the country that your

business is based in is considered unacceptable by your payment provider?

The US Dollar has lost 90% of its value during last 100 years, not to mention the Indian Rupee, Venezuelan Bolivar or

Russian Rouble. In fact, most of the currencies that powered national economies 100 years ago have ceased to exist.

Most currencies in the developing world and so-called emerging markets are not considered stable by American or

European standards. Their elite and the emerging middle classes are looking for investment opportunities to keep their

funds safe from hyperinflation and devaluation. In fact, recent data shows that developing countries are already home

to almost two thirds of the global middle classes ( a bout 3 billion people overall). Yet income and wealth inequality in

these countries is still pronounced enough to give individuals and families with newly established wealth sufficient

reason to fear for the safety of their funds. The market potential for attractive and user-friendly crypto-based solutions

is remarkably high in countries that have traditionally been under-served by global payment providers: XCARD intends

to satisfy this demand.

07XCARD

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01SOLUTION

CREDIT CARD EASY TO USE ONBOARDING

IEO STARTS:

Q3 2019

The XCARD onboarding process is

easier then opening a bank account.

Buying crypto is as simple as paying

for coffee. Once onboarded, users

can trade instantaneously.

BEST EXECUTION RATE CRYPTO & FIAT BUY NOW, PAY LATER

XCARD aggregates data and

liquidity from different sources

(exchanges, brokers and own pools).

Its side-chain functionality allows

for all transactions to be most

efficient.

Thanks to the XCARD Buy Now Pay

Later solution our payment card is

the best option for crypto users.

The card is available to new

users instantly in the form of a

virtual card after signing up to

XCARD. The card is intended for

global multicurrency use. There

is no requirement to top up the

card in advance.

XCARD enables trading with

over 200 cryptos , FIAT to crypto

and crypto to FIAT conversion

directly and instantly. You can

use any payment card to buy

and spend crypto anytime. Pay

or withdraw via any ATM

worldwide.

XCARD’s crypto credit card by

VISA allows super safe use of

any crypto and FIAT assets

which can be spent instantly at

POS, in e-commerce and for

ATM cash withdrawals.

02HOW

XCARD WORKS

XCARDTM

Powered by:

www.xcard.io

08XCARD

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02

XCARD enables cryptocurrency spending on any existing credit card, debit card or prepaid card.

HOW XCARD WORKS

XCARD APP & BIOMETRIC CREDIT CARD

INTRO

You need to have an existing relationship with your bank or card provider who provides you with a physical payment

card. You can then top up this card using cryptocurrency or receive a loan on your card against cryptocurrency

collateral. Note: The processes described in this paragraph are indicative and will be fine-tuned at the implementation

stage of the project, to reflect the best possible customer experience for the service end users. All activities of

XCARD in the area of payment cards will follow respective international card schemes rules and regulations, and will

be implemented under proper licenses held either by XCARD’s business partners and service providers, or the

company itself.

XCARD also issue out its own payment cards to make your payments ultimately convenient and instant. In order to

use the service you need to download XCARD Mobile app. The card is available for new users instantly in the form

of a virtual card after signing up to XCARD Wallet. T he XCARD app connects cryptocurrency with your XCARD

crypto credit card. The app is available for iOS and Android mobile phones.

HOW XCARD PROCESS

WORKS

Allows

Any Crypto, Any FIAT.

XCARDTM

Powered by:

XCARDTM

Powered by:

MOBILUM

PLATFORM

CUSTOMER’S

COLD WALLET

LIQUIDITY

POOL

PAYMENT

PROVIDER

MARKET

1

2

7

34

5

HEDGE FUNDS

OLT

1234 5678 9012 34561234

Name Surname

VALIDTHRU 01/20

XCARDTM

XCARD

11XCARD

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XCARD will ensure that it takes the necessary steps to identify each customer using the platform.

XCARD supports both personal and business accounts.

XCARD defends against involvement in illicit activities, such as money laundering, by implementing anti-money

laundering procedures and corporate policies to verify the identity of all registered users of XCARD’s services.

