Everex

cryptocurrencyblockchain

FOUNDING YEAR: 2016
LOCATION: Singapore
Last Update: 01/05/2020

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About

Everex addresses cross-border payments and financial inclusion problems to help 2.5b of un(der)banked adults around the world with access to financial services.  Our solution is to place government backed currencies on [Ethereum] blockchain to create a new value transfer protocol, with primary applications being  - cross-border remittances (migrant workers)  - B2B X-border payments (importers/exporters)  - FX traders and brokers (deposit/withdrawals, clearing and settlement)  - online payments for high-risk merchant categories (airlines, travels, gaming, electronics, etc.) - government payment solutions (auctions, taxes, fees, subsidies, etc.)   We call such form of currency “cryptocash”, as this is something regular people recognize and understand.  CryptoCash is your money order on blockchain. Only licensed or authorized financial entities can underwrite CryptoCash into circulation with 100% cash reserves or financial guarantees.  As a “matchmaker for cross-border payments” where we connect individuals, merchants, and businesses (“users") with exchangers, remitters, and traders (“service providers"), while providing technology platform for the issuance and underwriting of CryptoCash.

MEDICI Analysis

Everex (formerly known as Midas Rezerv) is a decentralized app built on bitcoin and ethereum blockchain. It helps to make payments and trading of financial products peer-to-peer by using digital tokens and smart contracts. The company provides three types of cryptocurrency tokens: MRshares, MRgold & MRmoney for securing assets.

Focus

PRODUCTS & SERVICES

Assets digitization platform Product categories: MRGold - Digitization of commodities MRShares - Shares of companies MRMoney - Equivalent of fiat currencies

REVENUE MODEL

cash out fees, merchant fees, lending commissions, smart contracts consulting

MAIN CLIENTS

Individuals

Small And Medium Sized Business

EXISTING PARTNERSHIPS

Bullion vaults

PRIMARY PROBLEM SOLVED

Access to financial services such as cross-border remittance, online payments, lending for un(der)banked (migrant workers, travelers, expats and SMEs) using blockchain technology.

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

company provided insights

Traction

ACTIVE USERS:

1200

ACTIVE USERS COMMENT:

First mobile friendly Ethereum based wallet for ERC20 tokens.

People

FOUNDERS

Alexi Lane

NUMBER OF EMPLOYEES

1-10

INVESTORS:

Chinese industrial conglomerate Holley Group

COMMENT:

Currently serving Thailand- Myanmar -,Russian markets for migrant workers,tourists on remittance.

Momentum

FUNDED

YES

TOTAL FUNDING

$500 K

DATE OF LAST FUNDING

Jul 2017

SEED & PRIOR FUNDING

$500 K

SEED CLOSED ON

Jul 2017

LISTED

NO

For Investors

FUNDING NEEDED:

$500 K

USES OF FUNDS RAISED:

1. Scale up IT

2. Marketing

3. Strategic partnerships

EXIT STRATEGY

going ICO (initial coin offering) where initial investors will have chance to exit

MONTHS LEFT WITH CURRENT CASH BURN RATE:

2 months from 4 Apr, 2017

COMPETITORS:

ABRA

Tether

Coins.ph

Remitly

BASICS

FOUNDING YEAR:

2016

LOCATION:

Singapore

Views:

125 VISITORS | 578 VIEWS
LATEST FUNDING ROUND

$500 K

About

Everex addresses cross-border payments and financial inclusion problems to help 2.5b of un(der)banked adults around the world with access to financial services.  Our solution is to place government backed currencies on [Ethereum] blockchain to create a new value transfer protocol, with primary applications being  - cross-border remittances (migrant workers)  - B2B X-border payments (importers/exporters)  - FX traders and brokers (deposit/withdrawals, clearing and settlement)  - online payments for high-risk merchant categories (airlines, travels, gaming, electronics, etc.) - government payment solutions (auctions, taxes, fees, subsidies, etc.)   We call such form of currency “cryptocash”, as this is something regular people recognize and understand.  CryptoCash is your money order on blockchain. Only licensed or authorized financial entities can underwrite CryptoCash into circulation with 100% cash reserves or financial guarantees.  As a “matchmaker for cross-border payments” where we connect individuals, merchants, and businesses (“users") with exchangers, remitters, and traders (“service providers"), while providing technology platform for the issuance and underwriting of CryptoCash.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

Everex (formerly known as Midas Rezerv) is a decentralized app built on bitcoin and ethereum blockchain. It helps to make payments and trading of financial products peer-to-peer by using digital tokens and smart contracts. The company provides three types of cryptocurrency tokens: MRshares, MRgold & MRmoney for securing assets.

Focus+
Momentum+
Traction+
People+
For Investors+
Other+

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Everex

About

Everex addresses cross-border payments and financial inclusion problems to help 2.5b of un(der)banked adults around the world with access to financial services.  Our solution is to place government backed currencies on [Ethereum] blockchain to create a new value transfer protocol, with primary applications being  - cross-border remittances (migrant workers)  - B2B X-border payments (importers/exporters)  - FX traders and brokers (deposit/withdrawals, clearing and settlement)  - online payments for high-risk merchant categories (airlines, travels, gaming, electronics, etc.) - government payment solutions (auctions, taxes, fees, subsidies, etc.)   We call such form of currency “cryptocash”, as this is something regular people recognize and understand.  CryptoCash is your money order on blockchain. Only licensed or authorized financial entities can underwrite CryptoCash into circulation with 100% cash reserves or financial guarantees.  As a “matchmaker for cross-border payments” where we connect individuals, merchants, and businesses (“users") with exchangers, remitters, and traders (“service providers"), while providing technology platform for the issuance and underwriting of CryptoCash.

Focus

PRODUCTS & SERVICES

1. Everex Wallet. P2P blockchain based wallet for acquiring, sending/receiving and withdrawals of national currencies. 2. Ethplorer.io - the Ethereum custom token viewer. 3. Chainy.link - immutable short URLS on blockchain, proof of existence and proof of content on blockchain

REVENUE MODEL

cash out fees, merchant fees, lending commissions, smart contracts consulting

TOP PROBLEM SOLVED

Access to financial services such as cross-border remittance, online payments, lending for un(der)banked (migrant workers, travelers, expats and SMEs) using blockchain technology.

PRODUCT DEVELOPMENT STAGE

COMMERCIAL LAUNCH

PRODUCT DEVELOPMENT COMMENT

https://play.google.com/store/apps/details?id=everex.transfer&hl=en

KEY DIFFERENTIATORS

Independent smart contract offering fiat currency backed tokens on blockchain for cross border payments and other financial services. API, and white label available.

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

Small and Medium Business - Physical Retail

Small and Medium Business - Online Retail

Consumer

PRODUCT ATTRIBUTES

SaaS

White label

People

FOUNDERS

Alexi Lane

NUMBER OF EMPLOYEES

1-10

KEY EMPLOYEES:

CEO, FOUNDER: Alexi Lane

CTO: Alexander Kakunov

TEAM COMMENT:

Currently serving Thailand- Myanmar -,Russian markets for migrant workers,tourists on remittance.

INVESTORS:

Chinese industrial conglomerate Holley Group

Momentum

FUNDED

NO

LISTED

NO

FUNDING SERIES