Idea & Token
BridgeX Network is aiming to make a bridge between two worlds of cryptocurrency and fiat and solve the same old problem of low and inconvenient interoperability and conversion. The feature set will include crypto-powered cross-border payments, P2P crypto-based lending and borrowing, as well as decentralized credit, conversion, and payment solutions.
Three main components of the network:
The heart of BridgeX Network. Smart contracts based on the Ethereum provide on-chain loan matching service, on-chain loan tracking services, and an oracle for collecting off-chain loan contract data, plus a cash management module BRIDGEPay with off-chain solutions for crypto to fiat conversions and cross-border payments.
The platform will include three cash management solutions – BRIDGEPay (a conversions and payments solution), BRIDGELoan (a decentralized P2P collateralized lending marketplace), and a platform for other DApp developers.
Their ERC-20 token called BXN will have a number of use cases, such as right to access the platform, membership system, network fees discounts, zero-fee lending and borrowing, lower interest for borrowers, loan repayment, and for rewards for users. A total supply is 1 billion tokens. The token distribution is as follows: 30% – sale, 35% – liquidity pool and reserve, 20% – team and advisors, 15% – partnerships and community.
BridgeX Network is six guys with lots of experience in finance industry and startups. CEO Jody Ong has 10+ years of experience in payments, derivatives, and FX trading, was a Managing Director at Wallex Technologies. The rest team members have years of work as business managers in investment, trading and other finance-related spheres. Seven advisors are also from financial world, top managers with experience at HSBC, Yello Digital Marketing, Citibank, and many other comanies. All in all, the team is very strong and will definitely use lots of established relationships in Southeast Asia for the project development.
As many other projects, BridgeX Network is going to connect two separate financial worlds of fiat and cryptocurrencies. We are not surprised. But! We haven’t seen a feature set like this in other projects, the guys know all ins and outs in the industry, financial situation in Southeast Asia is also favorable, and last but not the least – a working product. The project is still on its early stages and doesn’t have serious hype yet, though we are sure the guys will manage to fix it.
A promising project having a great chance to finally erase the bound between fiat and cryptocurrencies.
BridgeX Network ICO datesexport to calend
The BridgeX Network is the framework for a financial ecosystem of decentralised credit, conversion and payment solutions, enabling crypto-to-crypto collateralised lending and borrowing, crypto-to-fiat currency conversions and cross border payments. The network will unite the full spectrum of financial services players in the blockchain industry and open new opportunities for traditional financial institutions/services to enter and participate in this new world economy. Any third party integrator or distributed app (DApp) developer can leverage the power of the BridgeX Network to offer new services on their existing platform or create DApps/ Apps on the network that solve real-world financial needs.
Our goal is to have the BridgeX Network power a vast ecosystem of decentralised and off-chain crypto financial services that will effectively democratise access to credit and bridge the divided worlds of crypto and fiat. We envision a future where the underbanked get access to affordable credit, where cryptocurrencies are recognised as a legitimate asset to be accepted as collateral and where there is seamless interoperability between the divided worlds of crypto and fiat.