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 got approval to release a crypto debit card, is currently fundraising on the online platform that facilitates investments in FinTech, blockchain, and bitcoin companies, BnkToTheFuture.
Amon has so far raised over $470.000 in equity funding and is backed by a large Hungarian Bank and a VC. Amon is still fundraising on BnkToTheFuture for a few more days.
Since its inception in April 2018, Amon has onboarded 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 which integrates fiat, crypto, and several other products to support user spending and investing. The Wallet offers different solutions to ease crypto adoption such as:
- EUR/GBP and crypto wallets
- Amon Earn -an investment product in partnership with Celsius.Network to earn passive interest on crypto assets
- A one-click exchange
Coming up soon are:
- Amon Debit Card to spend EUR/GBP currencies anywhere UnionPay is accepted
- Investment Assistant to help users make better spending and investment decisions
An Ethical TokenUtility to support charities
What are the main value propositions?
With the green light for the card launch, Amon is set to become an important player in a market that is still widely underserved, considering going by the massive growth of crypto users in of the past years (from five million in 2016 5 to 46 million crypto users from 2016 to by 2018 according to a Cambridge University Study).
Amon is also launching an Investment Assistant which its CEO, Daniele Izzo, says that “will support users in their investments and spending decisions.” says the CEO, Daniele Izzo. The Amon Investment Assistant is a tool that will help new and existing crypto users to understand crypto trends, compare volatility and get a risk score to each user’s Portfolio. This information will help users to balance their portfolio in a more or less risk averse position.
In June 2019, Amon has also launched a partnership with Celsius.Network which now enables , Amon Wallet users are already able to get 3% to – 12% annual passive interest rates – , paid on and a weekly basis and without a locking period – on their crypto assets like, in the Amon Wallet for BTC, ETH, XRP, LTC, BCH, DAI and USDCCD.
Celsius.Network is also actively supporting Amon fundraising on their Twitter showing Amon as one of their first partners. The integration of the Wallet with the Card will then allow users to earn passive interests and spend them within the same Wallet.
If you haven’t checked it out yet, here you can find their pitch on BnkToTheFuture.