Wagyu.xyz, a Reykjavik-based cross-chain swap and bridge platform, announced it has surpassed $700 million in cumulative trading volume since its launch in January 2026, seven months after its founding in December 2025. The platform, which supports native Monero (XMR) swaps routed to Hyperliquid’s onchain orderbook, reported median settlement times of 5.5 minutes and 90th-percentile times of 13.2 minutes, subject to a 20-confirmation requirement.
The company’s public API, launched alongside the milestone, enables developers to integrate asset discovery, exact-input and exact-output quoting, durable order creation, and order tracking via REST and WebSocket interfaces. Third parties can operate independent swap services on Wagyu.xyz’s infrastructure by applying their own margin, the company said.
Early-stage metrics from the platform’s first two weeks included approximately $10 million in user withdrawals, $200,000 in revenue, and more than $20 million in incremental trading volume directed to the Hyperliquid exchange. Wagyu.xyz was valued at $50 million in an early-stage financing round. Monero’s price traded above $600 following the platform’s launch.
Wagyu.xyz’s compliance architecture screens transactions prior to swap execution, returning deposits that fail screening to the originating address. The platform does not request KYC documentation and restricts assets only pursuant to a valid court order or equivalent instrument from a competent authority. Post-settlement review models in the segment typically flag 2% to 5% of transactions after the operator has taken custody, the company noted.
The platform’s founder, PerpetualCow, and director Einar Gunnarsson are based in Iceland. Wagyu.xyz lists Hyperliquid, HyperCore, Binance, OKX, Kraken, and LocalMonero among associated entities. Contact details include an email at contact@wagyu.xyz and a phone number +354 182 8471.
