TaaS · Follow
Published in · 4 min read · Jan 15, 2018
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January 14, 2018 — Kyiv, Ukraine — Token-as-a-Service (TaaS), the first-ever tokenized closed-end fund dedicated to blockchain assets, announced today its contribution of 500 ETH to the token sale of FuzeX, a system linking cryptocurrencies and traditional assets through a single payment solution.
FuzeX is a financial technology company disrupting the payment solutions industry with an innovative e-card. Through the revolutionary FuzeX system, cryptoassets, credit cards, debit cards, and rewards cards are integrated into a single smart e-card. The FuzeX Card offers real-time cryptoasset to fiat exchange rates. As part of the FuzeX Ecosystem, the FuzeX Exchange (or a third-party partner exchange) will accept various cryptoassets and pay issuers (who will then pay merchants) in local fiat currencies. This means that by using the FuzeX Card, customers can spend their cryptoassets anytime, anywhere.
FuzeX CEO, Andrew Bae, said “We are really grateful for the contribution by TaaS Fund. We’ve raised a total of 20,000 ETH during our Private Sale, and to have TaaS be a part of that is fantastic. We’re looking forward to working closely with TaaS in the future as we really value the team’s input and advice. The collaboration with TaaS helps us enhance the value we bring to our communities, and we are able to achieve wider adoption of cryptocurrencies in daily life.”
In order to bring the full vision and solution to market, FuzeX is launching its Token Generation Event (TGE). FuzeX’s Private Sale successfully raised 20,000 ETH. FuzeX’s Pre-Sale commences on the 15th of January, 2018 00:00 GMT. During the month-long Pre-sale, FuzeX is committed to reaching its hard cap of 40,000 ETH.
Ruslan Gavrilyuk, co-founder and President of TaaS, said, “The FuzeX team has already successfully brought to market over 30,000 Fuze Cards, which include a dynamic magnetic strip. The new FuzeX card also features cryptocurrency integration adding to its value as a premiere payment method. Contribution to this important project and adding its tokens to TaaS Fund’s portfolio will ultimately benefit us all.”
TaaS Fund’s contribution to FuzeX comes shortly after the two organizations entered into a partnership, wherein TaaS’ extensive network and knowledge of the crypto industry would be an invaluable contribution to FuzeX’s development. This agreement reflects the TaaS team’s high level of confidence in FuzeX and their new payment solution, linking blockchain assets and traditional financing, and driving much-needed interoperability.
This marks the TaaS Fund’s fifth Token Generation Event (TGE) contribution during the third fully-operational quarter, ending on Feb 1st, 2018. So far during this quarter, TaaS contributed 210 ETH to SmartOne, a marketplace for legal solutions for blockchain-based enterprise, 350 ETH to DMarket, the first cross-game platform on the blockchain, 350 ETH to DreamTeam, a blockchain-based all-in-one solution for Esports teams, and 300 ETH to Neuromation, the universal marketplace of neural network development.
During the second fully-operational quarter, ended on November 1st, TaaS contributed a total of 1 million USD(T) equivalent to 6 TGEs, generating capital gains of 5.5 million USD(T) equivalent and producing a 72% ROA over this time.
During the first fully-operational quarter, ended on August 1st, TaaS contributed a total of 3 Million USD(T) equivalent to 11 TGEs, generating a 61% ROA. The TaaS Token is currently trading on Livecoin, Orderbook, EtherDelta, HitBTC, Liqui, and CoinExchange at the price of 10.29 USD(T) equivalent per TAAS.
About FuzeX:
FuzeX is a secure, convenient electronic card with an EMV Chip. It holds up to 30 credit, debit, or gift cards, and can store up to 15 cryptocurrency accounts, 10 credit or debit cards, and 5 reward cards all in one e-card. Real-time exchange rates allow users to spend cryptocurrency anytime, anywhere. Two-factor authentication, loss prevention, and an on-card keycode offer users the peace of mind to spend securely. FuzeX’s simple mobile wallet app allows users to cycle through cryptocurrency, debit, credit, and reward accounts on an E-Paper display to select their preferred method of payment. The FuzeX card even has Bluetooth location services, so users may be able to find a lost card. As part of the indiegogo.com Team Favorites collection, the FuzeX campaign raised more than $2.3M USD on July 13, 2017, far surpassing its funding goal by 4310%. The FuzeX Pre-Sale begins on January 15, 2018. For more information, please visit: https://www.fuzex.co
