Smart Token Chain

blockchain

FOUNDING YEAR: 2013
LOCATION: United States
Last Update: 08/09/2020

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About

Patent-pending Smart Tokens combine smart contracts, tokenization and blockchain; unifying financial services around common ISO messaging standards, improving inefficient settlement for P2P and B2B payments. STC is launching new services with a growing base of strategic global partners: MasterCard, Ripple, and the World Council of Credit Unions (WOCCU). Each Smart Token is unique, embedding counterpart identities and invoice data for transactions across multiple asset classes. STC derives revenue from licensing, transaction fees and foreign exchange (FX) arbitrage. Smart Tokens power new P2P applications, including cross-border P2P lending and an “Uber of Banking” model named the Trusted Agent Network (TAN) co-branded with our global partner network.

MEDICI Analysis

Patent-pending Smart Tokens combine smart contracts, tokenization and blockchain; unifying financial services around common ISO messaging standards, improving inefficient settlement in P2P and B2B markets. STC is launching new services with a growing base of strategic global partners: MasterCard, Ripple, and the World Council of Credit Unions (WOCCU). Each Smart Token is unique, embedding counterpart identities, transaction and invoice data for multiple asset classes. STC derives revenue from licensing, transaction fees and low-risk foreign exchange (FX) arbitrage. Smart Tokens power new P2P applications: Cross-border P2P Lending and “Uber of Banking” Trusted Agent Network (TAN), co-branded with our global partner network.

Focus

PRODUCTS & SERVICES

Smart Tokens create a highly efficient and scalable business model by significantly reducing FX clearing timeframes/cost, enabling mobile service delivery and embedding next-generation identity verification into every transaction exceeding regulatory and payment security standards. For consumers, P2P Cash remits cash directly to the recipient’s bank/mobile account instantly at NO cost. Smart Tokens create new P2P opportunities for low-cost 3rd world P2P Lending. For corporations, Smart ISO Tokens embed “Smart Contract” instructions and compliance information automating the clearing process for instant settlement. The ISO Standard builds a “Bridge to Blockchain” for existing settlement practices and can unite multiple blockchain formats using these global ISO 20022 standards.

REVENUE MODEL

Free can be very profitable. P2P derives revenue from Foreign Exchange (FX) arbitrage. Buying currency at interbank rates and delivering at retail rates to businesses and consumers.

PRIMARY PROBLEM SOLVED

Settling any financial transaction is complex, opaque and time consuming. Based upon global ISO Standards, Smart Tokens use blockchain encryption methods creating a transparent chain of asset ownership transfer compatible with existing processing networks and designed to integrate to any future blockchain architecture.

INTELLECTUAL PROPERTY

Patent(s) FILED

Traction

REVENUE

$0 - $99k in 2016

REVENUE COMMENT:

Revenue is expanding organically with no marketing budget

NUMBER OF TRANSACTIONS:

400.00 in 2016

TRANSACTIONS COMMENT:

Our average transaction has grown from $150 to over $300 as our customers grow more comfortable with a "Free" money Transfer service

ACTIVE USERS:

350 Million in 2016

ACTIVE USERS COMMENT:

I am impressed with your service and the ability to send cash directly to my family's bank account. Best of all is the price!

People

BOARD MEMBERS AND ADVISORS

Leonard Schrank

Brian Smith

Rod Martin

NUMBER OF EMPLOYEES

1-10

KEY EMPLOYEES:

Juan Soto

COMMENT:

We've assembled a world class team with over a century in FinTech development, marketing,Wall St. experience. Several team members have degrees from Harvard Business School,Stanford.

Momentum

FUNDED

NO

LISTED

NO

EXIT STRATEGY

buy out by VISA, Western Union, Paypal

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Smart Token Chain

About

Patent-pending Smart Tokens combine smart contracts, tokenization and blockchain; unifying financial services around common ISO messaging standards, improving inefficient settlement for P2P and B2B payments. STC is launching new services with a growing base of strategic global partners: MasterCard, Ripple, and the World Council of Credit Unions (WOCCU). Each Smart Token is unique, embedding counterpart identities and invoice data for transactions across multiple asset classes. STC derives revenue from licensing, transaction fees and foreign exchange (FX) arbitrage. Smart Tokens power new P2P applications, including cross-border P2P lending and an “Uber of Banking” model named the Trusted Agent Network (TAN) co-branded with our global partner network.

