TenX (PAY) the Cryptocurrency Wallet and Debit Card
TenX project aims to allow the users to spend virtual currencies in offline and online shops without having to convert them to fiat beforehand.
TenX consists of TenX wallet, TenX card and PAY token
The wallet is a multi-currency wallet which the user can then fund with different cryptocurrencies and then use them to buy things.
Users can choose to order a physical debit card, directly within the TenX App
PAY token is the token that is supposed to support the ecosystem
Tokens and usage
Users can hold, send, receive Bitcoin, Ethereum and Litecoin using the TenX wallet. TenX wallet is then connected to the card.
The TenX Card allows the users to spend the cryptocurrency. They can do that either online or in the normal everyday ‘offline’ shops. Additionaly users can withdraw card from ATMs. This means that you can store cryptocurrency in your wallet and simply buy things with it
Initially the PAY token supposed to generate dividents but this was change due to SEC statements the team stated that it is not guaranteed and they are currently reviewing the PAY usage.
This means that currently PAY token has no actual usage. This is different than the main competitor Monaco where there are actual use cases for MCO.
The team does regular Q&A s and transparency reports. Both are extremely useful and state everything about the project even including expenses and treasury.
The team did annouce they are not reviewing their Enterprise Ethereum Alliance (EEA) membership. They explained it’s because they want to focus on providing the product.
According to LinkedIn there are almost 90 employees working for the company which is a very significant number – one of the highest in the space.
The team is looking for almost 15 new employees and hired 16 in Q2 meaning they are still expanding.
The roadmap on the website is including these developments for 2018:
support for new cryptocurrencies
new card issuers
new wallet functions
PAY token restructure
The top priorities include:
getting the card out
use cases for PAY token
restructuring of the TenX Group
demonstration of the COMIT system can do
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