Everex Announces Mobile Blockchain-powered Microfinance And Fiat Transfer Platform

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Everex, a well established Blockchain company developing Ethereum applications, announced yesterday that it is expanding its operations towards global, Blockchain-enabled microcredit and fiat remittance services.

In a blog post announcing the new service, the company stated that it seeks to connect two billion un- and underbanked individuals to the global financial system, by allowing them to access affordable instant micro-credit and global fiat transaction services from mobile devices.

Everex mobile fiat transactions are based on the company’s already existing Cryptocash service and its mobile Ethereum wallet. Cryptocash is an Ethereum ERC20 token family, pegged to fiat currencies and tradable on the Everex Wallet, as well as on third-party applications and exchanges. With the new product launch, Cryptocash will be redeemable against its fiat counterpart at ATMs, currency exchangers, and mobile service providers worldwide, allowing users to instantaneously transfer fiat money anywhere at extremely low costs.   

The Everex remittance system was already tested last year, allowing hundreds of migrant workers to transfer an aggregate amount of 850,000 THB from Myanmar back home to Thailand.  

The new service will also allow users to request micro-loans in any currency from their mobile phones. The credit scores, necessary to assess interest rates, loan periods and risk, will be automatically generated on the spot, based on user behavior, social data, and spending patterns, which Everex collects through the company’s mobile wallet application.

“Generating credit scores on the basis of mobile data will allow us to serve the microfinancing needs of many un- and underbanked individuals which, due to the often deficient documentation and track records in the developing world, had until now no access to affordable credit, ”

Said Alexi Lane CEO and co-founder of Everex, adding:

“Affordable credit is a key element of entrepreneurship and economic empowerment, and we’re proud to be able to provide this service”

The seed capital to launch Everex’s micro-lending operation will be raised in an Initial Coin Offering (ICO) this summer. As declared by Everex, the company will use profits, not directly reinvested in growth, to buy its tokens (EVX) back from the market – insuring that the company’s success is shared with token holders. Further campaign details will be announced on Everex’s site in the coming weeks.   

Founded in April 2016, Everex has developed a host of infrastructural services, widely used in the Ethereum industry. Everex’s Blockchain browser API is incorporated in well known third-party services such as MyEtherWallet, RSK, Coinbooks, CoinTracking, Chronobank, and Coinigy.   

Additional Everex in-house products include The Everex Exchange Wallet, a multi-currency, multi-asset mobile trading wallet for Ethereum tokens; Chainy, providing irreplaceable Blockchain URLs aka “aeon links”, permanent proof of existence for documents, and a public text messaging service on the Ethereum Blockchain; Ethplorer, an Ethereum token monitor; and Cryptocash, an Ethereum token family, pegged to fiat currency and tradable on the Everex Wallet, as well as on third-party applications and exchanges.

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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