Ternio Closes Oversubscribed Round On Republic.co
Ternio has successfully finished its first equity crowd fund offering earlier this month. During the campaign held on Republic.co, Ternio managed to raise $1.07 Million from 3890 investors. Many investors were forced to join the waiting list following the sold-out round on June 13, 2020. Minimum investment was set at $100 with a valuation cap of $15 million.
Ternio is a global fintech platform built on blockchain. Ternio’s platform connects traditional enterprise, fintech, banking, systems with blockchain infrastructure giving real world utility to digital assets. Ternio’s white-label products enable instant remittance and the transfer of value on blockchain rails in a compliant and regulated environment. The company aims at creating products that increase the application of blockchain and cryptocurrencies in everyday life.
The funds raised on Republic are aimed at helping the company grow into new markets, launching new products, and adding staff. Last month, the company was able to launch a new product, FDIC insured checking accounts as well as “Crypto Back Rewards” at National Retailers when using BlockCard.
Many more features are planned for the coming months. Some of the products to watch out for include launching card access to residents in 31 European countries, followed soon after by 150 other countries. In addition, the platform will set up an avenue to offer loans to users with BlockCard accounts, full credit card utility, and additional banking features like savings.
Executing On Vision
In the last few years of operation, Ternio has managed to create various products. In 2018, we launched a scalable blockchain framework called Lexicon, followed by BlockCard in 2019. BlockCard is a debit card that allows people to make purchases using cryptocurrency. They can do so at over 50 million merchants globally. Since its launch, the card has become popular among users amassing a large dedicated community.
Ternio investors joined the project due to the vast rewards that they stand to benefit. For investing in the platform, investors were promised a 20% discount on capital valuation. Ternio products have immense market opportunities, including exchanges and banks. Some in the Ternio community are already experiencing a 6.38% crypto reward on every purchase they make using BlockCard.
Some investors invested in the platform to become White label partners. Some of Ternio’s white label partners include Litecoin Foundation, Veil, and DigiFox. Charlie Lee, the creator of Litecoin and Managing Director of the Litecoin Foundation, had previously stated:
“This is an exciting partnership for us as it furthers the Litecoin Foundation’s mission to create more use cases for spending Litecoin in everyday life. Leveraging Ternio’s BlockCard platform […] gives Litecoin holders unparalleled access to their LTC at merchants around the world.”
Ternio has shown great potential in changing day-to-day financial operations. The traditional banking systems have proven to be slow and expensive. Investors want to allow Ternio to change financial processes by creating more products and benefit from those changes long term.