TenX, a Singapore-based startup has developed a Visa card that allows holders actually use their bitcoins or cryptocurrencies in everyday real transactions seamlessly. It says its debit card can instantly convert multiple digital currencies into fiat money (dollars, euros, etc.)
Tenx Card
The company is reported to take about 2% cut from each transaction. (Credit: TenX)


Technology Highlights

  • TenX has developed an app that serves as a digital wallet connected to the Visa card so that when it’s swiped at a cafe or restaurant, the merchant is paid in local currency and the users’ crypto-account is debited immediately.
  • The TenX platform builds on the COMIT network – the Cryptographically-secure Off-chain Multi-asset Instant Transaction (COMIT) network.  COMIT is a protocol where every blockchain is connected. It is an off-chain transaction protocol that allows the blockchain ecosystem to scale even further and be more inclusive. It allows decentralized real-time instant cross-blockchain assets transactions. With this, TenX is able to supports multiple digital currencies, including the lesser-known cryptos like dash and augur.

The TenX wallet and the TenX card have been tested by well-known figures in the industry with payments in 50 countries across the world. As can be seen on their site, they enjoy the support of various industry leaders like PayPal. The company used an initial coin offerings (ICO) to raise $80 million and had previously raised $120,000 from angel investors and $1 million in a seed round led by venture capital firm Fenbushi Capital.

TenX has an advantage in moving early in this space and have the vision to some day be able to switch cryptocurrencies within the app. See a video of a TenX enabled purchase at McDonalds . . .

Links: TenX

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