Bnext Receives Additional $4.5 Million Investment, Led by Borderless Capital to Drive DeFi on Algorand

Algorand, a new blockchain platform that makes it possible to create decentralized fintech applications without having to build an altcoin is receiving validation from some of the top players in the industry. Bnext has raised $4.5 million dollars led by Borderless Capital, with participation from other VC funds including Fenbushi and Polychain capital.

Bnext, a company which is developing the Algorand blockchain platform has received an additional $4.5 million investment led by Borderless Capital to drive decentralized finance on Algorand. Read more in detail here: algorand price prediction.

May 12th, 2022, Madrid, Spain Chainwire

As the Spanish financial behemoth prepares to conclude its token sale, Bnext announces a total investment of $10 million.

With a fresh $4.5 million investment, Capital Without Boundaries has expanded its stake in Spanish Fintech Bnext to $10 million.

What Does This Imply for Bnext?

This additional investment will aid Bnext in achieving its aim of launching cutting-edge financial solutions until 2022 and beyond. Capital Without Boundaries will not only give financial assistance, but will also bring essential experience in the Algorand blockchain ecosystem, which will aid Bnext in the development of its multiple financial products and the worldwide acceptance of DeFi technology.

Algorand & Bnext

To mention a few technical advantages, the Algorand blockchain provides quicker transaction speeds, reduced fees, no mining needs, and a permissionless pure proof of stake (PPoS) approach to consensus. Bnext has already used Algorand to power its wallet app and is working on numerous more potential use cases.

Algorand Community Private IDO

Bnext will reappropriate 350 million B3X tokens for a private IDO that will debut on a top Algorand DEX shortly to express support for the Algorand community. All that’s left from Phase 2 of the inaugural B3X token sale are these tokens.

All Algorand community members who participate and hold tokens on the DEX will get preferential access to additional capabilities and other perks, in addition to the IDO allotment. In the next weeks, Bnext’s social media platforms will be updated with information on the IDO.

The public token sale on Bnext raised almost €5 million.

On March 31, 2022, Bnext partly completed its public token sale, generating over 5 million euros. The token sale took place over two weeks in March, with participants purchasing 360 million B3X utility tokens in the first few hours and another 15 million in the second. After the predicted IDO, the remaining B3X tokens from phase two will be burned to boost liquidity.

Bnext has reserved the final remaining tokens for a private IDO for the Algorand community, bringing the total raised to €11 million.

Token Utility B3X

The B3X token is a utility token that underpins the entire Bnext ecosystem. Its mission is to provide financial freedom to a global community of banked and unbanked people by expanding access to a growing selection of next-generation financial tools while remaining committed to continually improving the user experience.

Capital Without Boundaries’s continuous backing will enable Bnext to build its growing community and provide more value to users by expanding internationally. A sophisticated incentive system, a varied marketplace, the crypto wallet software with purchasing and selling conditions, international money transfers, user discounts, and more are all on the Bnext agenda.

Visit the Bnext website to discover more about how more individuals are regaining control of their money.

Bnext Information

Bnext is one of the first Spanish fintech behemoths and a pioneer in the field of alternative banking. The company’s purpose is to make it easier for individuals to manage their finances so that they may live more freely, simply, and intelligently.

Links from Bnext

Bnext App

Google Pay | App Store

Links to Algorand

Capital Without Boundaries

LinkedIn | Twitter

This information came from Bnext. This press release is provided only for informative reasons. This material is not intended to be investment advice or an invitation to invest.

Contacts

Bnext Marta
[email protected]

Bnext has received an additional $4.5 million investment led by Borderless Capital to drive decentralized finance on Algorand. This is a significant step in the evolution of blockchain technology as it will allow for faster transactions, lower fees, and increased security. Reference: algorand staking.