LONDON, July 31st, 2019 — Financial technology company BABB is delighted to announce the listing of its crypto token BAX on CoinTiger, a leading Singapore-based cryptocurrency exchange.
The BAX listing, targeted on the 6th of August 2019, will facilitate the expansion of BABB’s core product into Southeast Asia. CoinTiger currently has in excess of 2.1 million users and services in more than 120 countries worldwide, with a significant presence in Asia.
The initial listing on CoinTiger will allow BAX tokens to be exchanged with Ethereum and US dollars (Tether). Depending on the token’s trading performance on the exchange and subject to stakeholder feedback and user demand, more trading pairs will be progressively introduced.
The listing of BAX on CoinTiger will drive further adoption to new markets such as Asia, North America, Africa and Europe, and equally importantly, enhance trading volumes by enabling microtransactions in popular trading pairs. Additionally, the listing is aimed at reducing transaction costs by fostering greater liquidity into the BABB ecosystem.
BABB issued BAX as an ERC-20 utility token (a technical standard used for smart contracts on the Ethereum blockchain) in 2018. The token is integrated into the core transaction processes within the company’s financial technology offering, serving as a key value driver for customers. The token aims to facilitate global fundraising, instantaneous money transfers and spending via linked debit cards.
BAX aims to play a key role as one of the trusted underlying monetary instruments that facilitates borderless payments and allows ease in cross currency exchange, initially with major fiat currencies such as Euro, US dollar, British pound, and then with other currencies, aiming to benefit the microeconomies that suffer from restrictions in international trade and exchange due to the high costs of cross currency transactions.
By integrating BAX into CoinTiger, BABB will be able to deliver an array of services that have a tangible social impact, including the ability for users to raise capital, improve liquidity for fundraisers and donors, allow scalable micro-transactions and micro-donations that are volume agnostic.
The BAX listing on CoinTiger is a direct step towards generating greater cross connectivity between BABB’s token and other currencies on a global scale while expanding the existing set of features available for BABB’s existing users via the company’s proprietary app.
BABB is committed to provide the best trading conditions in collaboration with other top-tier exchanges and is currently in negotiations with multiple vendors to further expand its operational coverage globally.
BABB is building a decentralised banking platform and aims to deliver peer-to-peer banking services designed to serve the global microeconomy. Its platform allows all BABB customers to be connected via a global network, enabling everyone to leverage their social connectivity in new ways to trade and make payments.
The BABB technology aims to connect fundraisers with donors and facilitate exchange operations in order to develop a greater suite of banking services.
Blockchain technology underpins BABB’s core services that include recording of transactions and storing of digital identity, creating a secure channel for data sharing mechanism that supports efficient execution of transactions across the network.
BABB is working towards a future where banking will not anymore create a hindrance to access, especially to the billions of ‘unbanked’ and ‘underbanked’ people across the globe. BABB is determined to become the World Bank for the microeconomy, starting its offering with global fundraising technology that is fully transparent via a traceable ledger. BABB will subsequently move into frictionless currency-agnostic payments platform, with the ultimate aim of becoming a fully regulated bank.
Disclaimer: BABB is not yet regulated as a bank, but we are applying to become one.
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