Change is a new company which aims to be a Crypto bank and will be offering financial services built on the blockchain, including a current account, a Mastercard bank card and also a marketplace which will allow users to invest into stocks, P2P loans, real-estate or other investments directly from the Change mobile app.
Change is based in Singapore and was founded in march 2016 and went on to receive a $200,000 angel investment in June 2016. They have an upcoming ICO which starts on September 16th 2017 12pm GMT.
In their introductory blog post, they outline their plan to bring together a host of banking services under one umbrella:
Change offers its customers a card and access to a marketplace of Fintech’s. Put simply, sign up in Urugay, receive your card at home in Italy, buy a beer in Thailand with Ethereum and invest into a personalized automated stock portfolio in Singapore.
Their API aims to bring together these different banking products and bridge the gap between the Crypto world and real world banking.
Change have partnered with the innovative Estonia E-Residency program, which makes it easy for people outside the country to register for a digital residency in Estonia which opens up the ability to register a company there and access the government’s online services.
Whitepaper
The team’s whitepaper is embedded here for you to read though.
The Team
Change is made up of a consortium of 3 partners from fintech companies based in Singapore.
- Kristjan Kangro – CEO at Change
- ARTUR LUHAÄÄR – CEO at Smartly / Partner at Change
- GUSTAV LIBLIK – CEO at First Meta / Partner at Change
- EDGARS SIMANOVSKIS – CTO at Change / Blockchain developer
- NAKUL PANT – CTO at Smartly
- HENRY KEHLMANN – Blockchain developer
- DRAGOS GIUGULA – Blockchain expert
- KARL VÄÄN – CEO at BitOfProperty / Partner at Change
- KENNETH LOH – Administrative
- FRANCISCO BERNARDO – Marketing
ICO Details
The sale starts on September 16th 12pm GMT and Change are raising a total of 250,000 Ether. Investors can use Ether to enter the ICO. Minimum investment: 0.5 ETH. 125 million Change Coin will be issued, with an exchange rate of 1ETH=500CAG.
Early investors will be rewarded with discounts and exclusive access to a Change Maker status, and a premium Change Black card. The first 500 investors will receive a discount of 30%, with other pre-sale discounts to be announced.
Conclusion
This seems like a very promising product with real-world use potential, these days people are losing faith in the traditional banking system with shady business going on and various governmental bailouts occurring around the world. A bank which allows you to move your crypto currency into more traditional investments such as stocks and real estate and manage them all from one app sounds very interesting.
Another thing I like about this company is the bank card which will allow you to spend Cryptcurrency anywhere that accepts Mastercard, we have seen there is a great demand for this with Tenx. The Change card will allow you to withdraw cash or pay merchants in fiat from your Crypt balance with the app calculating the exhange reates in real time which you can view within the app on your phone.
