On March 14 debit card infrastructure startup MoxyOne announced its ICO launch. The startup is notable for its wallet system; it allows the clients to pay with cryptocurrency at a retail shop (be it online or physical) and to withdraw fiat from ATMs wherever they are. Basically, any cryptocurrency can integrate MoxyOne into its platform, MoxyOne in turn will create a synergy between blockchain and payment networks so that any token would get exchangeable into fiat. This is a unique concept and all the existing blockchain platforms need to do is to white label MoxyOne.
As it stands now there is a disconnect between digital and physical currency. MoxyOne will serve as a transformative step in the future of the cryptocurrency community, allowing anyone to access their funds and apply them to real-world purchases by utilizing our reliable blockchain network and partnership with cryptocurrency exchange COBINHOOD, we are confident that we will find success in connecting these two worlds.
Co-Founder and Lead Developer, MoxyOne
The ICO is organized in such way that a smart contract is linked with the MoxyOne token's (SPEND) ticker and it creates coins by means of transactions of Ether. This way there will be no tokens to be distributed when ICO finishes. Moreover, a recent partnership with aforementioned COBINHOOD was reported: the exchange will provide sponsorship for SPEND token.
The hard cap is set to 50 mln tokens, all the raised funds will be directed to the platform's further development. The launch of usable debit cards with partnering digital currencies is set to Q3 of 2018.