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TenX card to debit bitcoin for real-life payments

Tinuku ~ TenX offers Visa cards for bitcoin and other cryptocurrencies users. Startups headquartered in Singapore designed a crypto currency payment scheme into everyday life for everyone in any place by converting it into traditional currency. The TenX Card serves as instant debit and instant converter of several digital currencies into cash currency in dollars, yen, euro and others.

Tinuku TenX card to debit bitcoin for real-life payments

Startup in Singapore designed a brilliant idea with a debit card service to convert digital currency into traditional currency for offline payments. TenX will take 2 percent fee for each transaction and currently has orders of more than 10,000 cards.

TenX has also built an application as a mobile wallet connected to the card. When a card is swiped at any place, merchants are paid in local currency and the crypto currency account of the user is debited automatically.

TenX has also built an application as a mobile wallet connected to the card. When a card is swiped at any place, merchants are paid in local currency and the crypto currency account of the user is debited automatically.

"You are mixing the two worlds online and offline. If the user spends crypto, we should immediately divert this currency and pay directly. This is a lot of lanes," said TenX co-founder Julian Hosp.

The TenX Card currently supports eight local currencies and processes around US$100,000 in monthly transactions. By the end of 2018, they are targeting one million users and US$10 million in monthly transactions. TenX's efforts to make digital currency can be done easily. Many startups are blockchain based and utilize initial coin offerings (ICO).

Hosp said token sales last month, TenX collected US$80 million with about half of it used to expand operations and the rest for liquidity. The company had previously raised US$120,000 by venture investors and US$1 million by Fenbushi Capital, Ethereal and Vitalik Buterin.

"One thing we want to offer in the end is you can replace cryptococcus in the app. If we do this, we can be a market maker to bring in a lot of revenue," Hosp said.


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