Focus

PRODUCTS & SERVICES

Smart Tokens power the underlying platform behind P2P Cash's international remittance platform. This innovative technology creates a competitive advantage by reducing FX clearing timeframes/cost, enabling mobile service delivery and embedding next-generation identity verification into every transaction exceeding regulatory and payment security standards. For consumers, P2P Cash uses Smart Tokens to remit cash directly to beneficiary bank/mobile account instantly at zero cost. Additionally, Smart Tokens create new opportunities for low-cost P2P lending in developing markets. For corporations, Smart Tokens' ability to embed smart contract instructions and compliance information automates the clearing process for instant settlement based upon customized triggers. By leveraging ISO-based Smart Tokens we built the “Bridge to Blockchain” for existing settlement practices and can unite disparate blockchain formats using these global ISO 20022 standards.

REVENUE MODEL

Free can be very profitable. P2P derives revenue from Foreign Exchange (FX) arbitrage. Buying currency at interbank rates and delivering at retail rates to businesses and consumers.

TOP PROBLEM SOLVED

Settling any financial transaction is complex, opaque and time consuming. Based upon global ISO Standards, Smart Tokens use blockchain + encryption creating a transparent chain of asset ownership transfer compatible with existing processing networks and designed to integrate to any future blockchain architecture.

PRODUCT DEVELOPMENT STAGE

COMMERCIAL LAUNCH

PRODUCT DEVELOPMENT COMMENT

For the past year, Smart Tokens have been integrated into a joint venture with the largest retail bank in Africa . This permits US citizens to send cash directly into any bank account or mobile wallet in Kenya. P2P Cash now offers Free Money Transfer to seven countries with 70+ more countries under contract with distribution partners like Mastercard and Ripple.

KEY DIFFERENTIATORS

Smart Tokens reduce money transfer costs to offer Free Money transfer to over 2 billion bank and mobile accounts. Smart Tokens are compatible with any processing network including SWIFT and MasterCard.

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

Small And Medium Business - Other

Consumer

PRODUCT ATTRIBUTES

SaaS

White label

Customer facing

Other

STRATEGIC CLIENTS AND PARTNERSHIP

Equity Bank : Joint Venture

Ripple : Expanded reach for payments disbursement

Mastercard : Global connectivity to mobile and bank accounts via HomeSend platform

Ethereum : ERC20 compatible tokens and wallet infrastructure

Traction

ANNUAL REVENUE:

$0 - $99k

REVENUE COMMENT:

Revenue is expanding organically with no marketing budget

NUMBER OF TRANSACTIONS:

400.00

TRANSACTIONS COMMENT:

Our average transaction has grown from $150 to over $300 as our customers grow more comfortable with a "Free" money Transfer service

ACTIVE USERS/ACCOUNTS:

350 Million

ACTIVE USERS COMMENT:

We have consumer testimonials that support the value we are bringing to their lives. We need capital and strategic partners to make our message heard across the world!

LIVE USERS/TRANSACTIONS:

Yes, in live production

How will you grow the number of users/accounts/transactions?

We are launching nationally next quarter. Plus we are adding the single largest money transfer corridor globally: USA to Mexico

CHANNEL STATUS

MULTIPLE CHANNELS

NUMBER OF CLIENTS OR PAYING CUSTOMERS

350

People

NUMBER OF EMPLOYEES

11-50

TEAM COMMENT:

We've assembled a world class team with over a century in FinTech development, marketing,Wall St. experience. Several team members have degrees from Harvard Business School,Stanford.

Momentum

FUNDED

YES

FUNDING COMPLETED

NO

LISTED

NO

FUNDING SERIES
Seed
Jul 2017
USD2.5 M
at a USD15 Mvaluation
Comment on Seed
Family, friends and my network as the founder has been the sources of all seed capital raised to date

Comment on Valuation

We have not take institutional capital at a priced round yet but $15M pre-money is the target Series A valuation