The validity of documents used to support the opening of an account is to be confirmed before the account can be

finalized.

ACCOUNT OPENING AND IDENTY VERIFICATION

XCARDTM

XCARDTM

XCARDTM

XCARDTMMy Profile Complete your address Bank details Bank details

Next Submit

Name

Surname

Next Next

Male Female

Birthday

Day Month Year

Enter name

Enter surname

Address

Enter address

Street

Enter name

City

Enter name

Postal code

Enter name

Country

Upload bank statement

Upload passport scan

File

File

Bank name

Enter address

IBAN

Enter name

I accept terms of use and conditions

CONNECTING YOUR CARD TO XCARD

02HOW XCARD WORKS

First time users who want to utilize XCARD with their existing payment card must first connect that payment

card to the XCARD app. There are several different methods used by XCARD to connect your payment card: wire

transfer to the International Bank Account Number (IBAN) associated with the payment card, OCT (Original Credit

Transaction) for VISA cards, Money Send for MasterCard.

During the onboarding process of a payment card, the user must simply provide the payment card number and

details, or must scan the payment card. The IBAN can be obtained from a credit card or bank statement. XCARD

determines which payment method is supported and most convenient when topping up and/or adding credit to a

user's payment card.

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GETTING A LOAN

MBM TOKEN & FEES

OTHER AND FUTURE FUNCTIOLALITIES

02HOW XCARD WORKS

As an alternative to directly spending your crypto, you can choose to get a loan on your card using your

cryptocurrency as collateral. In this case your cryptocurrency is not spent and you can pay back the credit without

currency conversion.

If the period of the loan is within one day you are not paying any additional interest. If the period of the loan is

longer, there is a monthly interest charged on it. The interest is subject to change according to the market

conditions.

You can settle the credit by paying back the fiat currency, or you can choose not to pay in fiat, but settle the credit

from the cryptocurrency collateral.

In order to receive credit you need to deposit an equivalent value of your crypto that will be used as a collateral

increased by the risk-cover ratio. Depending on market conditions the collateral value may change (as the current

crypto to fiat value or risk-cover ratio may change). If the collateral value needed to secure the credit will

depreciate, we may ask the debt or top up the collateral. Otherwise we have the right to close the granted loan by

liquidating the collateral. All information (needed collateral value, risk-cover ratio for the particular crypto and given

period of loan) will be shown in the XCARD app before topping up the payment card with the loan.

Every payment is processed with the use of MBM Tokens. The user needs

to have 0,5% of the transaction value in MBM as a membership

requirement each time a transaction is made. This applies among others, to

all currency conversions and loans. In case of low liquidity on specific

assets, an additional 0,5% fee may apply.

In the future we will enable:

1. Lending your cryptos as a collateral for loans applied for by other

XCARD app users, which will allow you to obtain passive income on

your cryptos with a relatively controlled risk,

2. Adding more wallets in the future with the ability of instant

transfers and conversions between them, assuring low-cost and best

execution rates,

3. In the close future, XCARD will release an e-commerce widget that

will allow direct spending of your currencies (both crypto and fiat) to

e-commerce shops bypassing any intermediary. It will be quick,

affordable and reliable.

13XCARD

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TOPPING UP THE CRYPTO CURRENCY

SPENDING FIAT

MBM TOKEN & FEES

02HOW XCARD WORKS

When connecting a payment card to the XCARD app, XCARD will initiate a small test transaction which will

appear in the users card transaction history as an initial credit to your card. After the test transaction is verified

it is reversed.

Connecting a newly issued XCARDs payment card to your account will be fully automated and will not require

any actions from you.

After your already existing card is connected with the XCARD app, you can top up your card from the XCARD

app. First send Bitcoin, Ether or any other accepted cryptocurrency to your wallet in the XCARD app. From there,

you can choose to convert any amount of cryptocurrency to be spent on your card (limits set up by your payment

card issuer apply). It is intended that the XCARD Wallet and Platform will accept over 200 cryptocurrencies (inc. a

lts) and 150 FIATs. When you use a crypto payment card issued by XCARD you are able to make instant

transactions without topping up your card before.

