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Ubank announced that it has secured an undisclosed amount of funding from Inventure Partners, a major investment fund specializing in cutting-edge tech projects
The mobile payments app Ubank received funding from Inventure Partners for the further development of Ubcoin Market, a blockchain ecosystem that would allow its users to become crypto investors simply by selling real goods and receiving cryptocurrency in exchange.
Inventure Partners is a VC firm that has already financed such startups as Gett, a global ride hailing service; Chronext, a luxury watch marketplace; Cityscoot, a French electric scooter-sharing app; and many other companies across the globe. “Ubank is a successful project with a great product that fits current market conditions. The Company is led by a talented and experienced team that managed to build a strong relationship with world-class brands like Samsung and Fly and proved that they are capable to rapidly grow customer base from scratch. The idea of exchanging real goods for cryptocurrency is something that is in the air and has all chances for a success. Ubcoin market should become a day-to-day tool to exchange goods for cryptocurrency and back. We wish good luck to the team and glad to support the project at this early, Pre-Sale, stage,” comments Sergey Azatyan, founder and managing partner at Inventure Partners, confirming the deal.
Ubcoin Market, a peer-to-peer ecosystem whose participants would be able to easily sell and buy real goods in exchange for cryptocurrency, will be integrated into Ubank, the leading mobile payments app in the Eastern Europe.
“We are thrilled to be one of the first ICO projects that was able to secure investments from such renowned fund as Inventure Partners. We were glad to find out that Inventure Partners team shares the same vision as we do – the sophisticated blockchain systems should be presented to users in a simple way and solve real problem. We are extremely grateful to Inventure Partners for their confidence — it gives us strength and motivation to move non-stop to achieving our now common goal!”, says Felix Khachatryan, founder and CEO at Ubank and Ubcoin Market.
Ubank was launched in 2013 and received an $8 million investment from Runa Capital fund. As of now, Ubank application has 2.5 million monthly active users, has been downloaded by more than 16 million users around the world, and it processes 20+ million transactions a year. The app has been pre-installed by Samsung and Fly on their smartphones.
About Ubcoin Market
Ubcoin Market is a blockchain project developing a smart ecosystem for easily investing and exiting cryptocurrency by buying and selling goods and services. Ubcoin Market was founded by the same team that founded Ubank, the leading mobile payments app in Eastern Europe that, as of today, has 2.5 million active users , more than 16 million downloads around the world, and has been pre-installed by Samsung and Fly. To learn more about the vision and the structure of the project visit its website and read is whitepaper.
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The ICOs of cryptocurrency exchanges have emerged as leaders in the blockchain world and until today, they keep soaring in leaps and bounds. Binance and Huobi have skyrocketed sales and highly successful tokens, which maintained the wellbeing of lucky contributors who were intuitive enough to seize the boosting trend on its earlier stages. However, ExpertOption could become the last chance for “wannabe” investors to dip their toes into the enticing world of crypto rush.
Global leading broker is introducing the first ever ecosystem designed for bridging traditional online trading with blockchain investments. The revolutionary project starts to unfold with the release of EO coin for trading on its award-winning platform, followed up by the EO.Finance crypto wallet that ensures effortless purchase, store and exchange of cryptocurrencies, and finally yet importantly the launch of EO.Trade crypto exchange.
This seamless combination of platforms fueled by one coin is set to address all the nasty issues of crypto trading. It also bounds to encourage more online investors to make the leap into the financial revolution of blockchain.
Ivan Opria, the CEO of ExpertOption, added:
“Crypto trading may be taking over the market but online trading still dominates with more than 5 trillion in daily turnover. We are designing an ecosystem which will make every online trader convert to crypto with no more than a few clicks and we will be there to help them make the jump”.
The fact does stand that the team under the hood of the ExpertOption project has successfully turned it into a multimillion platform within a short time, moreover it has managed to maintain ExpertOption’s status and performance over the years in a highly competitive and bumpy industry. It flows that the market is in for a major breakthrough when the same outstanding team releases this game-changing series of investment tools.
The second biggest open source blockchain, Ethereum, is going to underlie the new digital coin called EO Coin. According to the project’s roadmap, a billion of EO Coins will be produced and 70% of that amount will be allocated for sale. The company launched a private presale on the 31st of March, giving current ExpertOption clients a privileged opportunity to be the first investors in its upcoming crypto exchange.
Opria commented on the new EO Coin:
“Holders of the EO Coin will benefit in many ways on all the platforms we are developing. The EO coin will give every trader the power to get higher profit percentages on the ExpertOption platform. The coin also will provide special fee discounts on both EO.Finance and EO.Trade crypto exchange that will be developed by the company.”
Further project’s development will include the release of the EO.Finance, a crypto wallet designed to make crypto investments easy and instant even for investors who have never ventured into digital currencies. The wallet allows purchasing cryptos directly with a Visa or MasterCard making the process completely simple for beginners. Additionally the EO.Finance will be used to store purchased cryptos and use them for online transactions.
The market is also highly anticipating the EO.Trade crypto exchange, which the team will develop later on in the project. ExpertOption has announced it plans to build the exchange in-house and empower it to withstand present and future market demand. Currently crypto exchanges on the market have been failing to keep up with the increasing amount of users causing downtime, slow KYC processes and withdrawals as well as delays in orders.
Dmitry Nikitin, the head of ExpertOption’s Client Care said:
“Our team has built one successful company without any help from third parties. We handle millions of clients on a daily basis. It also has been prepared and trained for the next move and are ready to expand at a moment’s notice”.
As one of the first brokers to offer online crypto trading on more than 20 digital currencies including bitcoin, Ripple and Ethereum, creating its own token is a logical next step, however ExpertOption is choosing to go beyond and launch a crypto exchange that can fully support investor’s needs. The promising ExpertOption ecosystem is set to combine the power of the biggest industry in the world with the fastest growing technology of blockchain only nourishing confidence in the project’s upcoming success.
The public token sale begins this month.
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