Blockchain Finance App Change Integrates Kyber Networkbr>
Blockchain-based mobile finance app Change has teamed with Singaporean digital asset platform Kyber Network to allow its users to exchange cryptocurrencies.
Change is a mobile app that aims to become a one-stop decentralized platform for all things finance. Since its inception in 2016, it has attracted funding and support from major FinTech companies and financial institutions. Change also partnered with the government of Estonia to launch the world’s first e-Residency project, thereby broadening its services to more than 22,000 global participants.
Kyber Network is a new system which allows the exchange and conversion of digital assets. Using its payment APIs, users can send one token to a recipient who wishes to receive the payment in another token in a single transaction. Users can also mitigate the risks of price fluctuations in the cryptocurrency world with the company’s derivative trading. In September, The company announced that its initial coin offering (ICO) reached its full funding cap of 200,000 ETH, worth about $60 million at an ethereum price level of $300.
Change said the rise of cryptocurrencies has led to an explosion of new ideas and services on the market that, while beneficial, can be extremely disorienting for users. The company has developed a platform to bundle all of these financial services in order to reduce barriers to entry and hence increase blockchain adoption.
The company said the key features of the platform include the Change Wallet for storage and management of popular cryptocurrencies, such as bitcoin, ether, Litecoin, as well as ERC-20 tokens; the Change Card for day-to-day transactions using cryptocurrencies; advanced know-your-customer (KYC) capabilities that enable express on-boarding of users anywhere on the globe; and an online investment marketplace where users connect to finance loans, buy stocks, cryptocurrencies, insurance, and even real estate.
Kyber’s protocol will be integrated to the Change Wallet to allow more users to exchange ERC-20 tokens. The integration will allow Change customers to use Kyber’s on-chain conversion services to send and receive different cryptocurrencies without ever leaving the wallet or using any other interface, allowing for simple portfolio management.
Kyber said the partnership will help them attract more users to test and enhance its protocol and, at the same time, support Change in its bid to build an all-inclusive financial services platform.