TenX Partners With a New Card Issuer

Julian Hosp, co-founder of TenX, revealed that TenX has partnered with a new card issuer aiming to release one million new cards within 2018
30 January 2018   271

TenX is designed to connect blockchain assets to real world payment platforms with its app, the TenX card and the forthcoming banking licence.

Julian Hosp, the co-founder of TenX, has stated in his speech regarding TenX card situation on January 27, that TenX has a new partnership with a major card issuer. As for now, TenX company can not reveal the name of the card provider due to a non-disclosure agreement.

So what does this mean to us this year? It means that we actually have a very good relationship with a new card issuer. I can't tell you the name. We have a NDA [non-disclosure agreement] with them, so I am not allowed to announce the name, but we have a very good timeline with them, we have a very good relationship. I just met them in Europe, and we have regular meeting here in Singapore with them. They are a really large respected company. And the fantastic thing about this is that they really want to do it legit. They don't want to take any shortcuts. With Wave Crest it has always been a bit on the edge.
 

Julian Hosp

Co-founder, TenX

Moreover, the co-gounder of TenX stated that the company wants to leave a solid foundation, and with the new card issuer partner it is going to be possible. TenX has a timeline and plans to issue cards within the first quarter of 2018, focusing on Asia and, particularly, people who travel, as it is easy tp use cryptocurrency to, for example, avoid Forex fees.

In a partnership with a new card issuer, TenX aims to issue a million cards until the end of 2018.

At the moment of press, these are main market parameters of TenX token:

Average price: $2,43
Marketcap: $253 885 313
24h volume: $9 856 080

German Financial Regulator Clarifies Stance on ICOs

The Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) has clarified its position on ICOs
22 February 2018   33

German financial regulator admitted it was receiving many inquiries about the status of tokens and cryptocurrencies. According to an advisory letter, BaFin provides some basic definitions of ICOs and related terms. It is important because the results of a new survey showed that more than two-thirds of Germans know about bitcoin.

In this letter, BaFin educates the public and explains how tokens are typically generated, how blockchain works and that ICOs are used to raise funds for startup projects. The note states that for regulatory purposes, ICOs, tokens, coins, and cryptocurrencies are subject to the existing provisions in the field of securities supervision and other relevant national and EU laws.

The authority advises participants in ICOs to check and follow rules applicable to regulated financial instruments, such as securities. If businesses or individuals have any doubts about regulations, they should approach BaFin.

According to BaFin, companies should fulfill any obligations under the Banking Act and the Capital Investment Code, the Insurance Supervision Act and the Payment Services Supervision Act. The transactions may be prohibited if relevant regulatory requirements are not met.

The authority also states that legal classification of tokens requires precise examination. It will determine their status on a case-by-case basis after studying their features. The token should be transferable and tradable on cryptocurrency trading platforms in order to be classified as a security.