When you use a crypto payment card issued by XCARD you are able to make instant transactions without topping

up your card before. If you use your existing payment card, after you have topped up your XCARD app, you can

convert your cryptocurrency for FIAT to spend immediately. XCARD uses direct transfer gateways to move the

converted FIAT currency to your card. It takes up to just few minutes to receive the money. If for a particular

payment card a given transfer period will be higher, the XCARD app will inform the user during the onboarding

process of the card. The XCARD app will notify you when the money is available on your card. After this, the

money is immediately spendable.

Providing Merchants the ability to accept payments in any currency and cryptocurrency instantly, and receiving that

payment in the fiat currency of their choice at the best execution rates, is a total game changer!

Users need to have 0,5% of the operation value in MBM Tokens. If the wallet holders have to pay for services, those are

settled in MBM Tokens as well.

03XCARD’S

TECHNOLOGY

XCARDTM

Powered by:

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15XCARD

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03XCARD TECHNOLOGY

XCARD’s extensive history and technical know-how of the payment services industry enables it to use modern to

provide a swift and smooth user experience.

Supported cards

Direct payment gateways

TECHNOLOGY

The Original Credit Transaction (OCT) method credits (pushes) funds to a recipient’s Visa account; optionally it is possible to debit (pull) those funds from a sender’s Visa account via Account Funding Transaction (AFT).* Visa: (https://developer.visa.com/legacy/products/vpp/documents/json/oct.html)

1

1

Money Send facilitates the delivery of funds quickly and securely, domestically and cross-border. MasterCard: https://www.mastercard.us/en-us/issuers/products-and-solutions/customer-needs/consumer-solutions/mastercardsend.html

2

Internatilizer - matching engine

XCARD will support all payment cards with a technical bank account number. Individual providers will be added to

the platform successively, however, from the very beginning of the operation, XCARD is looking to provide a quick

transaction with a guarantee of less than one day for: Visa, Visa Debit, Visa Electron, MasterCard, Maestro. XCARD is

also working towards to support for JCB, UnionPay, Diners, Club, Amex.

A payment gateway is a merchant service provided by an e-commerce application service provider that authorizes

credit card or direct payments processing typically for e-businesses, online retailers, bricks and clicks, or traditional

brick and mortar.

A payment gateway facilitates a payment transaction by the transfer of information between a payment portal, such as

a website, mobile phone or interactive voice response service, and the front end processor or acquiring bank.

XCARD connects to the major gateways to provide near instant transactions to its users.

For Visa cards, XCARD is looking to use OCT. OCT (Original Credit Transaction) is an innovative payment system for

fast and convenient fund transfers to eligible Visa cards. Cooperation with VISA and the implementation of new

services such as SEPA (Target/TIPS) and SWIFT schemes allows users to benefit from fast and cost effective transfers

globally.

For MasterCard, XCARD is looking to use Maestro and Money Send

Internalizer is the matching engine that matches the best FIAT prices for users that are converting currency.

The matching engine is one of the fastest and the most robust matching engine technology for the retail forex and

cryptocurrency market. Forex providers and exchange operators of all sizes can connect to the matching engine

technology using several ways i.e. FIX API and proprietary developed bridges.

We will use risk management tools which will calculate, check, control, filter and update all system parameters

constantly as trades are matched.

16XCARD

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Connection to exchanges

Data feeds for the price

03XCARD TECHNOLOGY

Exchanges are another essential part of the cryptocurrency ecosystem, matching buyers and sellers of the digital assets. Тhe rising number of cryptocurrency exchanges intensifies the rivalry among them, and the struggle to keep and attract customers.

XCARD instant loan backed by crypto is specifically designed to provide partnering digital asset exchanges with additional leverage and liquidity in order to support their margin lending activities, enabling them to reach higher capital efficiencies.

Access to comprehensive price discovery is vital to accurately value the cryptocurrency market. XCARD will use access to stream real-time and historical data for the most actively traded digital currencies. XCARD will offer multi-asset and multi-venue data from several cryptocurrency trading venues, markets, and exchanges globally.

