Button Up: Telegram-based Startup Button Raises $20K and Joins PlayLabs
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16 August

Button Blockchain Technologies (BUTTON) raised $20,000 in a pre-seed round and has joined the second class with Boston’s accelerator Play Labs, at Massachusetts Institute of Technology (MIT). The startup is providing its services for and is oriented to the Telegram messenger audience. Currently Button unveiled only its multi-cryptocurrency wallet, which is connected to Waves DEX and can be used to top up mobile balance as a test service.

Young and ambitious, the startup promises not to stop at this, aiming for something much bigger, as the company's goal is to create a corporate platform for customers relationships and communication for tokenized projects and later in 2019 to present a full-fledged corporate solution.

“We believe that with our strategic help, BUTTON will be one of those ground-breaking projects that will impact the development of the entire cryptocurrency sector and move it in a forward direction." said Rizwan (Riz) Virk, the CEO of Play Labs.

Introducing Telegram Passport

All Button services are running in a closed beta testing but users can apply via the official Telegram bot @buttonwalletbot.

“With the Alpha version we grew up to 7,000 users in two months, we’ve got a positive feedback on the speeds of our services and transactions. As the goal for the next 6-12 months, we are planning to enlarge up to 200,000 users, but what is more important, we would like to create a comfortable eco system for managing the cryptocurrency assets. We are going from the basic product, that is easy to understand for the user,” the CEO of Button Alexandr Safonov told Insider.Pro.

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WHY IS IT IMPORTANT?

  • Telegram is a key communication platform for the cryptocurrency and blockchain sector. Recently it has presented its Telegram Passport. The technology to verify the identity of financial services that will be connected to the system, as Telegram itself is the anonymous platform.
  • Button is a new startup and its team, which consists just of four people, has already won a number of developers’ hackathons, including Blockchain Founder, Imagine Cup Russia, Unblock Hackathon organized by Waves and WBS Summit Hackathon organized by CryptoBazaar & IDACIB.
  • Play Labs is a private accelerator ran by Bayview Labs, an investor in Twitter and a Facebook. It is specializing on early stages investments.
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