Blockchain Firm Everex Raises $26M in ICO

Sep 2017
Global, September, 04 2017 - Everex, a Singapore-based financial inclusion blockchain development company, has raised over $26 million in its initial coin offering (ICO) which ended on August 31, 2017.

According to the official website, the startup secured BTC 1,580 and ETH 49,481 through the token sale. Everex had earlier raised US$500,000 in seed funding from Holley Group, a Chinese multinational manufacturing group. The investment marked Holley Group’s first investment in the fintech sector.

Founded in 2016, Everex had earlier said that it plans to use the amount raised to launch its micro-lending operation.

Last month, Everex entered into a partnership with Myanmar-based microlender MicroMoney. With this partnership, the startup expanded its access to MicroMoney’s over 450,000 unique customers and registered users.

Recognized for “Service Originality” by the remittance-focused RemTECH Awards at the United Nations headquarters in New York City, Everex aims to bring two billion un- and underbanked individuals under the global financial system, by allowing them to access affordable instant micro-credit and global fiat transaction services from mobile devices.

Everex’s suite of products includes a micro-lending capable digital cash framework, CryptoCash, which brings fiat currencies to life on Ethereum’s blockchain. The Everex Wallet is a multiple crypto-asset wallet for Ethereum-based tokens.

Source : Econotimes

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