BABB: BAX Token Updates
BABB team is currently working on the next exciting new project involving GBP Money accounts and linked debit cards. 10 billion BAX will be reserved for the treasury in order to be used in the development and deployment of this major project. As promised during the BAX swap last year, we are informing our community in advance. The first 3 billion BAX issuing is scheduled for next week.
The project — what’s coming
Money Accounts and Cards are two major projects that will benefit from the accelerated development process as a result of the increased token supply. BABB aims to add GBP money accounts to the BABB App and begin offering them to Babbians in early 2023. These Money Accounts would also have linked debit cards, allowing for daily purchases from a Babb account.
- GBP Accounts 💷
GBP Accounts with the ability to receive GBP locally, using a UK sort code and account number, or internationally, using an IBAN number and SWIFT code, as well as send money to any UK sort code and account number.
- Debit card 💳
Debit cards, both virtual and physical, that are directly linked to a GBP account and allow daily purchases in online and offline stores. Physical debit cards will be available to order within the UK or EEA.
- Field-test for multicurrency 🌐
GBP Accounts and linked cards will allow BABB to gain experience in fiat transactions and prepare for a future where the company will be able to offer multi-currency accounts and cards.
What’s the reserved BAX for? What’s the timeframe?
BABB has set aside 10 billion BAX for the Money Accounts and Cards projects. As previously stated, this amount will be generated in multiple transactions spread over a longer timeframe. The first part, consisting of 3 billion BAX, will be generated next week,
Any future major projects that necessitate the issuance of additional tokens will be communicated to the community in a timely manner.
HODL + WAGMI 🚀
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Visit getbabb.com and download the app to become a Babbian & discover what the BABB app has in store!
BABB is an FCA-registered company based in London, operating in the financial technology industry. The company was founded by Rushd Averroes in 2016 and focuses on decentralized banking systems offering peer-to-peer money and crypto transfer, mobile banking app, money accounts, and cards…
For more information, view the website here: https://getbabb.com
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