Skip to main content

Bnext has announced a total investment of $10 million as the Spanish fintech giant prepares to complete its token sale.

Madrid, Spain, May 12, 2022 — Borderless Capital has increased its investment in Spanish fintech Following to $10 million with a recent investment of $4.5 million.

What this means for Bnext

The latest investment will contribute to Bnext’s goal of continuing to introduce cutting-edge fintech in 2022 and beyond. Borderless Capital will provide financial support and offer invaluable expertise in Algorand’s blockchain ecosystem to help Bnext accelerate the development of its many financial products and drive the adoption of decentralized finance technology globally.

Algorand and Bnext

The Algorand blockchain offers several technological advantages, including faster transaction speed, lower fees, no mining requirements, and a pure proof-of-stake consensus mechanism without permission, to name a few. . Bnext has already leveraged Algorand to power its wallet application and is developing more use cases for the future.

Private IDO for the Algorand community

To show its support for the Algorand community, Bnext will reclaim 350 million Bnext (B3X) tokens for a private IDO – initial decentralized exchange (DEX) offering – soon to be launched on a leading Algorand DEX. These tokens represent all that remains of the second phase of B3X’s initial token sale.

In addition to the IDO allocation, all members of the Algorand community who participate and hold tokens on the DEX will have priority access to new features and other benefits. Information about the IDO will be released on Bnext’s social media in the coming weeks.

Public sale of Bnext tokens raises over $5.2 million

Bnext partially closed its public token sale on March 31, successfully raising over €5 million ($5.2 million). The token sale spanned two seven-day phases in March; the first phase saw participants purchase 360 ​​million B3X utility tokens in the first few hours, and an additional 15 million were purchased in the second phase. The remaining B3X tokens from phase two, after the planned IDO, will be burned to increase liquidity.

The token sale collectively raised €11 million ($11.43 million), with Bnext reserving the last remaining tokens for a private IDO for the Algorand community.

B3X Token Utility

Bnext Token is a utility token that underpins the entire Bnext ecosystem. The mission of the platform is to bring financial freedom to a global community of banked and unbanked members through expanded access to a growing range of next-generation financial tools and to remain committed to constantly improving the user experience.

Borderless Capital’s continued support will help Following strengthen its growing community and bring more value to users with international expansion. Upcoming products on the Bnext roadmap include a robust reward system, a diverse marketplace, its crypto wallet app with buy and sell conditions, international money transfers, user discounts and more Again.

To learn more about how more and more people are regaining full control of their finances, visit Bnext website.

About Bnext

Bnext is one of the first Spanish fintech giants and a pioneer in offering an alternative to traditional banking. The company’s mission is to make it easier for people to control their money to live a freer, simpler and smarter way.

Following links:

Next app:

Algorand links:

Capital without borders

Bnext is the source of this content. This press release is for informational purposes only. The information does not constitute investment advice or an investment offer.

Contact:

This is a paid press release. Cointelegraph does not endorse and is not responsible for the content, accuracy, quality, advertising, products or other elements of this page. Readers should do their own research before taking any action related to the company. Cointelegraph is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.