PRESS RELEASE. Amon, known for their innovative app that aims to make using digital currencies stress free, will soon release their debit card in 31 EEA countries.
The company, which recently received approval to release a crypto debit card, is currently raising funds on the online platform that facilitates investments in FinTech, blockchain, and bitcoin companies, BnkToTheFuture.
Amon has so far raised over $ 470,000 in equity financing and is backed by a large Hungarian Bank and VC. Amon is still raising money on BnkToTheFuture for a few more days.
Since its inception in April 2018, Amon has joined two institutional investors -MKB Bank (the fourth largest bank in Hungary) and Digital Magics, a VC that invests in innovative FinTechs.
They have been developing Amon Wallet that integrates fiat, crypto, and several other products to support consumer spending and investment. The Wallet offers different solutions to facilitate crypto adoption such as:
- EUR / GBP wallets and crypto
- Amon Earn – an investment product in partnership with Celsius.Network to earn passive interest on crypto assets
- One-click exchange
Coming soon are:
- Amon Debit Card to spend EUR / GBP currency anywhere UnionPay is accepted
- Investment Assistant to help consumers make better spending and investment decisions
Ethical Ticket Utility to support charities
What are the main value propositions?
With the green light for the launch of the card, Amon is set to become an important player in a market that is still widely undermined, considering the huge growth of crypto users in recent years (from five million in 2016 5 to 46 million crypto users from 2016 to 2018 according to Cambridge University Study).
Amon is also launching an Investment Assistant whose CEO, Daniele Izzo, says “it will support consumers in their investment and spending decisions.” said CEO Daniele Izzo. Amon Investment Assistant is a tool that will help new and existing crypto users understand crypto trends, compare volatility and get a risk rating for each user’s Portfolio. This information will help users balance their portfolio in a more or less risky situation.
In June 2019, Amon has also launched a partnership with Celsius.Network that now enables, Amon Wallet users are already able to get 3% to – 12% annual passive interest rates -, paid weekly and without lock – on their crypto assets like, in Amon Wallet for BTC, ETH, XRP, LTC, BCH, DAI and USDCCD.
Celsius.Network is also supporting Amon fundraising on their Twitter showing Amon as one of their first partners. Integrating the Wallet with the Card will then allow users to gain passive interests and spend within the same Wallet.
If you haven’t watched it yet, here you can find their pitch on BnkToTheFuture.
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