​The XOV project started in February 2018 with a team of passionate individuals who wanted to revolutionise the banking industry by using the power of blockchain technology, and to create the world's most stable digital currency. You cannot create a decentralised bank without a stable currency. Those individuals are still part of the project today, and joined by a team of professional advisors to lead the project forward.

​The CEO created a high level concept and presented his ideas to Emin Gun Sirer, a blockchain Professor, at a London hotel, who provided some encouragement to take the project further.