Crypterium – blockchain startup that offers instant payments with cryptocurrency for everyday purchases. Crypterium has been named among “Emerging 50 Rising Stars” in Fintech by KPMG and H2Ventures, Top 50 Digital Only Banks Ranking 2017 compiled by Financial IT, and Top-5 most promising coins of 2018 by CCN.

• 1 Crypterium Review
  • 1.1 History
  • 1.2 Team
• 2 Mobile Application
  • 2.1 Technical description
  • 2.2 Licences
• 3 External links
• 4 See Also on BitcoinWiki

Crypterium Review

Crypteirum is building a mobile app that lets it’s users pay with cryptocurrency at 42 million NFC terminal worldwide, via scanning QR codes, or online. Users can get a virtual card in the Crypterium App, link it to Apple Pay or Android Pay, bind it to their crypto accounts, and pay with it with the same ease as with cash and bank cards. On the background, Crypterium instantly exchanges users’ cryptocurrencies to merchants currency. Crypterium App also allows its users to receive, transfer and exchange different currencies, including cryptocurrencies.

In 2018, Crypterium was named among “Emerging 50 Rising Stars” in Fintech by KPMG and H2Ventures. The report compiles a list of the years best fintech innovators from around the world. It highlights truly innovative companies, creating products and services at the juncture of technology and financial services who are seeking to disrupt the existing processes and products that dominate the marketplace, with fintech companies from 36 countries featuring in this year’s list.

Crypterium has also been recognized as one of Top 50 Digital Only Banks Ranking compiled by Financial IT in 2017.

Crypterium’s token – CRPT – has been named in “Top-5 most promising coins of 2018” by one of the most reliable cryptocurrency news outlets – CCN. According to the article, Crypterium has a vast user base of over 400,000 registered individuals, and an experienced team led by the former CEO of Visa UK Marc O’Brien, who also was a principal advisor of Revolut, UK’s first digital bank unicorn.

History

Crypterium has been building the platform to launch its crypto banking services since 2013. Back then, Crypterium built the first mobile payment solution based on QR scanning in Eastern Europe and raised over $1 million in a Series A financing round. In 2015, Crypterium established over 300 integrations with e-commerce retail services, and successfully raised another $7 million in Series B financing round. In the beginning 2017, Crypterium started building a direct interbanking debit protocol to lower transaction fees, and integrating cryptocurrencies into the existing payments infrastructure. In October 2017, Crypterium launched a token sale that became one of the most successful ICOs of all time. The company has successfully raised over $51 million becoming one of the world’s largest ICOs based on the number of token holders (over 60 000 people internationally).

Team

Crypterium is management team is made up of C-suite executives with worldwide experience in some of the most innovative FinTech companies. Many of the team has spent their entire careers developing digital payment and banking solutions.

Steven Parker — CEO, former General Manager of Visa. Steven has held leadership roles in blue-chip companies across the globe, like RBS, HSBC, Holiday Inns etc.

Austin Kimm — COO and co-founder, has built companies with a current valuation in excess of $500 million. He has also held several international CEO positions in Australia, Czech Republic, Ukraine and Russia. He was Group CEO at Renaissance Insurance Group, CEO at Aviva (Czech Republic), Group Head of Strategy at Norwich Union (Australia), Director of Strategy at the International Division of CGU (UK), CEO at Workle.ru.

Rafael Carrascosa — Vice President, Global partnerships. Banking and Payments executive and business entrepreneur with over 25 years of experience in Financial Services, FinTech and Consulting business in multiple regions and cultures of the world.

James Davies — CFO, is an experienced financial technology and derivatives markets expert. Previously he held the position of COO of London Derivatives Exchange. Mr. Davies was appointed as Chief Financial Officer at Crypterium in April 2018.

Niki Akhurst — Partnerships Director, is a payments and financial services expert with over 15 years of experience in a range of global and local business entities and organizations. Industry Awards judge and EPA Board advisor.

Emily Baum — Partnerships Director, is a payments innovator with over ten years experience specializing in the prepaid sector with particular experience in Europe.

Mike Mahoney — Treasury Manager, is managing risk, liquidity and execution for over 25 years in interest rates, FX and money markets.

Axel Tillmann — joined the Crypterium team to lead our development in the USA. Axel brings close to three decades of leadership experience to the table, having directed numerous startups to and through successful exits, which also allowed him to gain a wealth of experience dealing with publicly held firms.

Pavel Ivanov — CTO, Executive technology leader with over 15 years of experience in building large-scale processing centers and developing software for high-loaded platforms.

Crypterium’s board of advisors is comprised of such industry veterans as TechCrunch’s founder Keith Teare, Blockchain Law Group’s founder Katrina Arden, and Global Payments Gateway’s CEO Hosni Emam

Mobile Application

Crypterium builds apps for iOS, Android and Windows Phone smartphones. The app allows instant payments in cryptocurrency using existing payments infrastructure, such as NFC terminals, online payments or QR codes. As most of cryptocurrency wallets, Crypterium App allows its users to receive, store, exchange and send different coins and tokens. In 2018, Crypterium run the fastest crypto transactions in the world. The app allows its users to transfer any amount of cryptocurrency using not the complicated wallet addresses, but simply the recipient’s phone number. Those transfers happen simultaneously, and the company claims it can process up to a million transactions per second, solving blockchain’s scalability issue.

Crypterium App also enables its users to buy cryptocurrencies with traditional money (from bank accounts and cards), and cash cryptocurrencies out by sending them directly to bank accounts. This feature also allows the App users to pay bills, taxes and loans with cryptocurrencies. Within the App users can also top up their mobile phones, and replenish Viber, Steam and Skype vouchers with Bitcoin. New features, like cryptocurrency deposits, loans, salary accounts etc., are estimated to be built in 2019.

Technical description

Crypterium aims to provide an instant processing engine for both fiat- and crypto-based currency transactions while enabling interchangeability between the two. Crypterium uses NFC HCE (host card emulation) protocols to tokenize the data on the virtual payment card. Crypterium has issued CRPT tokens that are used as “fuel” for performing transactions with Crypterium app. Every time someone makes a payment using Crypterium app, a fee equal to 0.5% of the value of the transaction in CRPT is taken from user’s account and burned as fuel. This means the number of tokens will be reducing over time. CRPT is trading on KuCoin, Liquid and HitBTC. During the token sale Crypterium issued 99,983,677 tokens before reaching the hardcap designated in the White Paper. 70% of this amount went to those who bought tokens during the ICO, and the other 30% were reserved for the project’s needs. No more tokens will ever be issued.

Licences

Crypterium is headquartered in Tallinn, Estonia (reg. number 14352837). Business operations are based on the following licenses: – Operating as a financial institution (FFA000236), – Providing a virtual currency wallet service (FRK000013), – Providing services of exchanging a virtual currency against a fiat currency (FVR000020). All solutions are certified under PCI DSS international payment data security standard.

External links

https://www.coinspeaker.com/2017/10/11/cryptobank-crypterium-financial-bridge-cloud-material-world/
http://www.businessinsider.com/ex-visa-uk-ceo-marc-obrien-crypterium-cryptocurrency-2018-5
https://www.cbsnews.com/news/bitcoin-price-how-high-could-it-go/
https://cryptocurrencycard.org/an-interview-with-austin-kimm-coo-co-founder-of-crypterium/
https://cointelegraph.com/news/can-blockchain-based-cryptobanks-overtake-centralized-competitors
http://businessweekme.com/crypto-payments-are-going-mainstream/

See Also on BitcoinWiki

• Horizon Communications
• Smart Trip Platform
• GBMS Tech
• Stellargoldcoin
• LiTeum