04XCARD’S

BUSINESS

ENVIRONMENT

XCARDTM

Powered by:

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18XCARD

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04XCARD BUSINESS

ENVIRONMENT

XCARD’S COMPETETIVE LANDSCAPE

Competition

AbraXcard Revolut TAP NEXO MonacoCompe��on

Card issuer

Credit card available

Tokeneconomics

SupportedFIAT’s

SupportedCrypto-

currencies

Fundsecurity

Loan

Yes Yes Yes Yes Yes No

No Yes Yes Yes No No

Notoken

USD EURGBP

TenX

USD EURJPY

USD, EUR, GBP HKD, SGD JPY, AUD

Discounttoken

Notoken

Discounttoken

Discount &rewardtoken

150 FIAT's

24BTCETHLTC

21

MCOBTC

ETH, BNB28

BTCETHLTC

Hosted Wallet, Decentralized DB

Hosted Wallet, Centralized DB

Hosted Wallet, Centralized DB, Smart Contract

No Yes Yes Yes

USDTBA

No No

Hosted Wallet, Centralized DB

Hosted Wallet, Centralized DB

Rewardtoken

Hosted Wallet, Centralized DB

Top 30all ETHfamily

Mul�-Sig Cold Wallet &

Smart Contract

150 FIAT's

Yes

Yes

Membershiptoken

Yes

XCARD compete with the top companies on financial market but none of them combines financial services as XCARD does.

On contrary to Coinbase, a leading cryptocurrency exchange, XCARD allows users to purchase with FIATs not 4 but up to 30 different cryptocurrencies.

Works similar to Abra, a multi-asset trading platform but XCARD is based on specific economical earning system fueled by MBM token.

While Revolut provides debit cards only, XCARD offers credit card too.TAP allows users to the a loan using BTC, LTC, ETH as a collateral. XCARD extends this amount to 30 top cryptocurrencies.

Ability to connect any payment card to the wallet allows you to start using the platform within a minute. You do not have to wait until you get a payment card from us to start using our platform, as in TenX.

19XCARD

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04XCARD BUSINESS

ENVIRONMENT

COMPETETIVE ADVANTAGE

XCARD TARGET MARKET

XCARD is the only provider of a complex instant payments solution that features:

źan any to any currency conversion with a strong focus on customer experience

ź a multi-asset wallet equipped in a multi-currency payment card.

XCARD is the only Wallet & Biometric Crypto Credit Card on the market.

XCARD introduces a utility token, the MBM token that fuels the whole Platform that is the most liquid token in the

XCARD Wallet. Once regulation enables legitimate issuance of equity or security tokens, special benefits for investors

and MBM token holders will be offered

XCARD has already signed 9 strategic partnerships which include: Santander Bank, Visa (Principal Membership),

Gatelab (Part of London Stock Exchange Group), several trading exchanges and others that wills to utilize in their

business models solution provided by the XCARD.

XCARD’s team has a proven track record of more than 20 years in payment systems, payment cards, exchanges and

currency trade systems.

20M+ Crypto users are searching for immediate transfers and exchanges, loans and payments with the use of virtual

assets.

1000+ Crypto Exchanges have difficulties in processing FIAT operations. Exchanges can benefit from sharing liquidities,

external pools and order books, and white label solutions such as: payment cards, short term loans, instant transfers

of FIAT and crypto.

500+ ICO & Token Platforms suffer from a lack of instant token purchasing opportunity with any FIAT with any debit

or credit card, in a secure and convenient wallet, with improved liquidity.

75M+ Merchants who want to allow their customers to pay with cryptocurrencies, while they still receive FIATs.

300M+ Unbanked and young people who prefer freedom and ease of use. By 2023 XCARD can reach a 2% market

share worth $30 billion USD currently with 2 mln active users through cooperation with exchanges (two already in a

pipeline) and ICOs.

