olivecarens: NUMONEY

Numoney is a retail store located near the MRT station. They offer over the counter (OTC) service for cryptocurrency purchases and now they are looking to start their own online exchange (Gemini & Binance hybrids). They are looking to raise funds for exchange of liquidity through Initial Exchange Offering.

Numoney was started by a group of Singaporeans who saw problems in the cryptocurrency scenes in Singapore and Southeast Asia. Beginning in November 2017, within a span of four months, the company's turnover exceeded S $ 2.5 million, highlighting the demand for cryptocurrency in the Southeast Asian market. This significant turnover has resulted in the marking of their bank account (mainly due to high volume of deposits and withdrawals). In the long run, OTC services become unsustainable in the view of developers.

The problems facing Numoney are not unique to themselves. Banks throughout Southeast Asia and Singapore have not been very appreciative of cryptocurrency startup even though DPM Tharman approves cryptocurrency at our little red dot.

http://www.straitstimes.com/business/companies-markets/tharman-no-strong-case-yet-to-ban-cryptocurrency-trading-in-spore

Who is the current NuMoney Exchange Support Partner?

Thomas Chan, former chairman of Goldman Sachs Asia, and CEO of Golden Summit Capital.

NuMex Sdn Berhad is headed by Businessman Ong in Malaysia.

Andika Sutoro Putra in Indonesia.

Partner details: https://exchange.numoney.store/docs/partnerships

When is NuMoney Exchange launched?

The exchange will take place any time in March 2018. After that, there will be an IEO (Initial Exchange Offer) - NuMoney Token (NMX). For more information about IEO tokens that will start soon after the exchange takes place. See the steem link below.

https://steemit.com/bitcoin/@kohjohnson/numoney-initial-exchange-offering-ieo

Good News for Crypto Investors and Traders in Southeast Asia

Since investing in cryptocurrency nearly a year ago, I have been using Gemini and Binance Exchanges to facilitate my transactions. The process often takes at least two days. To buy cryptocurrency, I will transfer my SGD funds to the US-based Gemini exchange, make transactions for big coins like Ether, withdraw the crypto currency to Binance exchange, and buy my preferred altcoin. From there I will transfer the coins to the cool wallet, or liquidate them for transfer back to my SG account. Over time, I find this rambling process complicated and expensive, especially if I move with very large or very small funds. When I heard about the NuMoney Exchange, I started to see the value brought by this startup to the local crypto.

The NuMoney Exchange Advantage

With direct fiat-in and fiat-out options, NuMoney Exchange operates the same as the US-based Gemini Exchange. Unlike Gemini, however, NuMoney Exchange offers a variety of altcoin pairs, which means that users are constantly trying to pull main coins into third-party exchange like Binance. It also offers cold and hard wallet storage for coins.

The presence of physical stores also eliminates waiting times for customer verification that users are subjected to traditional cryptocurrency exchanges: local users can immediately verify their identity in NuMoney's physical office when they open their accounts, deposit their cash and start trading instantly, while international users can deposit cryptocurrency and trading immediately when verifying the account simultaneously. For crypto traders who want to get through the hassle of handling barriers imposed by banks and third party exchanges, this option is very feasible and attractive

Cash saved by a user with NuMoney will be stored physically in a high safe. The team idea behind this is to avoid situations when account closure by institutional banks takes place, causing customers to have problems with illiquid assets. Maintaining a constant flow of liquidity is the main philosophy for NuMoney exchange.

NuMoney welcomes input from government regulators and dialogue with the Monetary Authority of Singapore (MAS) on solutions to implement pragmatic policies for cryptocurrency trading. Since they are not stock exchanges, there is no requirement for a license for them to operate at this time. Government regulators in Singapore are open to developments in blockchain and cryptocurrency as long as they comply with the requirements of Anti Money Laundering / Fighting Financing from Terrorism, as described in statements and responses released from MAS.

Overall, the NuMoney system is set to allow for an efficient, hassle-free and fun trading process for cryptocurrency.

What makes NuMoney Exchange Unique

Instant KYC verification in brick-and-motar outlets, where hardwallets are also available for purchase
Eliminate traditional barriers imposed by banks and crypto exchange
Various altcoin pairs in exchange
In talks with government regulators to implement solutions for cryptocurrency trading

NuMoney's location

Headquartered in Singapore, NuMoney is looking to open a second branch locally
Plans for expansion into neighboring areas in Malaysia, Indonesia and finally the Philippines.

NuMoney Exchange Launch

Early ETH / SGD pair
Followed by a pair of ETH / NMX for token sales
In the end it offers a partner with BTC, LTC, XRP and XMR

Sales of NMX Token

The NMX Token is an ERC20 utility token intended to be used as a replacement transaction fee on NuMoney Exchange.

Token offers a discount payment method because it lets users pay 3 times of their own value in cost.

A total of 1,000,000,000 NMX tokens will be printed. Each token is priced at $ 0.01, bringing sales to the soft hat for $ 10,000,000 US.

Initial Exchange Offering (IEO)

After the exchange launch, token sales will be made through Initial Exchange Offering (IEO) for 30 days. Users can purchase NMX tokens through ETH / NMX pair.

How to participate in IEO NuMoney

Subscribe to our mailing list, and join our IEO telegram group
Users will store their ETH into exchange. ETH can be purchased first through NuMoney's physical store.
On the IEO launch date, the token will be sold directly to the buyer, and can be directly traded on the exchange. Purchase orders must be submitted to purchase NMX tokens with your ETH.
The first 3 days of token sales will be exclusive to whitelisted members with the largest number of ETHs held on the exchange before the IEO. Whitelisted members will enjoy discounted NMX / ETH rates. After exclusive sales, token sales will be open to the public.

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