Key Takeaways
- Request Network (REQ) is a decentralized network that facilitates payments and requests between individuals and businesses.
- The project allows anyone to request and receive payments securely without needing third-party processors.
- It uses smart contracts on Ethereum, other EVM chains such as Base, Arbitrum and Polygon, and Tron to automate the process.
What Is Request Network (REQ)?
Request Network (REQ) is a decentralized network built on blockchain technology that facilitates payment requests, invoicing, and auditing. The project aims to disrupt traditional accounting and financial systems by providing a transparent and efficient transaction management platform.
Request Network has kept its name, but its website now aims it at payment orchestrators and payment service providers (PSPs) that want to handle stablecoin payments. Businesses use its API, dashboard and hosted Secure Payment pages to collect payments and send payouts, with wallet screening built in, on Ethereum, Arbitrum, Optimism, Base, Polygon, BNB Chain and Tron. Request Finance is a separate company that built its product on the protocol.
How Does Request Network (REQ) Work?
Request Network (REQ) is a decentralized payment system that started on Ethereum and now supports several EVM chains and Tron, allowing users to request and receive payments globally. Here’s a breakdown of how it works:
Making A Request
One party initiates a request, specifying the recipient’s crypto wallet address and the cryptocurrency required. Optionally, invoices with detailed terms and conditions can be created.
Processing The Request
The request is broadcast on the Request Network and reaches the recipient. The recipient reviews the request and, if approved, makes the payment.
Recording The Transaction
Each request is stored on IPFS, and its content ID is recorded in a smart contract on Gnosis Chain. When the payer pays, the payment contract logs a payment reference on the chain used, and apps add up those payments to see whether the request is settled. These records serve as a permanent and verifiable receipt for both parties.
Request Network (REQ) Token And Tokenomics
Tokenomics
The REQ token is the native token that powers the Request Network. It has two uses:
- Burning: some REQ is burned each time a request is stored on-chain, which ties the token to network use
- Governance over the protocol and the foundation that stewards it
Token Details
Total Supply about 999.4 million REQ (1 billion at launch, with no new issuance)
Circulating Supply about 796.7 million REQ
Price (early October 2026) about $0.054
Market Capitalization (early October 2026) about $42.8 million
Price, market capitalization and supply figures are from CoinGecko as of October 7, 2026, and change constantly.
Distribution
The full supply of 1 billion REQ was distributed at genesis, and none of it is still vesting. The 2017 token sale raised about 100,000 ETH. Request Network gives this allocation:
- Public token sale (ICO), 2017: 49.97%
- Early contributors: 20.01%
- Team and advisors: 18.01%
- Foundation (ecosystem and development): 12.01%
Additional Details
The Request Network utilizes a burn mechanism, where a small transaction fee is burned, effectively reducing the total supply over time. There have also been instances of REQ token distribution through airdrops to incentivize participation within the ecosystem.
Where Can I Buy Request Network (REQ)?
Binance – Binance is a major exchange offering a wide range of cryptocurrencies. It offers multiple ways to buy crypto, including credit cards, debit cards, and peer-to-peer (P2P) trading.
Coinbase – Coinbase is an American-based cryptocurrency exchange that allows you to buy cryptocurrencies using various payment methods, including bank transfers, debit cards, and wire transfers.
BingX – BingX no longer lists REQ for spot trading; its REQ-USDT pair went offline in August 2025. Request Network’s REQ token page lists the exchanges and brokers that currently carry REQ.
Is Request Network (REQ) A Good Investment?
Pros
- Privacy – Users don’t need to share bank details with anyone. Transactions are private because user bank details are not involved.
- Low Fees: The network aims to offer lower transaction fees compared to traditional payment processors, making it potentially efficient for high-volume payments. Its pricing starts at a flat 0.9% per transaction, with no setup or monthly fees (October 2026).
- Global Reach: Request Network functions worldwide without limitations or geographical restrictions.
Cons
- Competition – The decentralized payment sector is crowded with established players and new projects vying for adoption.
- Limited Adoption – While Request Network has a working product, it hasn’t yet achieved widespread adoption compared to mainstream payment solutions. Request Network says more than $2 billion has been settled wallet-to-wallet through the protocol since 2017.
- Dependence On Blockchain Networks – Request Network now works on several EVM chains and Tron, so it no longer relies on Ethereum alone, but it still inherits each chain’s fees and congestion. Cross-chain payments are bridged and are not instant.
Is Request Network Worth the Risk?
Overall, Request Network (REQ) presents an intriguing proposition for the future of payments. Investors considering REQ should carefully weigh the potential benefits against the existing challenges before making an investment decision.