20XCARD

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04XCARD BUSINESS

ENVIRONMENT

REVENUE STREAMS

Card issuing fees:

withdrawal, card

and Interchange

fees etc

Crypto currency

spread

Loans interest:

loans secured by

deposit on XCARD

Transaction fees:

buy/sell/exchange

Transfer fees

worldwide, to any

IBAN or VISA,

MasterCard card

Licenses

for white label

services

Service fees: ICOs

listing fees, payments

for its tokens, marketing etc.

XCARD follows a simple and transparent business model that opens up several streams of revenue f or the

company. When exchanging one crypto or FIAT c urrency for another within a single day, XCARD c reates a spread

between the two exchange rates which constitutes XCARD’s first major source of revenue. When lending FIAT

currency to the user (with crypto as collateral), XCARD claims an interest of 10% monthly; XCARD’s second major

source of revenue. The interest is subject to change according to the market conditions.

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04XCARD BUSINESS

ENVIRONMENT

REVENUE PREDICTIONS

Revenue

Cost

Margin

Net profit

Newcustomers

Totalcustomers

ARPU

Year 1 Year 2 Year 3 Year 4 Year 5

$240M $2.1B $7.6B $15.4B $28.3B

$236,4M $2.1M $7.5M $15M $27M

$3,6M $41M $145M $370M $680M

$360k $4.1M $14.6M $36.9M $68M

40k 200k 400k 500k 750k

40k 240k 640k 1.140M 1.890M

$6k $9k $12k $13.5k $15k

AMPU 1.50% 1.90% 1.90% 2.40% 2.40%

VISA – Principal Membership Mobilus mokejimai UAB

(Mobilum LT) / XCARD received an invitation to the

Fintech In The Box programmy by VISA - a $100M

investment program for start-up projects selected by

VISA. XCARD will benefit from a fast track Principal

Membership process to become a VISA card issuer.

Gate Lab / London Stock Exchange – matching engine

middleware software (internalizer)

Santander Bank – Mobilus mokejimai UAB (Mobilum LT)

partnership with Santander Bank for worldwide money

transfers to cards and bank accounts.

PARTNERSHIPS

XCARDTM

GROWTH PREDICTIONS

40 000 Users$ 3.6 MLN Estimatedprofit

Year 1 Year 2

Year 3

Year 5

240 000 Users$ 41 MLN Es�matedprofit

640 000 Users$ 145 MLN Estimatedprofit

1 890 000 Users$ 670 MLN Estimatedprofit

Year 4

1 140 000 Users$ 370 MLN Estimatedprofit

BUSINESS STRATEGY

We expect to have a net operating margin equivalent

of no less than 0.35% of the turnover on exchanging

the assets, and no less than 10% monthly on fiat

lending for more than a day. The interest is subject to

change according to the market conditions.

XCARD’s business strategy will rely on partnerships

with renowned payment providers, as well as

reputable crypto and fiat exchanges. Relationships

with these fiat exchanges will not only contribute to

expanding XCARD’s user base but these exchanges

may also license XCARD’s solution and therefore

directly constitute another source of revenue (see

previous section).

Currently, we are in the process of establishing a

partnership with a top tier payment processor, one of

the major API providers in the industry, crypto-

exchanges, and brokers. Others are in the early stages

of negotiations.

05XCARD’S

TOKEN SALE

XCARDTM

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23XCARD

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05XCARD’S TOKEN SALE

MBM TOKEN

TOKEN UTILITY

01

02

03

MEMBERSHIP TOKEN

PAYING FEES

ACCESS TO

FOUNDATION API

The XCARD project is looking to raise funds through an XCARD IEO to bootstrap its platform economy around users,

business partners, lenders, and borrowers. The XCARD platform will be at the beta version stage at the launch of Initial

Exchange Offering.

MBM has a dual nature of an access token and a transaction fee token.

Users need to hold a certain number of MBM tokens to use and interact with the XCARD platform. The Initial Exchange

Offering event is the primary issuance of tokens and the first chance to purchase them. Users can later obtain tokens

through the XCARD platform itself, or independent brokers.

