Launched on 7 November 2022, Metal X is a decentralized exchange available in 140+ countries. It is the first exchange to implement a fully on-chain centralized limit order book (CLOB), executed through smart contracts on the XPR Network. The platform unifies core exchange infrastructure with a comprehensive suite of DeFi tools, including spot trading, limit orders, automated market making (AMM) with token swaps, lending, borrowing, liquidity pools, yield farming, payment streaming, a fiat on-ramp, gift cards, and a smart contract–based stablecoin treasury.

All functions operate gas-free with instant settlement on the XPR Network. Additional blockchain integrations are in development to expand multi-chain trading and DeFi interoperability.

Metal X supports a wide range of digital assets, including BTC, ETH, XPR, XMT, LOAN, METAL, DOGE, HBAR, LTC, XRP, and SOL. Trading, liquidity provision, and asset management are conducted directly on-chain through user-signed smart contract calls.

The platform features a native fiat on-ramp through Metal Pay, a regulated payments platform developed by Metallicus, a provider of blockchain infrastructure for financial institutions. Metal Pay enables seamless conversion from fiat to crypto directly within the Metal X exchange.

Metal X also introduces Metal Dollar (XMD), a smart contract-powered stablecoin index composed of a basket of regulated stablecoins, currently including USDC, USDP, and PYUSD. The index provides diversified stablecoin exposure and serves as the primary stablecoin trading pair on Metal X.

Users access the exchange via WebAuth Wallet, a non-custodial webauthn wallet supporting passkeys and biometric login. All actions—trading, lending, bridging, or staking—are signed and executed on-chain through user-controlled cryptographic keys.

Metal X supports cross-chain asset bridging from over 10 networks, including Bitcoin, Ethereum, Hedera, XRP Ledger, Dogecoin, Cardano, Solana, Stellar, and Litecoin, enabling asset movement into the XPR Network for trading and DeFi participation.

In addition to serving individual users, Metal X provides a framework for financial institutions to build custom DeFi platforms for their members—leveraging fully on-chain infrastructure, smart contract automation, and existing integration with core banking systems.