REQ Request Rank #542 $0.0501 ▼ 1.38%

Request (REQ) is a utility token that powers the Request Network, an open-source, Ethereum-based decentralized payment platform launched in 2017. The network is designed to let any user create, send, and settle payment requests directly with a counterparty, removing the need for traditional intermediaries such as payment processors. This peer-to-peer approach allows transactions to settle with reduced fees while supporting a wide range of global currencies. The REQ token functions as the core utility asset within the ecosystem, supporting the network's operation and stability. When a user issues a payment request, they specify the destination address, the amount, and any custom terms, optionally transforming a simple request into a formal invoice. The counterparty can then detect and fulfill the payment in a single action. Because payments are push-based rather than pull-based, users do not need to share sensitive account details. Every stage of a transaction is recorded on-chain, producing a transparent, auditable trail suitable for accounting and reconciliation. The project also incorporates compliance considerations to align with trade regulations in multiple jurisdictions. Request was co-founded by Christophe Lassuyt and Etienne Tatur, both previously involved with MONEYTIS. As part of the broader Ethereum and Polygon ecosystems, REQ serves as a payment-focused solution in the decentralized finance landscape.