TenX, the Singapore-based blockchain business, best known for being one of the first to conceptualize and enable the spending of popular cryptocurrencies on day-to-day items, today announced their plans to take the company forward into 2019. The project declaration comes after many signups ordered prepaid cards during the previous year and are still waiting on arrival, furthermore, this past month, TenX co-founder Julian Hosp parted from the company.
As a first step, TenX (PAY) has re-launched the TenX Card. “We are thrilled to once again, make TenX Cards available to everyone residing in Singapore. We will also open up applications to APAC-based travelers visiting Singapore, shortly,” said Toby Hoenisch, CEO, and Co-Founder at TenX. Cardholders will be able to make purchases at over 42 million VISA points of acceptance, globally.
Outside of being able to make everyday payments, cardholders can also withdraw money from supported ATMs around the world, provided their TenX Wallet is topped up. The team says that the TenX Wallet has seen a 67% YoY increase in users.
“The ease with which the cards work is outstanding. Whether I’m buying a burger in Germany or Laksa in Singapore, it’s incredible that I now have the TenX card as an additional payment option. It’s particularly useful when I travel. I don’t need to think twice about exchange rates,” said TenX cardholder, Matt Bronowski, one of the first users to receive the new card.
TenX users will have full control over their cards and can lock or unlock them at their own will, in addition to receiving real-time notifications when the card is used. As a next step, TenX is looking to use their financial license to make cryptocurrencies accessible to a wide audience.
“We are looking into launching more products that enable the transparent use of cryptocurrencies as financial instruments, along with fiat in and out options for people who are not yet familiar with crypto. The aim is to make almost any asset spendable with the TenX Card, for example, even gold,” said Hoenisch. “We want these products to be familiar — products that people can use in their everyday life.”
Later in the year, TenX reported that it will look into further expansion through partnerships and will seek new asset listings leveraging their payment infrastructure, developed through 2018. Time will tell how TenX delivers, as signups become more impatient and indifferent.