This Kickstarter for a bank raised 10M USD in 24 hours
SINGAPORE, Sept. 15, 2017 /PRNewswire/ -- While Kickstarter campaigns have become widely known within the masses, then an increasing trend for start-ups to raise money for more sophisticated platforms/apps has become an initial token sale. The crypto-currency start-up Change recently raised more than 10 million USD via a crypto-currency crowd-sale, also known as an initial token sale. The company has set out to build a new age bank, that they describe as more of an "app store for financial services".
An initial token sale essentially means that a start-up creates their own crypto-currency, which can be used in their platform in numerous ways. They then sell all or part of these coins to the public to finance the development of the roadmap. The tokens then become tradable on popular crypto-currency exchanges. As a reference, previous financial service coin offerings have returned supporters 7,700% returns.
Change, for example, is building an application that allows the customer to spend crypto-currencies globally with a debit card, as well as access numerous other financial services via its marketplace.
"Essentially its an app store for financial services. There's hundreds of companies today offering a bank's individual service better, faster and cheaper. We are building the infrastructure that connects these services via a seamless app for the user." says Kristjan Kangro, CEO of Change.
Community-driven
The Change team has gathered a passionate community of over 14,000 backers. There is an active discussion around the clock between the team members and their community in a public Telegram chat-group with over 2,000 members from all around the globe.
"I see huge potential in a crypto bank, as crypto-currencies become more mainstream. I know its a risky investment but the team's transparency gives me confidence." says Chris, a Change community-member
Change started its token pre-sale on Saturday, September 9th, and within 24 hours had gathered over 10 million USD. Their main sale is starting on Saturday, September 16th, where their community of over 14,000 backers can take part with a minimum of 150 USD.
Strong support
When talking of backers, Roger Crook, the former CEO of DHL is a strong supporter and an early investor into the project. Being called the "bank of tomorrow" by Coin Telegraph, a leading crypto-currency publisher, the company's plan is to build a truly borderless bank.
To validate their concept even further, they've also partnered with the e-Residency project of the Government of Estonia. The e-Residency project allows people globally to get access to Estonia's advanced e-government services, as well as found and operate a company fully online.
"Change is building a similar universal digital infrastructure as Estonia did, but for financial services" says Kaspar Korjus, Managing Director of e-Residency
With over 14,000 people who have indicated interest, Change's initial token sale begins on September 16th, 3PM London time. More information can be found at www.change-bank.com.
For more information, please contact:
Oliver Budgen
+65 8402 1789
oliver@boldmedia.sg
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