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Bnext Receives $4.5M in Additional Investments Led by Borderless Capital to Push DeFi on Algorand

Bnext Receives $4.5M in Additional Investments Led by Borderless Capital to Push DeFi on Algorand, Crypto Trading News

May 12, 2022 – Madrid, Spain

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

Borderless Capital has increased its investment in Spanish fintech Bnext to $10 million with a new investment of $4.5 million.

our recommendation Bnext Receives $4.5M in Additional Investments Led by Borderless Capital to Push DeFi on Algorand, Crypto Trading News
What that means for Bnext

This latest investment will help advance Bnext’s goal of continuing to adopt cutting-edge financial technologies into 2022 and beyond. Borderless Capital will not only provide financial support but also invaluable expertise in the AlgorandBlockchainecosystem that will help Bnext accelerate the development of its many financial products and the adoption of the DeFi– Advance technology on a global scale.

Algorand and Bnext

The Algorand blockchain offers numerous technological advantages, including faster transaction speeds, lower fees, no mining requirements, and a permissionless-only Proof-of-Stake (PPoS) approach to consensus, to name a few. Bnext has already used Algorand to build its Walletapp and is developing several more use cases for the future.

Private IDO for the Algorand community

To show support for the Algorand community, Bnext will re-appropriate 350 million B3X tokens for a private IDO that will soon be launched on a leading Algorand DEX. These tokens represent all that is left of phase two of the initial B3X token sale.

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

Bnext public token sale raises over $5 million

Bnext partially completed its public token sale on March 31, 2022, successfully raising over $5 million. The token sale spanned two seven-day phases in March. In phase one, participants bought 360 million B3X utility tokens in the first few hours, and another 15 million were bought in phase two. The remaining B3X tokens from phase two will be burned after the expected IDO to increase liquidity.

The token sale has raised a total of $11 million so far, with Bnext reserving the last remaining tokens for a private IDO for the Algorand community.

B3X token utility

The B3X token is a utility token underpinning the entire Bnext ecosystem, whose mission is to bring financial freedom to a global community of banks and non-banks alike by expanding access to a growing range of next-generation financial instruments and remains committed to the continuous improvement of the user experience.

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

To learn more about how more and more people are taking back control of their finances, visit the Bnext website.

About Bnext

Bnext is one of the first Spanish fintech giants and a pioneer as an alternative to traditional banking. The company’s mission is to make it easier for people to take control of their money so they can live more freely, simply and intelligently.

Bnext links

Telegram ESP | Telegram ENG | Instagram | Twitter | LinkedIn | Facebook

Bnext app

App Store | Google Pay

Algorand-Left

Twitter | LinkedIn | Facebook | Telegram | Medium | discord

Boundless Capital Links

Twitter | LinkedIn

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

Marta Bnext

Bnext Receives $4.5M in Additional Investments Led by Borderless Capital to Push DeFi on Algorand, Crypto Trading News

The post Bnext Receives $4.5M in Additional Investments Led by Borderless Capital to Push DeFi on Algorand appeared first on The Daily Hodl.

Source: Crypto News Deutsch

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