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43. Tenx (PAY) (Published: 16th Aug, 2017)
Basic Information
TenX is a payment platform powered by the Cryptographically-secure Off-chain Multi-asset Instant Transaction (COMIT) network, which allows decentralised real-time instant cross-blockchain assets transactions. PAY token is built as an ERC20 token on the Ethereum blockchain. Tenx will not charge any fee for any transactions done in local or foreign regions. The underlying principle here is similar to that of Monaco, but TenX offers a mobile wallet that can be funded by nearly all blockchain assets, including Bitcoin, Ethereum, Dash and other ERC20 tokens. Users can exchange any blockchain assets seamlessly from one user to another in a decentralized manner, removing any risk that is usually associated with current centralized solutions.
Also, there is a cardholder incentive that provides 0.1% reward for every purchase. Vitalik Buterin, the founder of Ethereum is one of the advisor of the project, which attracted massive supporters during the ICO. The PAY token holders will receive an incentive of 0.5% of the entire payment volume on the TenX payment platform initially on a monthly basis.
PAY is trading on Bter, Bittrex, Liqui, Yobit and Gatecoin (with Bittrex responsible for 55% of the volume). At the time of writing, PAY is trading at $4.18 with market cap of $436,980,855 .Its price reached the peak in August at $6 and there was a considerable increase in trading volume. The ICO of Tenx ended in June has raised $80 million and $20 million of the amount was raised within 7 minutes after the initiation.

Future Development
TenX and Monaco are both planning for expansion in the coming days. TenX plans to get listed on more exchanges, especially the ones in China, where digital payments and cryptocurrencies are extremely popular. Yunbi is their top priority now and it is expected that a cryptocurrency debit card will make an impact in China.
On the other hand, TenX is considering not giving 0.5% reward to those tokens being held on exchanges or internal TenX contract, as the incentives are in the first place given to users who contribute to the payment network. The proposal has not been finalised but this may become an example of other companies who do not design their tokens for speculations.

Despite the intention of Singapore government to regulate the ICO, blockchain and cryptocurrency related companies are greatly supported in the region. TenX has the potential to become the winner in cryptocurrency payment market along with the increasing popularity of cryptocurrency.

There are many companies specializing in cryptocurrency payments in the market but none of them has made a great achievement. A main reason behind is that using cash is still far more convenient and cost-effective than using cryptocurrency, also given that the latter keeps appreciating in these years. Many people hold cryptocurrency as a store of wealth instead of a medium of exchanges. The major supporters of these companies are mainly enthusiasts of cryptocurrency and the market is still very niche. Companies like TenX and Monaco have to contemplate a way to expand the market so as to sustain a long term development.

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