Lykke to list AirToken (AIR) on the Lykke Exchange
Lykke, a FinTech company building a regulated, blockchain-based global marketplace, and Airfox, a project that leverages the ubiquity of mobile devices to reduce costs, provide easy access to financial services, and create a financial identity with their digital data, added AIR token to the list of tradable assets on the Lykke Exchange.
The team behind AIR, Airfox, aims to deliver financial services to the unbanked and underbanked in emerging markets because traditional banking is too expensive, serves the elitist, and is physically out of reach for most people. In today’s digital age, mobile penetration in Brazil is nearly 100% with 85% of all smartphones using the Android OS. The AIR project leverages the ubiquity of mobile devices to reduce costs, provide easy access to financial services, and create a financial identity with their digital data.
On February 1, 2018 Airfox launched their app in Brazil allowing people without bank accounts or credit cards to join the global economy and participate in mCommerce and eCommerce. After installing the app for free from Google Play, users are able to conveniently digitize cash at 40,000+ locations throughout Brazil and use that money to transfer money to a friend (like Venmo), buy mobile top-up, rides on public transportation, digital entertainment, and more. In addition, users can use that money to make online purchases of digital services and offline goods.
On February 28 at Mobile World Congress in Barcelona, Spain, the Airfox team publicly announced the launch of microloans in Brazil. Future product roll outs include debit and credit cards, more options to spend money, and merchant services, along with financial planning and education.
“Airfox has a noble goal to bank the unbanked. We are proud to help this project in their mission and list AIR token on the Lykke Exchange,” stated Richard Olsen, Lykke founder and CEO.
Victor Santos, co-founder and CEO of Airfox, said: “In order to break the vicious cycle of poverty, we must provide the resources and capital people need to educate themselves and open up new opportunities they did not have before. With smartphones and blockchain, it is now possible to reach the mass and leverage the latest cutting-edge technology to serve those that need it most. That is why we are happy to announce the listing of AIR token on the Lykke Exchange, the platform that aims to democratise finance - the goal very much similar to ours.”
AIR token trading on the Lykke Exchange begins on March 23, 2018.
Airfox is on a mission to provide the more than two billion unbanked people in emerging markets with mobile access to financial services. The Airfox app, available on Android, eliminates the need for traditional financial institutions and enables unbanked users without credit to access capital and loans via their smartphones. With the app, users can make purchases and apply for and receive microloans. The Airfox lending platform matches lenders around the world to borrowers in developing countries using AirTokens (AIR), an ERC-20 token built on the Ethereum blockchain. Airfox has offices in Boston, São Paulo, and San Francisco.
For more information, visit https://airfox.com.
This agreement will make AIR tokens available for buy and sell orders on the trading venue of Lykke Netherlands B.V., which carries a number of tokens and cryptocurrencies. Investors from a wide range of jurisdictions can access the Lykke NL trading venue through the free Lykke Wallet app for iOS and Android.