Flashmoni Kicks Off Phase Two of Initial Coin Offering

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Flashmoni’s financial ecosystem set to include several services for unbanked and underbanked, Company raised $62 million USD in phase one.

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We aim to introduce blockchain-powered solutions that can help people take part in global commerce – from depositing and storing money to transferring funds and making payments

Flashmoni, a blockchain company providing solutions aimed at financial inclusion and serving the unbanked and underbanked, today announced the second phase of its initial coin offering (ICO).

“There are more than two billion people across the globe who do not have access to fundamental financial services, which is why we created Flashmoni,” said Serge Piana-Lobréau, CEO of Flashmoni. “We aim to introduce blockchain-powered solutions that can help people take part in global commerce – from depositing and storing money to transferring funds and making payments.

“At Flashmoni, we believe this begins with introducing a utility instrument that is not susceptible to the high levels of volatility we’ve seen with other cryptocurrencies and several government-backed currencies,” continued Piana-Lobréau. “Many people cannot afford to lose money as a result of market volatility, which is why we created gold-backed tokens, ensuring stability.”

Flashmoni’s financial ecosystem includes five primary tools:

  •     Crypto ATMs (FlashCryptoStation) allowing users to insert fiat currency and convert it to digital currency – intended to provide ATM access to billions of people without access to banks
  •     Multi-currency Wallet (FlashWallet) that works as a bank account for e-money, to store both fiat and cryptocurrencies
  •     Banking smart-card (OZTCARD) that lets people pay with different types of currencies, as well as integrates multiple credit, debit, prepaid and loyalty cards – to protect against theft, the card has a fingerprint reader and code access, and automatically enters safe mode when it loses connection with the user’s cellphone. It also is cold storage, a feature that ensures safety of fiat and crypto currencies’ wallets
  •     Remittance services (FlashRemitt) allowing instant transfer of crypto/fiat currencies
  •     Exchange platform (FlashXchanger) for cryptocurrencies and 180 fiat currencies

In addition to Flashmoni’s tools, the company offers two gold-backed tokens at the center of its financial ecosystem:

  •     OZG is a private, non-tradable token directly backed by physical 24k gold that will be stored in a depository and audited quarterly by an independent and internationally known accounting firm. This is a security token that will not be available to the public, but ensures the system’s stability.
  •     OZT is a tradable utility token backed by OZG, meaning its core value is also backed by gold. It is available to the public and will be found on exchanges including Bittrex, Binance and FlashXchanger.

OZG’s value is equivalent to 1 grain of gold, or about 0.065 grams, and will not fluctuate with market movements, as it is not available on public exchanges. OZT’s price will fluctuate based on trading, however, its price will never fall below 1/20 of OZG’s value. Unlike the majority of tokens on the market, OZT has a core value because it is backed by the amount of gold the company has stored.

During Phase 1 of Flashmoni’s crowdsale, the company raised $62 million U.S. Dollars. There are still approximately 141 million OZT tokens remaining, with a hard cap of $100 million.

Flashmoni will be able to keep rates and fees low by focusing on its advertising solution as its primary generator of revenue. Its blockchain advertising solution (FlashAdChain) boasts smart contracts and ensures fully transparent advertising rates.

Flashmoni is based in Lisbon with offices in London, Singapore and Dubai. Prior to launching its ICO, the Flashmoni’s leadership team bootstrapped the initial development of the company and its solutions, unique in the ICO-space. The ICO is closed to general investors in the U.S.

About Flashmoni
Flashmoni is a blockchain company built for financial inclusion. As part of its comprehensive financial ecosystem, it provides banking solutions to everyone in the global community – most importantly the unbanked and underbanked. Flashmoni’s ecosystem can be divided into three essential components: Cryptocurrency tokens, tools for the unbanked/underbanked and advertising solutions. Specifically, it offers a utility gold-backed token and its tools include physical crypto ATMs, multi-currencies digital wallets, a fiat and cryptocurrency exchange platform, a smart-card used for payments and remittance services. Additionally, Flashmoni has created an advertising solution featuring smart contracts, which serves as its primary source of revenue and allows it to keep fees and costs at a minimum.

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since: 10/2017
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