MinePlex raises $100m for its new mobile bank

MinePlex raises $100m for its new mobile bank

MinePlex, which claims to be a new-generation mobile bank, has raised $100m in funding.

Bahamas-based digital asset investment firm GEM Digital Limited supplied the capital.

This capital injection will be used to advance the global penetration of the MinePlex exosystem and develop new banking technologies.

It claims that soon millions of users will be able to make fast and safe digital transactions through bank cards, mobile applications and cryptocurrencies.

In conjunction with the funding round, MinePlex will list its native PLEX token on new exchanges. It will also boost marketing efforts, increase the development of B2B and B2G opportunities and promote partnerships with financial institutions.

In April, the company launched a CrossFi service called MinePlex.Finance. The aim of this solution is to bridge digital assets and fiat currencies. The app lets users complete transfers, store digital assets and spend funds.

The company intends to start CrossFi acquiring through collaboration with MasterCard and Visa cards later this year. This will enable it to accept USDT, BTC, ETH and TRON tokens.

MinePlex co-founder and CEO Aleksandr Mamasidikov said, “This cooperation opens a new chapter in the development of MinePlex and shows that we are progressing towards our intended goal: to contribute to solving the problem of financial isolation of millions of people globally by utilising the capabilities of the CrossFi technology we have developed.

“This investment commitment will accelerate the scaling of the MinePlex ecosystem and the development of new-generation financial instruments based on our own blockchain. We are really proud to work with GEM.”

The company hopes to receive a banking licence and principal membership with the MasterCard International payment system.

GEM Digital recently invested into Xion Finance. The company is removing the manual processes involved with investing into initial DEX offerings. A DEX is where a token is distributed via a decentralised liquidity marketplace.

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