TenX, a Singaporean based company supported by PayPal, focused on making any blockchain asset instantly spendable, has officially announced their initial token sale for the end of this June.
TenX is most known for its debit card offering empowering users with the ability to spend their crypto-assets anywhere in the world online and offline without any forex or transaction fees.
Especially noteworthy is their backend, which is based on the open source cryptographically secure, off-chain and multi-asset instant transaction network called COMIT that allows for any new blockchain to be connected in a decentralized manner.
In March 2017 TenX already raised a 1 million USD round from famous investors such as Fenbushi Capital with Bo Shen and Vitalik Buterin.
Now TenX is aiming to sell 20,000,000 of PAY tokens for an equivalent of 100,000 ETH in a public token sale. The funds will be used to offer TenX on Android, web app, and iOS and to also to fully integrate COMIT into the service together with additional research projects.
The company’s vision is to make any crypto asset as liquid as a 10 dollar bill in your pocket by offering the most technologically convenient way possible.