ESR Wallet will be hosting a token sale for its universal payment and credit services platform, to begin on December 18th, 2017. ESR Wallet is a digital currency wallet that supports many popular blockchain assets and offers a full range of banking services. In October, the ESR team carried out a pre-sale that successfully raised more than $1M. Based in the UAE, the team have an office in Miami, USA
Project developer Alexey Korn had this to say about the targeted fundraising goals: “We are sure that it will be much easier to reach the sale goal of $8M, as long as we show our investors the huge scale of our work, and all the problems that we have solved during last 2 months.”
Despite several similar projects existing on the market, no other company has progressed as far along their roadmap as ESR Wallet. Well funded projects such as TenX and Monaco have raised more than $150M in total. Months after their coin offerings however, they have not yet delivered their finished platforms. Meanwhile, the ESR Wallet team is working hard to finish major aspects of their project’s foundational development before their token sale begins.
“Bringing a cryptocurrency bank into realization is both a technically and legally difficult task, due to the legal complexity of connecting traditional bank accounts to cryptocurrency exchanges. Unlike the founders of many similar projects, our team is highly experienced in the fields of finance and licensing. Our company, ES Reliable Investments, has been operating its own ATM network in the USA for years”, says Konstantin Beynars, technical director of the company.
By the time the ESR Wallet token sale begins on December 18th, 2017, the team will be close to completing the basic functionality of their platform. KYC and AML will have been implemented, and ESR’s currency exchange will be nearing completion. In the initial version, users will be able to use USD, EUR, BTC, BCH, DASH, ETH, and ESR to replenish their accounts, send payments to users on and off the platform, and to participate in digital currency exchange. ESR tokens will start at $7.50 each, but will increase to $10 following the release of the first ESR plastic cards.
“The price and liquidity of the Token after the sale is what most investors are interested in. In addition to the distribution of 30 percent of the company’s profits to all Token holders, the ESR Token will be used inside the ESR Wallet system to pay commissions. Thus, the use of our Wallet without ESR Tokens will be impossible. Considering that we have collected more than 15,000 pre-orders for ESR cards, our investors do not have to worry about the demand for Tokens on the exchanges after the token sale.” – Oleg Gerasimov, strategic management.