Multi-currency card Bonpay collects $6m in token sale

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fintech insurtech wealthtech regtech ai cybertech esg news

Bonpay, a multi-currency debit card provider, has already raised more-than $6m through its ongoing public token sale.

The startup launched the token sale on October 31, but has already collected 20,177 ETH, surpassing its 15,000 ETH hard cap.

London-based Bonpay offers clients a cryptocurrency wallet and card that can be used worldwide. Verified users can order one plastic and one virtual Bonpay prepaid debit (in the future credit) cards for each currency within their account. After that the user can load their Bonpay Cards from the wallet and choose between various blockchain assets (BTC, ETH, ERC20, etc.) to make payments.

The CEO of Bonpay, Alex Blazhevych, said, “Our team was fascinated by the idea of cryptocurrency, but the problem was how to connect crypto and the real world. We want people to be sure that they can spend their cryptocurrency funds freely, so we decided to create Bonpay, which allows users to spend digital currency everywhere by instant and seamless conversion to fiat money, without any hidden fees.

“We know that our project offers a great solution for crypto users, but we didn’t expect that it will resonate so strongly with the community. Our team is grateful for the support, and we promise that we will never stop improving Bonpay, ensuring the best service for cryptocurrency use.”

It plans to use the new funds to improve the existing product and add key features to make the service even more convenient. The company also plans to launch a mobile app, available both on Android and iOS, to allow users to manage their funds from their phones.

Bonpay cards are currently only available for EU residents, the company is negotiating with leading card-issuing companies and exchanges in Asia, Africa, South America, Canada, Australia, and CIS countries.

The token sale will continue until November, 28, with the first milestone set at 50,000 ETH.

In the first three quarters of the year,  more than $732m has been invested in the global cryptocurrencies market according to data by FinTech Global. 

Copyright © 2017 FinTech Global

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