BABB is now seeking a banking license to help build adoption for the Blockchain community & is open to qualifying investors (US and Non-US)
BABB aims to become a licensed blockchain bank and is currently preparing applications for banking licences in the UK and Lithuania. They have been given the green light by the Bank of Lithuania to submit their application and aim to do so by the end of 2018, an application to the UK will follow accordingly.
Type: Equity pitch + Bonus Tokens (available for US and Non US investors)
BABB aims to build a Blockchain based banking platform to provide a peer-to-peer banking services designed for the global micro economy. With US$18 million (Ether equivalent) raised in the initial ICO (for backing of the software development), it is now raising additional funds through equity to continue developing the banking infrastructure in the EU and UK
* £1.5 million raised in equity already.
* Global community of 50,000 people spanning 173 nationalities.
* Blockchain banking app & payment card aiming for initial launch by the end of 2018.
* Two billion people unbanked in the world, an estimated US$380bn market opportunity.
Should BABB receive an appropriate banking license, it aims to provide access to a bank account for the unbanked and underbanked across the world with global economic connectivity built-in.
* Mobile App – customers will be able to open an account in a few seconds via the app, connecting instantly with other customers to make payments, raise funds and exchange currencies.
* BlackCard – The BlackCard will be a decentralised payment card independent of Visa and MasterCard. It links to the BABB app via QR code or NFC tag.
* Blockchain – Using a blockchain BABB plan to run a decentralised financial ecosystem with low overheads, instant execution, cheaper transactions directly between users.
* Biometrics – They plan to use face and voice recognition to create core digital identities for all participants.
* The Market – Their research shows that banking the unbanked represents a $380 billion opportunity. Incumbent banks struggle to cater the unbanked. BABB can viably provide people with access to banking services and the opportunities they unlock.
THE STORY SO FAR:
* Became member of Level39 incubator
* Begun the process to apply for bank license in 3 jurisdictions including the UK
* Raised 19,023 ETH in a sold-out token sale to fund software development worth around US$18m at the time
* Built engaged social media following * Successful equity raise underway with minimum funding goal achieved already.
TEAM: The BABB team are made up of entrepreneurs, bankers and technologists spanning a broad range of experiences. They believe they are well placed to address financial exclusion with first-hand experience of the issues, along with senior management experience in banking and technology.
Rushd Averroes (Founder/CEO): Is a financial inclusion specialist. He previously founded Wowpaymobi, an API which provided foreign exchange and payment services for UK SMEs and holds an MA in Microfinance and Financial Inclusion.
Paul Johnson (CIO): Is a technological evangelist and has held CIO and COO positions in financial institutions including Aldermore Bank, Lloyds Bank and GMAC FS. He is also an iNED on the Board of Sonali Bank.
Leonard Seelig (Managing Director): Has twenty years’ banking experience and leadership positions within private and public companies. He recently retired from his role as chairman of APC Technology Group PLC and Board member of Defenx PLC.
Adam Haeems (COO): Has a Master of Finance from Cambridge University and has enjoyed an accomplished trading career at Bank of America Merrill Lynch and QCM, a $1bn global macro hedge fund.
Ricardo Abreu (CPO): Specialises in innovation delivery, from ideation to go-to-market strategy. He was previously at Accenture Interactive and Fjord, providing design and innovation consultancy to Fortune 500 companies.
Disclosure: Director’s loan exist
EQUITY PLUS BONUS TOKENS:
* BABB would like to offer all equity investors a bonus of 40 BAX for each $1 you invest. For example, if they invest $10,000, they’re entitled to receive 400,000 BAX tokens.
* BAX bonus tokens will be distributed once the second phase is live, which we anticipate in Q3 2019. The second phase is contingent on the successful completion of three deliverables – the launch of the BABB app, formation of at least one major international partnership, and the receipt of a banking licence.
* BABB would also like to offer all equity investors the chance to buy discounted BAX in the second phase of our token sale. Investors can purchase the same amount of BAX they received as a bonus, at a 35% discount.
PITCH TYPE: EQUITY + BONUS TOKENS EQUITY ON OFFER: 4%
MINIMUM INVESTMENT AMOUNT: US$1,000
TOTAL INVESTMENT GOAL: £2,000,000
This deal is on a first come, first serve basis. For full details and to make a purchase click here.
IN THE NEWS
A short interview from Crypto Love, featuring CEO and Co-Founder of Bnk To The Future – Simon Dixon, explaining a brief history of Bnk To The Future, BFT token, project ambitions and general market situation. Catch the 20 minute video session on the following link: Enjoy and watch here!
Other BnkToTheFuture News
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B52 foresees an opportunity in the traditional fiat currency banking world to create an “any asset” digital bank, allowing customers to buy stocks, provide peer to peer (P2P) loans, purchase real estate, buy insurance or initiate payments instantly with cryptocurrencies at the same time.
Qualifying investors can view the pitch and invest here.
TECHNICAL UPDATES (11/10/2018):
Whilst the BF Wallet is awaiting its independent security audit before going live to the community, the tech team has been focusing its efforts on making the Secondary Market even more versatile from the start. On top of the internal transfer payment option, they have begun integrating direct altcoin and Bitcoin payments for the trades, making it easier to trade.
You can read the full update here
SECONDARY MARKET UPDATE
In the 3rd AMA session with our CEO and Co-Founder – Simon Dixon, he announced that the BitFinex SPV will be our first secondary market deal to launch later this year. This will allow new qualifying investors to purchase shares from previous investors looking to sell. More on the original BitFinex equity round case study here.
OVER US$615,000,000 INVESTED:
We have now passed $615,500,000 invested in funding rounds listed on our Online Investment Platform. We thank every investor who have contributed to an investment in the Future of Finance and Technology. More details can be found on our home page
We have now paid our BnkToTheFuture Professional Investor Members over 942,000 dividends and over $22,000,000 has been returned through our dividend paying funds.
We are delighted to have over 65,000 (and counting) real active registered BF Professional Investor Members on our Online Investment Platform who are waiting for more Financial Innovation & Technology Investment opportunities to invest in. Click here to find an opportunity you like.
MORE FINANCIAL INNOVATIONS:
If you are involved in Financial Innovation & Technology then we would love to receive your application and explore if you can raise investment with us. Whether you have an ICO / Token Sale, equity or other offering, 98% of companies that have listed on our Online Investment Platform so far have raised at least their minimum funding goal. You can make a quick application for finance here and we will follow up.
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BFT ON EXCHANGES
BF Token (BFT) are listed on Bitfinex, a top 5 digital asset trading platform. DISCLAIMER – BnkToTheFuture is a shareholder in BitFinex and they previously listed equity on our platform.
Huobi is one of the largest volume exchange with a Asia-focused (but global) client base has just announced BFT deposits with trading.
Bittrex is one of the larger crypto-to-crypto exchanges and the latest exchange to start trading BFT.
Upbit is a Korean C2C exchange and is launched by the biggest messaging app developer in Korea, Kakao.
Gate.io is a top 20 cryptocurrency exchange that was first to make a trading market in BF Token (BFT).