Based in Singapore, TenX was started in order to bridge the gap between cryptocurrencies and the every day user. At the moment it’s difficult to use cryptocurrencies in the real world, such as paying for goods at a store. Because they’re so new, most people don’t even know what a cryptocurrency is, and the vast majority of stores have not and will not for some time integrate cryptocurrency acceptance systems.
TenX already has a working prototype in the form of a mobile wallet and card. Users fund their wallet with cryptocurrencies, then use the payment card on any normal card accepting machine or ATM.
Stores receive the payment in local fiat currency which is great because stores don’t need to do anything extra in order to receive the payment! They probably wouldn’t even know cryptocurrency had been used to buy the goods!
It works by utilising the COMIT network, an ingenious technology which connects every blockchain to one another, allowing different cryptocurrencies to be managed and spent from the same place. The COMIT network brings cryptocurrency use closer to the every day, and allows the blockchain ecosystem to scale even faster.
At the moment, the system supports Bitcoin, Ethereum, Dash and all altcoins developed on the Ethereum ERC20 platform. They are planning to support more in the near future.
TenX token is called PAY and is available to buy on all the major exchanges such as Bittrex, and in order to buy the card and use TenX, you must first download the app and order from there. The card costs $15 and there are small fees to pay which you can see here
Read more about TenX here!
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