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05

FOUNDATION API

TOKEN FUNCTIONALITIES

MAIN FUNCTIONALITIES

XCARD aims to provide the best service for the lowest possible fees on the market. To achieve that, XCARD implements

MBM – it's native ERC-20 utility token which feeds the whole platform. Each operation performed on XCARD platform by

users (whether using wallet application, crypto credit card or invoking API call) has value. XCARD platform requires each

user involved in such operation to hold 0,5% of the transaction value in MBM tokens. When the particular operation is

invoked, a preliminary check by the smart contract is performed, to confirm that membership requirement is met.

Otherwise, XCARD rejects the query. Above mentioned membership requirement applies among others to:

· All currency conversions;

· Loans and pay-later transactions;

· Topping up third-party payment card;

· API calls;

· Auctions on collectibles;

· Recurring payments and transactions; There are few situations when specific operations carry additional cost when performed. In such cases, the MBM Token

becomes a way of bearing that cost by the user. These operations may include conversions between assets with low

liquidity or high volatility due to the market conditions, a loan interest rate, etc. If an additional fee applies, the user is presented with the cost details before committing to the service, ensuring the

highest level of transparency. This information is displayed to the user during the time of transaction preparation. It may

include the cost of the transaction, the conversion rate of MBM tokens, and the cost of tokens needed to complete the

transaction. If users do not have enough MBM tokens when starting a transaction, the necessary amount of MBM tokens may be

converted from the selected user's default wallet. They are automatically reserved for you as part of the transaction. The value of fee and access requirements are defined based on public market data.

Foundation API is open source and may be accessed by third parties (brokers, exchanges, developers). The access to it

costs 0,01% of the transaction paid in MBM for each single API CALL.

XCARD’S TOKEN SALE

25XCARD

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05

TOKEN DISTRIBUTION

TOTAL TOKEN

SUPPLY 640 mln MBM

FUNDS TO BE

RAISED

ROLE OF TOKEN: ”UTILITY”

$5 mln

We believe that soon there will be the mass adoption of cryptocurrencies worldwide. We want to prepare ourselves with

a perfectly working solution that enables people to perform any financial and cryptocurrency transaction in real-time,

with no limits.

XCARD’S TOKEN SALE

Strategic Reserve – 25%

Partnerships – 19%

Liquidity Pool - 17%,

Marketing – 12%

Team - 15.25%

Launchpad Sale - 9%

Bounty 2.75%

MBM tokens

Liquidity & Collateral - 50%Business

Development - 13%

Marketing - 12%

Product development - 10%

Salaries - 10%Licenses & Legal - 5%

XCARDTM

USE OF PROCEEDS

26XCARD

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05MAJOR EXPENDITURES

MARKETING AND

CUSTOMER ACQUISITION

ROADSHOWS

EXPOS & CONFERENCESSOCIAL MEDIA & INFLUENCERS

BOUNTIES

R&D AND PRODUCT

DEVELOPMENT

GLOBAL FIAT INSTANT WIRES

TRANSFER SYSTEM

CONVENIENT BUY / SELL / EXCHANGE

CRYPTO TO FIAT & ALT TO ALT

LOAN PLATFORM

PAY LATER SERVICE

CARD ISSUANCE &

MANAGEMENT SYSTEM

BUSINESS COSTS

TOP BUSINESS

PARTNERSHIPS

LICENSES (EMI, DLT, WALLET,

E XCHANGE, VISA PRINCipal

M embership)ARCHITECTURE SETUP

COMPLIANCE

CRYPTO

(ICOs, EXCHANGES)

FIAT (CARDS SCHEMES, BANKS

A ND OTHER FINANCE INSTITUTIONS)

eCOMMERCE & RETAIL MERCHANTS

XCARD’S TOKEN SALE

MARKET PRICE DEFINITIONS

The XCARD platform aggregates the information about the ask and buy prices, and depth of the markets of traded

cryptos (including MBM) from different sources (like price feeds providers, exchanges and brokers) using direct

APIs, instantly. Gathered data creates a virtual order book on the XCARD platform, so whenever a user wants to

top-up their payment card or get a loan, the XCARD app easily takes the best execution price from that virtual

order book. There are mathematical formulas (algorithms) to support the operation.

