Intro and Recap :
TenX was founded in 2015 by three cryptocurrency enthusiasts, Toby Hoenisch, Paul Kittiwonsunthorn, and Dr Julian Hosp. Their goal was to make cryptocurrencies usable.
They received a few small rounds and funding and went through the Paypal incubator for ¾ of a year and then received 80 million USD in cryptocurrency equivalents from their token sale in June 2017.
They are sticking to their goal of making cryptocurrency spendable anytime and anywhere across the world.
Who is their target audience?
Investors of cryptocurrency and regular daily users (those that don’t trust their local fiat currency).
What is their ongoing plan?
In this stage of their plan they are looking to close out this year and starting next year they will be working on a new feature, where the user will be able to deposit their fiat currencies (USD, EUR, GBP, etc.) and convert it into his/her account with the option to get cryptocurrencies, with one click.
To make it as simple as possible for people to be a part of space and transact as quickly as possible.
After this is rolled out, in the middle of the next year they plan on making cryptocurrencies more stable. They plan on doing this by implementing hatching mechanisms which would minimize cryptocurrency fluctuations. They have partnered with corporations like Mastercard and Visa’s issuing partners in Singapore and Europe and are seeking to partner with other companies as well.
They are also planning to get a banking license in Europe and planning for long term viability with a goal having one million users by the end of 2018.
What have they done so far
The TenX wallet and the TenX card allow you to convert and spend your virtual currencies in real life. The TenX card ( a prepaid card which is denominated in fiat currency (USD, GBP, EUR) exchanges virtual currency for fiat currency. These Tenx products have been tested globally and proven by popular and credible people in the crypto space. It is available now on IOS, Android and the web.
What do they support?
What’s new with TenX?
Product updates will happen every two weeks, so what’s the latest news?
- They are focused on getting cards out to their customers in the EU as this is the current product and is the present need of their customers that need to be met.
- They are creating about 100-200 cards per day and sending out them out as fast as possible.
TenX is seeking to clear out the waitlist by the end of this year but it may spill over into next year due to the fact that the aspects of the process from production and shipment may take some time due to variables like remote locations which may be harder to reach than others.
- Many are to receive their cards by the end of November and throughout December. So, if you’re in Europe and you’re on the waitlist, the card will be on it’s way.
- By the way, Julian has stated that the token rewards are here to stay and have locked in a global supplier (Wirecard) for cards, still to be announced officially by the TenX team but it’s been mentioned by Wirecard!
- On the technology side, they are focused on improving the UX across their IOS and android platforms for better user flows so users can process transactions better.
Exciting times all around.
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