UAE-based blockchain tech firm ESR Wallet is pleased to introduce the world’s first universal wallet, embedded with a full suite of banking and financial services that include savings, credit, cashback, trading and merchant services.
The project already has a firm financial footing from a successful pre-sale that has already raised more than $1 million in October, instilling backers’ strong belief in this revolutionary solution. In order to raise the necessary funds for further development and to finally roll out its payment and credit services platform, EST Wallet is hosting a public crowd sale that has started on December 18th, 2017.
The ESR Wallet, which also has an office in Miami, USA, essentially serves the functions of a cryptobank, providing annual deposit returns of 20%, payments, cashback and credit services that already operates with fiat currency through over 300 ATMs located throughout the US. In addition, it is a digital asset wallet supporting some of the world’s most popular blockchain assets, coins and tokens.
ESR Wallet project developer Alexey Korn expressed his confidence in reaching the project’s target fundraising goals of $8 million, saying that:
“…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.”
Acknowledging the competition in the same industry within the blockchain arena, ESR Wallet excels other similar projects in its ability to deliver products with their major functional aspects on the platform before initiating a token sale, while the majority of other projects fulfill roadmap objectives only after millions of dollars has been raised.
ESR Wallet technical director Konstantin Beynars remarked on the legal and technical complexities of realizing a cryptocurrency bank, as the conventional sphere of banking services must first connect seamlessly into cryptocurrency exchanges. But where others have a working concept, the team behind ESR Wallet is backed by years of experience:
“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”.
After the launch of the token sale on December 18th, the project has already begun proceeding to achieve basic platform functionality, with full KYC and AML implementation alongside a nearly-finished currency exchange.
Users will be able to access the initial version to replenish their own accounts, send payments to other users within and outside the platform, as well as trade and exchange with a myriad of crypto and fiat currencies, including USD, EUR, BTC, BCH, DASH, ETH and ESR tokens.
ESR strategic manager Oleg Gerasimov reflected on the biggest concern of stakeholders, which is the price and liquidity of tokens. In recognition of this, the company will distribute 30% of all profits to token holders, while the ESR Wallet will require the use of ESR tokens 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.”
ESR tokens will be sold at a base price of $7.50 per one during the token sale, after which it will increase to $10 as soon as the first ESR plastic cards are released. After only one day, the crowd sale has already sold over 150,000 ESR, raising 2,635 ETH and 42 BTC.