Singapore Startup Aims to Help Bitcoin Gain Real World Value with Visa
TenX, which states on its website that it makes ‘cryptocurrencies spendable anytime anywhere,’ proclaims to be the answer at connecting bitcoin to the real world with the aid of its debit card and banking license.
In a report from Deal Street Asia, the Singapore startup is reported as being an ‘instant converter of multiple digital currencies into fiat money.’ By connecting TenX’s digital wallet to that of a Visa card, users can simply and easily pay for items in the merchant’s local currency, which is taken from the user’s digital currency account.
At present, TenX process around $100,000 transactions a month, but the startup is aiming to reach $100 million in monthly transactions and a million users by 2018.
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