TenX is a Singapore based company that render debit card services to cryptocurrency holders. The sole aim of this project is to foster the global adoption of cryptocurrencies and increase the utility of cryptocurrencies generally.
Initially, TenX used to be known as OneBit but that brand name had a limit on it, in that it passively conveys the message that it only provides services for the Bitcoin holders and that no other blockchain project can benefit. But as the company seeks to bring its service to a broader scale and involve more cryptos, it rebranded and now it is known as TenX.
This was announced on CryptoNinjas on the 27th of March, 2017 and the reason was clearly stated here just to avert any rumours regarding the company rebranding as a result of financial and management issues. That is not true, but the reason was clearly stated here;
The Singaporean multi-asset blockchain wallet company OneBit has officially announced a rebranding to TenX. We have seen a couple of companies in the last few months remove the word “bit” from their brands in order to pass the message across to us that their services are involved with providing multi-asset cryptocurrency solutions and not just Bitcoin which the word “bit” is obviously associated with. Source
As OneBit rebrands to become TenX, the scope of the project will definitely be broadened and more services will be integrated. Such services include:
- Liquidity – TenX LPs (Liquidity Providers) provide liquidity for BTC, ETHER, various ERC20 tokens and future cryptocurrencies. This will play the role of market makers for the COMIT network (I will be talking about the COMIT network if time permits me in a future post) and token holders get a percentage share of revenues generated.
- Cross-Chain Wallet – With this, you can literally spend blockchain assets or cryptocurrencies with the aid of a debit card at retail stores around the world or online with the aid of a virtual card.
It is now apparent that the project is open to major blockchain projects and currencies at the same time and this is carried out in a seamless manner. Cryptocurrency owners in general and not just Bitcoin holders can now spend their tokens directly in such a way that they don’t have to depend on fiat conversions and massive charges as they convert one crypto to the other before it finally turns into fiat. However, we hope to see TenX integrate more altcoins to their wallet apps on both android and apple mobile devices. And here’s what they had to say about this;
We at OneBit but now TenX were thinking, why should we only grow “one bit” at a time and not exponentially by integrating more cryptocurrencies. Therefore we decided to rebrand the entire company to TenX – because we will 10x our growth over the next years! And that’s how this new vision was born – out of this single thought.
In the next days (now over a year ago), we will provide more exciting updates and improvements on the integration of more cryptocurrency assets into our wallet applications on both android and apple mobile devices and further awe-mazing announcements.
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TenX is without doubt innovational, and surely a project that all cryptocurrency enthusiasts would like to be a part of. I will give my candid opinion, not as a financial advisor but a crypto enthusiast that takes advantage of any worthy blockchain innovation, that it’s going to be in our best interest to promote TenX and get their cards once they become available for distribution since it seeks to improve the utility of cryptocurrencies in general. Watch my video on how to register the app here after downloading (download link is below the concluding paragraph);
Thank you for reading this blog and watching that video friends; your time spent here is truly appreciated. I am Bait and I am bringing words from the Offline Minnow School.