Jan 31, 2018
Paygine is an open financial platform designed to help business and its customers to use the cryptocurrency intheir everyday life as ordinary money. The platform model is based on its own banks based in the different countries, and in jurisdictions comfortable for cryptocurrency usage. The platform will be based on the existing and most advanced solutions of PayEngine LTD (registered in the UK) company that are currently used in the fintech world.
Paygine is an open financial platform designed to operate within its own proprietary banking structure and designed to serve FinTech and crypto-business needs in areas of money remittance, cryptocurrency exchange, and payment for "real" goods and services under white label solution.
Stage I // Phase 1
Stage I // Phase 2
2015 to 2017
Attention. There is a risk that unverified members are not actually members of the team
There are plenty of similar projects that were trying to issue the same solutions but did not succeed. The services provided by PayGine have already been introduced by Revolut and is in active development and global expansion. The idea is not unique and several other larger projects already working on the same solutions for a while. It is unclear what has been done by Best2Pay and PayGine separately. There are legal risks pegged to the bank acquisition procedure. The current stage of PayGine development is unclear.
PayGine will charge fees for the access to its payment solutions. The transaction fee will vary from 1.8% to 2.5%. The total cost of 2.5% includes full transaction lifecycle: from client-provider money transfer to withdrawal of funds as opposed to current solutions from existing providers. PayGine will also charge Exchange fees of c. 1.5%. The fee will be split between customer and store. The range between Soft and Hard Cap is quite high and equals to $27M. When compared to the similar projects, the valuation seems too high. Only 27% of the tokens will be available for sale. Most of the ICO collected funds - almost 65% - will be used for a bank acquisition. There are huge bonuses (up to 20%) for the public sale participants.
There are no people with blockchain experience within the team. Most of the team members have corporate management experience and did not start and scale companies by themselves. The team members are scattered around different time zones. They live in Florida, Singapore, Moscow, Donetsk, and Saint Petersburg.
The Paygine project is entering a promising, dynamically growing market whose growth rates will strongly assist this project’s pace of development.
Despite increasing competition in this sector, and the use of blockchain technology by similar projects, Paygine has the potential to take a market share, as its intended strategy of purchasing banks in friendly jurisdictions will ensure stable operation for the platform worldwide, and the introduction of its DLT module will speed up transaction times.
There is a consistency in the implementation of roadmap milestones and clear deadlines set during the period of project creation. The team includes specialists with experience working for Pay Engine Limited (Best2Pay), on the basis of which this platform is being created.
At the same time, this type of activity is subject to licensing and constant monitoring by regulators. The creation of such a business involves constant implementation of all regulations, requirements and standards determined by regulators, as well as a large number of conditions for obtaining various licenses. We do not consider this a risk inherent exclusively in the Paygine project but we note this as a risk for the entire sector. Investors need to understand that in this case further development of the platform’s business will be possible only after passing licensing (regulatory risk).
We should also point out that growth in the price of PGC tokens is limited to the pricing model on the platform, and therefore this model eliminates any risk of the PGC token market price falling below $1 in the long term. At the same time, it is the case that growth in number of users on the platform will not cause a comparable increase in the price of the PGC token.
This offer is based on information provided solely by the offeror and other publicly available information. The token sale or exchange event is entirely unrelated to ICOholder and ICOholder has no involvement in it (including any technical support or promotion). Token sales listed from persons that ICOholder has no relationship with are shown only to help customers keep track of the activity taking place within the overall token sector. This information is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice or carry out your own due diligence before taking, or refraining from, any action on the basis of the content on our site. Any terms and conditions entered into by contributors in respect of the acquisition of Tokens are between them and the issuer of the Token and ICOholder is not the seller of such Tokens. ICOholder has no legal responsibility for any representations made by third parties in respect of any Token sale and any claim for breach of contract must also be made directly against the Token issuing entity listed herein.
If you have any concerns about the nature, propriety or legality of this token sale or the persons involved in it please contact [email protected] with detailed information about your concerns.