Bnext Receives Additional $4.5 Million Investment, Led by Borderless Capital To Drive DeFi on Algorand

Bnext Receives Additional $4.5 Million Investment, Led by Borderless Capital To Drive DeFi on Algorand

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May 12, 2022 – Madrid, Spain


Bnext announces a total investment of $10 million, as the Spanish fintech giant prepares to complete its token sale.

Borderless Capital has increased its investment in Spanish fintech Bnext to $10 million with a new investment of $4.5 million.

What this means for Bnext

This latest investment will help further Bnext’s goal to continue introducing bleeding-edge financial technologies throughout 2022 and beyond. Borderless Capital will not only provide financial support but also offer invaluable expertise in the Algorand blockchain ecosystem, which will help Bnext accelerate the development of its numerous financial products and drive the adoption of DeFi technology on a global scale.

Algorand and Bnext

The Algorand blockchain offers numerous technological benefits including faster transaction speed efficiency, lower fees, no mining requirements and a permissionless pure proof-of-stake (PPoS) approach to consensus, to name a few. Bnext has already leveraged Algorand to power its wallet app and is developing several more use cases for the future.

Private IDO for Algorand community 

To show support for the Algorand community, Bnext will be reappropriating 350 million B3X tokens for a private IDO, launching on a leading Algorand DEX soon. These tokens represent all that remains from phase two of the initial B3X token sale.

In addition to the IDO allocation, all Algorand community members who participate and hold tokens on the DEX will have priority access to new functionalities and other benefits. Information on the IDO will be released on Bnext’s social media channels in the coming weeks.

Bnext public token sale raises over $5 million

Bnext partially closed its public token sale on March 31, 2022, successfully raising over $5 million. The token sale spanned two seven-day phases across March. Phase one saw participants buy 360 million B3X utility tokens in the first few hours, and another 15 million were purchased in phase two. The remaining B3X tokens from phase two, after the expected IDO, will be burnt to increase liquidity.

The token sale has thus far collectively raised $11 million, with Bnext reserving the last remaining tokens for a private IDO for the Algorand community.

B3X token utility 

The B3X token is a utility token that underpins the entire Bnext ecosystem, whose mission is to bring financial freedom to a global community of banked and unbanked by expanding access to a growing selection of next-generation financial tools and remaining committed to continuously improving the user experience.

The continued support from Borderless Capital will help Bnext to strengthen its growing community and bring more value to users through international expansion. Forthcoming products on the Bnext roadmap include a robust reward system, a diversified marketplace, the crypto wallet app with buying and selling conditions, international money transfers, user discounts and more.

To learn more about how more people are taking back full control of their finances, visit the Bnext website.

About Bnext

Bnext is one of the first Spanish fintech giants and a pioneer as an alternative to traditional banking. The company’s mission is to make it easier for people to control their money in order to live it in a freer, simpler and more intelligent way.

Bnext links 

Telegram ESP | Telegram ENG | Instagram | Twitter | LinkedIn | Facebook

Bnext app

App Store | Google Pay

Algorand links

Twitter | LinkedIn | Facebook | Telegram | Medium | Discord

Borderless Capital links

Twitter | LinkedIn

Bnext is the source of this content. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

Contact

Marta Bnext

This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.

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