Linking old with new
The platform which links crypto-assets to classic bank accounts is designed to address both the increased interest in cryptocurrencies, as well as associated skepticism surrounding cryptocurrencies.
According to SamBanx, its technology can connect crypto assets to traditional EU bank accounts of ‘500 mln of the most powerful consumers in the world’ in 33 countries and 3000 banks in Europe. The technology uses PSD-2 and SEPA Instant Payments, so users can make withdrawals and deposits in a matter of seconds. SamBanx says it is constantly on top of the best currency exchanges on the market and has a real-time connection to 10 top crypto-exchange markets and can monitor all available rates. There is also a Know Your Customer option, access to multiple accounts for fiat and crypto currencies and a debit card that can be used at ATMs.
In its whitepaper, SamBanx says: “The crypto-economy is progressing fast. For common users, though, the blockchain technology remains unknown.” It continues: “Our goal is to bring cryptocurrencies closer to the general public and combine in one place all financial sources of our customers.”
SAM tokens are a crypto asset allowing users to use prepaid SamBanx services and take advantage of discounts. It will be available for investors and will also finance the launch of the platform. 1 SAM token = 0.40 EUR. 70 % will be available in the sale, 15% are reserved, 10% are to be delivered in airdrops and 5% will go to the bounty programme and advisors.
The ICO will run from October 1st to October 31st on the Ethereum network. The total amount of tokens available is 100,000,000 and there is an initial token price of $0.4700. Accepted currencies are ETH. To join the whitelist visit the SamBanx website.