How to Send Money with UMA (Universal Money Address)?

Cryptocurrency

May 16, 2024

Written by Xapo Bank

Sending money abroad can still entail slow processing time, high fees, and unfavourable exchange rates. UMA, or Universal Money Address, comes in to address these challenges specifically. In this article, we’ll discover how to send money with UMA using your Bitcoin balance in the Xapo Bank app.
What is UMA featured image

Share this article

Cross-border payments remain complex even today. Despite how interconnected the world is, it still isn't enough to make payments efficient and affordable. Indeed, sending money abroad can still entail slow processing time, high fees, and unfavourable exchange rates. UMA, or Universal Money Address, specifically addresses these challenges.

A UMA enables you to send traditional currencies and cryptocurrencies to local wallets securely, almost instantly, and at a very low cost. In this article, we’ll discover how to send money with UMA using your Bitcoin balance in the Xapo Bank app.

What is UMA (Universal Money Address)?

Before understanding how to send money with UMA, let’s cover the basics and dive deeper into the UMA network.UMA is short for Universal Money Address. It’s one unique address that links traditional currency and cryptocurrency on the Xapo Bank app. UMAs are email-like addresses that can replace long and unfriendly bank account numbers and crypto addresses. They are easy to share, easy to read, and easy to use.

How does the UMA network work?

Xapo Bank is one of the founding members of the UMA network. Our members can use it to send traditional currencies to local wallets. For example, Ripio (also part of the UMA network) supports Argentine Pesos through UMA.

How to send money with UMA on the Xapo Bank app

  1. Open up your Xapo Bank app

  2. Tap Send on the Wallet tab

  3. Select UMA address

  4. Enter the recipient’s UMA address

  5. Specify the amount of Bitcoin you would like to send and tap Continue

  6. Review the transaction details. In this screen, you will be able to see what currency the recipient will receive, the amount, and a breakdown of the fees and exchange rates applied.

  7. Click Confirm to execute the transfer.

Start experiencing the future of cross-border payments with UMA on the Xapo Bank app. Say goodbye to slow processing times, hefty fees, and unfavourable exchange rates. Embrace convenience, security, and affordability today.

Disclaimer

This article is for general information purposes only and is not intended to constitute legal or other professional advice or a recommendation of any kind whatsoever and should not be relied upon or treated as a substitute for specific advice relevant to particular circumstances. We make no warranties, representations or undertakings about any of the content of this article (including, without limitation, as to the quality, accuracy, completeness or fitness for any particular purpose of such content), or any content of any other material referred to or accessed by hyperlinks through this article. We make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up-to-date.

Share this article

tanding woman engaging with the Xapo Bank app on her mobile phone, overlaid with an orange hue.
Apply now
Join
Xapo Bank
Become a member
Ready to upgrade your finances?

The Xapo
Insider

Catch up on the latest crypto news, and get the inside scoop on our products and services.

Explore The Xapo Insider
The economics of Bitcoin liquidity: Why the sovereign borrow against Bitcoin instead of selling
Loans
Article - Mar 26, 2026

The economics of Bitcoin liquidity: Why the sovereign borrow against Bitcoin instead of selling

Read Article
The great energy displacement: Why Bitcoin mining is the backbone of the AI revolution
Bitcoin
Article - Mar 18, 2026

The great energy displacement: Why Bitcoin mining is the backbone of the AI revolution

Read Article
When half the world owns Bitcoin, wealth will look nothing like it does today
Bitcoin
Article - Mar 10, 2026

When half the world owns Bitcoin, wealth will look nothing like it does today

Read Article
Bitcoin market update February 2026: Institutional analysis and Xapo News
Bitcoin
Article - Mar 01, 2026

Bitcoin market update February 2026: Institutional analysis and Xapo News

Read Article
The smartest way to accumulate more Bitcoin: 7 benefits of active wealth management
Bitcoin
Article - Feb 25, 2026

The smartest way to accumulate more Bitcoin: 7 benefits of active wealth management

Read Article
Why gold’s surge is a telegraphed signal for Bitcoin holders as prices dip
Bitcoin
Article - Feb 17, 2026

Why gold’s surge is a telegraphed signal for Bitcoin holders as prices dip

Read Article