InWara - ICO Database, ICO review, Security tokens and more

UNIFOX STO: Mastercard of crypto space!

All you need to know about Unifox STO and its strategic partnerships

 

Unifox STO: All you need to know about Unifox and its strategic partnerships

 

Unifox aims at enabling mass adoption!

 

Unifox, a Czech company with ambitious aims of enabling mass adoption of cryptocurrencies and blockchain technologies in the real world, the startup hopes to achieve this through its multifaceted ecosystem. Interestingly, Unifox claims to have a global outreach with access to over 6,000 ATMs and over 50,000 POS terminals.

 

Unifox partners up with Electra: Partner to win?

 

Mass adoption of any new technology is not a radical instantaneous process but instead requires a multitude of intermediary steps. One of the key beginning steps in the right direction is easing the public into change. One such strategic move is Unifox’s strategic partnership with like-minded startups.

 

A good example of this would be Unifox’s partnership with Electra, a peer-to-peer payments coin. This partnership entails direct listing of Electra coin on Unifox ATMs and POS terminals. Electra01, the founder of Electra project was quoted saying “Unifox is an interesting partnership that will eventually make Electra one of the rare cryptocurrencies that can be usable via credit card to purchase almost any real-world goods and services.” Easy conversion of fiat into crypto and vice-versa will be critical if cryptocurrencies are to become a serious contender in the global financial ecosystem.

 

Strategic partners 

 

Unifox has managed to onboard several strategic partners like Electra, among 18 other startups to their platform. Some of the more renowned companies include Achain, which aims to build a global blockchain network; and Phore which aims to enable value transactions across a secure, scalable and flexible system.

 

According to InWara’s ICO+STO database, Unifox raised $2.5 million in their pre-sale funding round, while the main-sale dates are yet to be announced. Interestingly, Unifox has a surprising combination of security features, utility tokens and its own Blockchain technology. 

 

Ambitious goals of global expansion

 

Unifox is a multifaceted cryptocurrency platform that quite literally aims to be the Mastercard for cryptocurrencies. The company ecosystem is basically comprising of five autonomous segments, involving a network of kiosks and POS terminals, online exchange offices, Unicash and a decentralized exchange. Unifox hopes its platform can help bridge the gap between fiat and cryptocurrencies.

 

Unifox Platform features

 

Unifox ecosystem aims to be a one-stop shop for all solutions needed for the smooth transition into the crypto market, where users can utilize various digital tokens as easily as using fiat.

 

The ecosystem includes features such as-

 

Multifunctional Kiosk

Probably Unifox’s most interesting feature, these ATM’s will be able to deposit and withdraw cash from any cryptocurrency, bank, exchange or wallet. It will also provide banking features such as requesting loans, insurance and also enabling money transfer. Users may also be able to pay utility and services bills through this feature.

 

POS terminals

 

Certified terminals that will be able to accept digital tokens as payment for goods and services.

 

Unicash

 

Aims to bring maximum liquidity, security and stability to the crypto market space. It is the stable currency wrapped around the Unifox ecosystem.

 

Online exchange office

These are websites which provide the option to exchange tokens from bank to wallet and vice-versa.

 

Unifox exchange 

 

Will be launched as a centralized exchange and will eventually migrate to one of decentralized nature. Unifox exchange also doubles as a universal crypto wallet.

 

Competition on the horizon for Unifox 

 

Despite Unifox’s ambitious plans and company vision, there are many players in the financial services domain trying to provide solutions to some of the same problems. A good example of this would be PundiX, this Indonesian startup also shares the same vision as Unifox. 

 

The company offers a point-of-sale (POS) solution, where users can buy and sell products, services, and cryptocurrencies at physical stores. The PundiX ecosystem consists of the PundiX mobile app; PundiX card, a physical multi-currency wallet for fiat and cryptocurrencies; and the PundiX platform, a software/hardware stack for POS solutions. The company is considered as a serious player in the East Asian crypto market space, where it has begun to implement POS terminals in local shops and stores.

 

# of ICOs according to industry sector

number of ICOs according to industry sector
Source: InWara’s ICO+STO database

 

According to InWara’s ICO+STO database, the number of ICOs in Financial services industry skyrocketed in 2018 to 279, compared to 121 ICOs the previous year. Financial services are one of the most competitive markets in the crypto space, largely due to entrepreneurs realizing the massive potential for growth in this sector.

 

# of ICOs vs Failed ICOs according to industry sector

number of ICOs vs Failed ICOs according to industry sector
Source: InWara’s ICO+STO database

 

According to InWara’s ICO+STO database, 414 ICOs were successfully able to raise sufficient amounts for their projects, and only 52 ICOs failed to do so. This is akin to a failure rate of 12.5%, lower than the industry average of 15.5% indicating the appetite of the market for the sector.

 

STOs are picking up where the ICOs have tapered

 

As government regulations worldwide starting restricting ICO sales, crypto enthusiasts and entrepreneurs were forced to look for a viable replacement that can thrive in this hostile environment, and STOs seems to be the solution that is being adopted. Last year saw ICO numbers taper while STO observed a massive surge.

 

Security token offerings (STOs) according to industry in the USA

Security token offerings (STOs) according to industry in the USA
Source: InWara’s ICO+STO database

 

According to data compiled by InWara, of the 91 STOs in the USA, Financial Services was leading with allied sectors such as Trading and Investments also in the top 5. 

 

“The Security Token Ecosystem continues to grow significantly”, said Sushrut Gaikwad, Director at InWara, in HCX’s Crypto Summit (UK) last week. “USA seems to be the early leader because of the mature processes in place for filings with SEC. Clear filings allow for easy classification of securities for firms like InWara to bring value as our analysts can course through these documents faster and bring out actionable insights.”

 

Download InWara's Trending Research Reports

  

STO performance report: STOs going strong with success rate of over 90%

 

Annual Report 2018: Crypto crash affects private funding in 2018

 

Monthly Report Jan 2019: STOs going strong despite the Crypto winter