BABB, a crypto banking app for managing tokens and fundraising, successfully held its beta launch event on February 12th. Nearly 200 supporters joined the BABB team to celebrate the milestone.
Features of v1.0 of the BABB beta platform:
- Open a BABB account.
- Store, manage and convert BTC, ETH and BAX tokens.
- Request and send P2P Payments from anywhere, to anywhere in the world for free.
- Connect your profile with friends and family.
- Create and donate to causes all over the world — getting more money to where it is needed most.
Upcoming features currently being worked on include: cash-in and cash-out functions, currently in development and testing. Continued product developments and improvements from the MVP, and UI/UX updates.
“People asked why we threw a party to celebrate the release of a Beta, the answer is simple. The BABB Platform is based around the concept of a global, connected community that will give people back control of their finances and not discriminate against their income level or where they live. We brought nearly 900 people together online and in-person to celebrate the occasion. ”
– Rushd Averroës, CEO and Founder, BABB
Problems the BABB Platform Solves
- Removing barriers for fundraisers – Fundraisers and donors across the world are subject to significant fees. What’s worse is that they are typically restricted to the domestic market only as overseas payment fees often reduce the final amount received significantly.
- Reduced operational overheads through technology – Financial inclusion can be made a reality by stacking existing technology with BABB’s technology layers which can be customized for local needs.
- Lowering barriers of entry to the Cryptocurrency ecosystem – For many, going to crypto exchanges is intimidating and too complicated. Through BABB, users will be able to top-up their wallets in real-time directly from their bank account, credit card or existing external wallet.
- Removing 3rd Parties – Each company introduced into any transaction process adds cost — through BABB, users are able to cut out the middleman completely and thus, the costs associated.
- Cross-border transaction costs – By using the BABB utility token (BAX), users are able to convert, send it across borders and withdraw on the other side — without the complication of interbank or FX fees.
“The launch party gave us the opportunity to extend to a userbase of 300 testers who are already providing valuable feedback on everything from user acceptance, bugs, and glitches to UI/UX improvements. I take pride in starting my career in South Africa and being part of a developing economy, including the related financial challenges faced daily by very diverse circumstances and people.”
– BABB Chief Technical Officer, Grant Van Wyk