Ubank, the mobile payments app operating in Eastern Europe, announced that Amereus Group has become an investor in its blockchain ecosystem Ubcoin Market.
The company will use received funds for promotion of its blockchain platform Ubcoin Market that allows users to sell and buy real goods with cryptocurrency. Felix Khachatryan, CEO and one of the co-founders of Ubank and Ubcoin Market, says that Asia is the most promising market for project development.
Amereus Group, a Singapore-based investment fund supporting innovative tech-enabled businesses, has become an investor in the platform. Rim Hosup, Director at Amereus Group, noted that several factors influenced their decision. In his opinion, there are important points that “set Ubcoin Market apart from the majority of ICO projects.”
“Ubcoin Market will become an integral part of Ubank, an app that is pre-installed on all Fly and Samsung smartphones, which is particularly impressive considering that only 9% of all ICO projects have a working business and/or product prior to the start of their crowdfunding campaign. Apart from that, Ubank has ensured that their blockchain product meets all KYC and AML requirements and has conducted due diligence and all the other procedures proving the stability, transparency, and legality of the company and its structure,” – Rim Hosup, Director at Amereus Group said.
Ubcoin Market is planning to conduct an extensive research of separate national markets and start its expansion during the 2nd and 3d quarters of 2019.
By Ekaterina Ulyanova