Each time the XCARD MBM liquidity pool receives a request to allocate a number of MBM tokens for the user, it

will check the best execution price of the token on the virtual liquidity pool in order to determine the fair market

price of the MBM token. There are automated internal algorithms, as well as specific mathematical formulas that

XCARD has developed to support the operations that determine the fair market price of the MBM token.

27www.xcard.io

05

contact@mobilum.com

Q4 2019 Q1 2020

Q1 2020 Q1 2020

ROADMAP

LIQUIDITY POOL

XCARDTM

XCARD’S TOKEN SALE

IEO: expected goal $5M equivalent.

Launch of the XCARD Wallet.

Q3 2019BETA of XCARD Wallet (Android & iOS) available for the first 5K users.

Integra�on with selected partners: VISA, Santander Bank, GateLab, Exchanges, PSP.

Decentralized internalizer with intelligent atomic swaps set up.

Not everyone gets a chance to buy MBM tokens during the token sale. For the future access and transaction fee tokens, XCARD acts as a primary merchant.

Those who do not have MBM tokens to transact on the XCARD platform will automatically obtain them as a part of the platform’s transaction fees. These tokens are allocated to the user f rom the XCARD MBM token liquidity pool using a fair market price.

Liquidity comes from the strategic reserve pool allocated to XCARD during the token sale.

06XCARD

COMPANY

XCARDTM

Powered by:

www.xcard.io

29XCARD

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www.xcard.io

06XCARD COMPANY

ABOUT XCARD COMPANY

Team

and currency trade systems.

FIND OUT MORE ON OUR WEBSITE:

We have more than 20 years of experience in integrating payment solutions and systems into the global financial world. In

the 1990's we brought SMS payments to vending machines, and in the 2000's we created one of the first electronic

wallets with MasterCard, which has grown our knowledge base to what we know of prepaid cards today. Recently we

have been implementing solutions (i.e. high-frequency trading platforms, internalizers) for exchanges, banks, stocks, and

forex brokers, payment processors and multilateral trading facilities.

30XCARD

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DISCLAIMERS

As of the date of publication of this Whitepaper, MBM Tokens have no known or potential future uses (other than on the

XCARD Platform which is to be developed) and cannot be sold or otherwise traded on third-party exchanges. This

Whitepaper does not constitute advice or a recommendation by XCARD, its officers, directors, managers, employees,

agents, advisors, consultants, or any other person to any recipient of this document on the merits of participating in the

Token Sale.

Participation in the Token Sale carries substantial risk and may involve special risks that could lead to a loss of all or a

substantial portion of your contribution. Further information about the risks of participating in the Token Sale is set out in

the contribution terms. Please ensure that you have read, understood and are prepared to accept the risks of participating

in the token sale before making a contribution.

MBM Tokens should not be acquired for speculative or investment purposes with the expectation of making a profit on

immediate resale. No promises of future performance or value are or will be made with respect to MBM Tokens, including

no promise of inherent value, no promise of continuing payments, and no guarantee that MBM Tokens will hold any

particular value. Unless prospective contributors fully understand and accept the nature of XCARD’s intended business and

the potential risks associated with the acquisition, storage and transfer of MBM Tokens, they should not participate in the

Token Sale.

MBM Tokens are not being structured or sold as securities. MBM Tokens hold no rights and confer no interests in the equity

of XCARD or any other entity. MBM Tokens are sold with an intended future use on XCARD’s platform and all proceeds

received during the Token Sale may be spent freely by XCARD on the development of its business and the underlying

technological infrastructure.

This Whitepaper is not a prospectus or disclosure document and is not an offer to sell, nor the solicitation of any offer to

buy any investment or financial instrument in any jurisdiction and should not be treated or relied upon as such.

