This Singapore blockchain startup wants to replace banks; has raised over US$15M in ICO to do so
October 13, 2017 by admin

Change Wallet

Cryptocurrency, once an esoteric tech alien to everyone but the cypherpunks (aka crypto enthusiasts), is far entering into mainstream consciousness.

Leading financial institutions are investing in it, and mom-and-pop consumers can now buy bitcoin from kiosks at shopping malls.

It stands to reason that cryptocurrency, and the blockchain tech that powers the whole ecosystem, have the ability to disrupt the modus operandi of many sectors and institutions.

One Singapore startup, Change, believes that the acceleration of blockchain will make banks obsolete — and it wants to lead the charge. Change wants to be the “Paypal of cryptocurrency”, meaning that in the future, consumers should be able to buy plane tickets or purchase coffee using cryptocurrency.

To accomplish this goal, it has launched an ICO campaign, which will end on October 16. To date, it has raised over US$15 million.

The Change team — consisting of primarily European entrepreneurs — is helmed by Kristjan Kangro, who is the former CFO of Southeast Asia-based VC Expara. Other members of the team include CTO Edgars Simanovski, and Artur , who is a partner at the company. Luhaäär is also the CEO and Co-founder of Singapore-based robo advisory platform Smartly,

“We’ve been overwhelmed by the response and interest in a truly transparent and crypto banking platform here in Asia. This is a clear message that there is an enormous appetite for a fintech player like Change Bank to help consumers bridge the gap between cryptocurrencies like bitcoin and Ether, and conventional currencies like US dollars and Euros,” said Kangro.

Read more on e27.


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