Startup Aims to Make Blockchain Mainstream With Brick and Mortar Stores

Ubanx, a crypto startup, plans to bring digital currencies to the real world and accelerate their mass adoption by opening brick-and-mortar stores in cities around the world, in order to give everybody an opportunity to understand and embrace the emerging world of crypto.

Even before it opens its first retail store, Ubanx is setting a lofty goal to become “the Apple Store of crypto” – with a focus on ease of use and quality of service.

To anybody who walks into its retail stores – known as Ubanx Spaces – the company will offer quick access to Ubanx’s mobile app with a curated selection of blockchain products and financial services. People would get face time with a Ubanx expert and be guided on how to open a blockchain account, to buy, exchange and trade cryptocurrencies, or purchase hardware wallets such as Trezor, or mining equipment. The spaces will also offer crypto schools, which aims to fill a void of blockchain education.

Operating on top of banks

The Ubanx team says it has developed contracts, relationships, and core technology to bring crypto to the masses. According to the company, Ubanx aims to operate on top of licensed financial institutions and banks, and it has already partnered Argentinian bank TSA Banking to provide a seamless crypto and fiat account experience. Among other partners are hardware wallet Trezor and Priority Pass, an airport lounge access program.

To date, the company has over 134 applications to open Ubanx Spaces in more than 17 countries, and the lists keeps growing, Ubanx says. The team has previously participated in more than 20 franchisees.

MIT innovator and finance veteran at helm

Ubanx was created by ex-bankers, business entrepreneurs and members of the Buenos Aires Stock Exchange who “decided to challenge the status quo of traditional banking”, the company says.

It is led by co-founder and CEO Janes Cochesa, a senior partner at the private equity firm Cochesa Investment. Cochesa has extensive experience managing and growing investment operations globally, with a focus on franchises, finances and sales for retail ventures.

Co-founder Pablo Orlando, who in 2015 was named an MIT TR35 Innovator by MIT’s Technology Review magazine, is the President and Chairman.

Mary Saracco, a former Investment Professional at the World Bank and UBS Investment Bank, serves as co-founder and Chief Investment Officer at Ubanx. She has served previously as the CFO of blockchain security infrastructure company, Zeppelin.

Ubanx’s advisors and backers include Steven Nerayoff, a blockchain pioneer who was involved in the creation of Ethereum and ZCash; Ami Ben David, SPiCE VC co-founder; and Stefano Angeli, CEO of Bank Transatlantica.

BANX token presale and public sale

In 2018, Ubanx plans to list its BANX tokens on a major crypto exchange, open an auction for Ubanx Spaces at strategic locations, and establish a crypto school.

BANX tokens can be used to obtain bidding for rights to apply to operate Ubanx Spaces in any particular location, and to purchase or obtain access to a variety of Ubanx products, services, and community benefits.

The BANX tokens are based on the industry standard ERC-20. A token presale is ongoing and scheduled to close on June 30, or when all tokens are sold. The public sale of tokens is to start one week after closing of the presale and will remain open until Aug. 23. Tokens are being sold for between €0.12 and €0.25 each, with pricing gradually rising through the presale period.

Ubanx offers to early contributors a presale bonus of 40 percent and special benefits such as access to 1,200+ VIP airport lounges, along with a one-year Priority Pass membership, for 1 ETH (min).

Cointelegraph

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