Ubank launches a platform, a peer-to-peer ecosystem that would help different users become investors thru selling real goods and receiving cryptocurrency in exchange.
Ubank team expands the business of the mobile payments app and launches Ubcoin Market. Every participant could either sell or purchase goods as an exchange for the cryptocurrency. The token sale is reviewed on reliable rating platforms such as foundico.com and icobazaar.com.
Ubcoin Market serves as a tool that bridges the gap between real and crypto worlds. Those who lack knowledge about blockchain can still become crypto investors in no time. While experienced members would have the right to spend their wealth even without fiat currencies conversion.
Ubcoin Market provides a solution for both objective and two clear-cut opportunities. The first one consists of billion digital citizens. Most of them have an eager interest towards cryptocurrency. However, their path has affected by many technological and legal barriers. Mining is costly and converting fiat money to cryptocurrencies is no doubt a burdensome process.
The other issue is faced by over 23 million cryptocurrency owners. These individuals are unable to spend all their crypto investments because of restrictions by some financial or governmental organizations.
Khachatryan, CEO at Ubank, said that if people are interested to sell goods, they have to be familiar where to go such as eBay, Etsy, and Taobao. He also added that the company does not compete with such platforms. Their main goal is to offer consumers a convenient solution to become crypto investors. That is why they have created a peer-to-peer mechanism.
He also said that once you put up goods for sale, whether it is a laptop, a clothing item or a car, sell it and change it to cryptocurrencies such as Bitcoin and Ethereum. This is what everything a user needs to do to become a true crypto investor. Moreover, people can purchase anything on Ubcoin Market via their crypto wealth without the risk of real money exchange.
Ubcoin Market will be incorporated in Ubank, considered the topnotch mobile payments app in the Eastern part of Europe. It has been pre-installed by Fly as well as Samsung on their smartphones. Since the launch in 2013, it has received a huge investment from Runa Capital Fund. It was approximately $8 million.
At present, the app has more than 2.5 million monthly users and has been downloaded by 16 million people in different parts of the world. Every year, it processes over 20 million transactions.
The team behind Ubcoin Market and Ubank encompasses of adept tech professionals, managers and marketing officers. This has been the reason why it has become successful and able to boost the cybersecurity investment.
After the launch of the Token Sale and MVP in Eastern Europe and Russia, Ubcoin Market has plans to unfold an expansion from the Middle East, South Korea, Latin America, to South-East Asia. At the moment, the company aims to target all individual users.