The Ireland-based startup is aimed at driving the usage of digital currency by making crytocurrency transactions as easy as sending a text message.
Despite the growing adoption of cryptocurrencies all over the word, there is still a large part of the population that doesn’t use any type of digital currency. Nowadays, only 0,05% of people around the world use virtual money, while 75% of internet users utilize messaging apps.
Mingo is a new startup from Ireland that wants to bring the digital currency to more people with the technology they already use each day: messaging app. According to the Mingo team, the platform has been under development within the last two years.
Called MingoMessenger, the messaging platform lets users to manage their chats across different services, such as Twitter, Slack, and Facebook, on a single app. Unlike other messengers, such as WhatsApp and Telegram, it allows users to securely conduct financial transactions using digital currency.
The app is already live and over the past 20 weeks has been used by more than 50,000 users in 170 countries. The messaging platform is now available on Google Play and Apple’s App Store.
Within MingoMessenger, there will be MingoWallet, a multi-currency wallet that lets users to send the in-built ethereum token called MingoCoin. The wallet will be compatible with Lightning and Plasma networks allowing customers to make almost instant transfers with lower fees. In addition, users will be able to exchange between virtual and fiat currencies.
Mingo is currently planning to launch their token pre-sale on September 25th, 2017, aiming to raise €2,000,000, while the ICO is scheduled to start in Q1 2018. The goal of the ICO is to collect funds for long-term development of the product and adding more popular messaging channels. Furthermore, Mingo is going to open new offices in the US, China, and Ireland and other locations where proximity to partners would be realized.
Mingo is planning more strategic partnerships and has already teamed up with a home automation company Xunison and a forex trading company CYFX. Thanks to agreement with Xunison, Mingo is guaranteed to have at least 1.2 million users in the near future.
Last month, a popular messaging platform Kik revealed plans to raise $125 million via its ICO campaign. The crowdsale began on Setember 12 and has already attracted more than 10 thousand participants from 117 countries. Prior to the ICO, it received about $50 million in a pre-sale from institutional investors, including such well-known blockchain-focused investment firms as Blockchain Capital, Pantera Capital and Polychain Capital.
Kik is by far the largest consumer userbase entering the world of ICO. In near future it plans to reach over 300 million registered users and 15 million monthly users.
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