ScopeX Money is seeking Canton Featured App status for a service that would let people choose an exchange rate for a transfer to India, then leave the payment to execute when that rate is reached.
The product, Scopex Rate Lock, is aimed at Indians living abroad who regularly send money home. Its Featured App application sets out a process in which the sender locks funds against a target rate. Once the conditions are met, settlement takes place on Canton and an instruction triggers payment into the recipient’s bank account.
The recipient would receive local currency without needing a Canton wallet. Senders could cancel a pending order and reclaim their funds, while an order that expires would return the locked money.
The Canton implementation is being tested on TestNet, with the initial rollout planned for transfers from euros to Indian rupees. ScopeX intends to offer the feature to existing customers before expanding to further currency routes.
The application requests an exception to the usual 14-day MainNet requirement. ScopeX plans to launch the service regardless of the Featured App decision, with potential rewards supporting user incentives, liquidity and expansion.
