About

TenX Token is the rewards token for the TenX cryptocurrency wallet application and payments card developed by TenX, a Singapore-based blockchain company focused on improving the spendability of cryptocurrencies. The TenX allows users to make every-day purchases and withdraw money using their TenX Card paired with the TenX Wallet app. TenX Token is a rewards token circulated to TenX users and PAY Token holders (the utility token native to the TenX wallet).

History

The TenX Product Suite consists of the TenX Card, TenX Wallet, TenX PAY Token and TENX Rewards Token. The card and wallet allow users to spend their cryptocurrencies in a simple and safe way, at more than 40 million points all around the world. The PAY Token is a work-in-progress loyalty program which, in the future, will reward token holders for spending cryptocurrencies using the TenX Card. This will be in addition to future utilities including loyalty benefits and and being integrated within the TenX Wallet as a mode of payment. The TENX Rewards Token is an ERC-20 rewards token on Ethereum with features of ERC-1400. TENX Token holders are rewarded with PAY Tokens based on the company’s financial performance and other relevant factors.

TenX co-founders met at a blockchain meetup in Bangkok in 2014, and founded TenX in June 2015 after winning a Hackathon contest in Singapore following a startup boot camp supported by PayPal. The company was originally called OneBit, as it was focusing only on Bitcoin.

The co-founders of TenX noticed issues when trying to remit money overseas and believed that blockchain technologies and cryptocurrency payments are the way of payments in the future. They started the company with a vision to have assets on the blockchain, available not only to industry insiders but to any user in the real world. With the emergence of more and more different tokens, a growing number of users and businesses truly struggle to leverage the existing blockchain infrastructure. TenX focuses on making the interconnectedness of physical and virtual platforms a reality.