This Whitepaper is for information purposes only and may be subject to change. XCARD cannot guarantee the accuracy of

the statements made or conclusions reached in this document. XCARD does not make and expressly disclaims all

representations and warranties (whether express or implied by statute or otherwise) whatsoever, including

but not limited to:

ź any representations or warranties relating to merchantability, fitness for a particular purpose, suitability, title or non-

infringement;

ź that the contents of this document are accurate and free from any errors; and

ź that such contents do not infringe any third party rights.

XCARD shall have no liability for damages (whether direct, indirect, consequential or any other kind of loss or damage)

arising out of the use, reference to or reliance on the contents of this document, even if advised of the possibility of such

damages.

This Whitepaper includes references to third party data and industry publications. XCARD believes that this industry data

is accurate and that its estimates and assumptions are reasonable; however, there are no assurances as to the accuracy or

completeness of this data. Third party sources generally state the information contained therein has been obtained from

sources believed to be reliable; however, there are no assurances as to the accuracy or completeness of included

SECURITY AUDITS AND CONSIDERATIONS

Management, processing and storage of user data at XCARD will be subject to GDPR-compliant policies. A data protection officer will be named as responsible authority for all data protection and privacy issues and first contact for user inquiries. Further information/documents about GDPR compliance of XCARD are available upon request.

LEGAL

31XCARD

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www.xcard.io

information. Although the data are believed to be reliable, XCARD has not independently verified any of the data from third

party sources referred to in this Whitepaper or ascertained the underlying assumptions relied upon by such sources.

No regulatory authority has examined or approved any of the information set out in this Whitepaper. No such action has or

will be taken under the laws, regulatory requirements or rules of any jurisdiction. The publication, distribution or

dissemination of this Whitepaper does not imply that applicable laws or regulatory requirements have been complied with.

The Token Sale and/or MBM Tokens could be impacted by regulatory action, including potential restrictions on the

ownership, use, or possession of such tokens. Regulators or other circumstances may demand that the mechanics of the

Token Sale and/or the functionality of MBM Tokens be altered, all or in part. XCARD may therefore revise mechanics to

comply with regulatory requirements or other governmental or business obligations. Nevertheless, XCARD believe they

are taking all commercially reasonable steps to ensure that its planned mechanics are proper and in compliance with

currently considered regulations.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This whitepaper contains forward-looking statements or information (collectively “forward-looking statements”) that

relate to XCARD’s current expectations and views of future events. In some cases, these forward-looking statements can be

identified by words or phrases such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “intend”, “plan”, “seek”, “believe”,

“potential”, “continue”, “is/are likely to” or the negative of these terms, or other similar expressions intended to identify

forward-looking statements. XCARD has based these forward-looking statements on its current expectations and

projections about future events and financial trends that it believes may affect its financial condition, results of operations,

business strategy, financial needs, the results of the Token Sale or the value or price stability of MBM Tokens.

All information here that is forward-looking is speculative in nature and may change in response to numerous outside

forces, including technological innovations, regulatory factors, and/or currency fluctuations, including but not limited to the

market value of cryptocurrencies.

In addition to statements relating to the matters set out here, this Whitepaper contains forward-looking statements

relating to XCARD’s proposed operating model. The model speaks to XCARD’s objectives only, and is not a forecast,

projection or prediction of future results of operations.

Forward-looking statements are based on certain assumptions and analysis made by XCARD in light of its experience and

perception of historical trends, current conditions and expected future developments with other factors it believes are

appropriate being subject to risks and uncertainties. Although the forward-looking statements contained in this

Whitepaper are based upon what XCARD believes are reasonable assumptions, there are risks, uncertainties, assumptions,

and other factors that could cause XCARD’s actual results, performance, achievements, and experience to differ materially

from its expectations expressed, implied, or perceived in forward-looking statements. Given such risks, prospective

contributors should not place undue reliance on these forward-looking statements. Risks and uncertainties include, but are

not limited to those identified in the contribution terms applicable to participation in the Token Sale. These are not a

definitive list of all risk factors associated with a making a contribution to

XCARD, in connection with its intended future operations. XCARD undertakes no obligation to update any forward-

looking statement to reflect events or circumstances after the date of this Whitepaper.

XCARDTM