Ubank Launches Blockchain-Based Platform to Enable Mass Consumer Investment in Cryptocurrency

Ubank launches a Token Sale for Ubcoin Market, a peer-to-peer ecosystem that would allow its users to become crypto investors simply by selling real goods and receiving cryptocurrency in exchange

The team behind the mobile payments app Ubank expands its business and launches a blockchain ecosystem called Ubcoin Market. Its participants would be able to easily sell and buy real goods in exchange for cryptocurrency. The Token Sale is listed and favorably reviewed on foundico.com, icobazaar.com, and other rating platforms.

Ubcoin Market bridges the gap between crypto and real worlds. On one hand, those who are not well-versed in blockchain will be able to become crypto investors in an easy and safe manner, and, on the other hand, experienced members of the decentralized universe will be empowered to spend their crypto wealth without converting it to fiat currencies.

Ubcoin Market offers a solution for two clear-cut and objective opportunities. The first opportunity stems from almost 2 billion digital citizens, many of whom are keenly interested in cryptocurrency but have their path to crypto investment hindered by technological and legal barriers: mining is expensive and changing fiat money to cryptocurrencies is a cumbersome process. The second issue is the one faced by more than 23 million cryptocurrency owners who are not able to easily spend their crypto investments due to restrictions imposed by governmental and financial organizations.

“If people want to sell their goods, they know where to go — eBay, Taobao, Etsy (60% of all internet users sell and buy goods on similar peer-to-peer platforms, according to Internet Retailer 2017). We do not compete with those platforms for users who want to receive fiat money. Our goal is to give consumers an easy way to become investors in crypto coins by using a peer-to-peer mechanism that is very familiar to them, — says Felix Khachatryan, Ubank’s CEO. “You put up your goods — a laptop, a car, an item of clothing, whatever — for sale, sell it, receive tokens, and then hold them as investment or means of payment or change it to any major cryptocurrency like Bitcoin or Ethereum. And that’s it, now you are a crypto investor. Same way, you can buy anything you see on Ubcoin Market using the crypto wealth you’ve accumulated without exchanging it to ‘real’ money.”

The Ethereum-powered platform will promote peer-to-peer interaction by cutting out the middleman; provide a completely legal marketplace by developing an AI technology for pre-screening seller postings for potential infringements of reason, morality, safety, and due care; and cultivate an open community by making the API available for adapting the platform for local needs and by engaging third-party providers as well.

Ubcoin Market will be integrated into Ubank — the leading mobile payments app in the Eastern Europe that has been pre-installed by Samsung and Fly on their smartphones.

Ubank was launched in 2013. It received an $8 million investment from Runa Capital fund. As of today, the app has 2.5 million monthly active users, has been downloaded by more than 16 million users around the world and it processes 20+ million transactions a year.

The team behind Ubank and Ubcoin Market consists of 50+ highly skilled tech professionals, world-class top managers, and experienced marketing officers.

Felix Khachatryan, founder and CEO at Ubank and Ubcoin, is an expert on mobile applications, SaaS, and payments. Jan Mazhar — founder and investor of Ubcoin — is a VP of Product Development at FLY Mobile, one of the top 5 smartphone brands in Russia. Andrew Lee, another founder and investor of the project, is a Commercial Director of Union Services, with 20+ years of experience in global markets and mobile industry. Stan Danysh, Ubcoin’s COO and Ubank’s managing partner, is a former deputy chairman and Head of Operations at MDM bank, one of the leading private banks in Russia. Alexandr Putilin, CTO and Chief Blockchain Developer of the project, is a software engineer with 15+ years of experience in commercial development. Marina Lerner, CMO at Ubcoin and Ubank (since 2013), is a former Head of Brand Management at HeadHunter Group, one of the most valuable Russian Internet companies (Forbes, 2018).

The advisory board is an impressive collection of global business professionals, thought leaders of their fields, and long-term partners of the Ubank team. Yama Bassam is an American entrepreneur, an angel investor with over a decade of national and international finance and banking executive experience, and a member of FINRA since 2003. Maxim Filin is a senior executive at Motorola (Russia and CIS products), with years of experience working at the top industry companies dealing with mobile devices, networks, and technologies. Evgeniy Pavlov is Head of Sales and Business Development at Bitfury in Russia, CIS and the Eastern Europe. He has been involved in selling and market-launching new mobile products for more than 13 years. Oleg Bud manages smartphone portfolio for emerging markets at Samsung. He has been working with innovative mobile devices and services for more than 15 years.

After the Token Sale and the launch of the MVP in Russia and in the Eastern Europe, Ubcoin Market plans on unfolding a global expansion, starting from the Middle East and South Korea (2019 2Q), South and South-East Asia (2019 3Q) and Latin America (2019 4Q). For now, the platform is planning to target individual users, but in mid-2019 is going to start working with small and medium-sized businesses.

About Ubcoin Market

Ubcoin Market is a blockchain project developing a smart ecosystem for easily investing and exiting cryptocurrency by buying and selling goods and services. Ubcoin Market was founded by the same team that founded Ubank, the leading mobile payments app in Eastern Europe that has been working since 2009 and, as of today, has 2.5 million active users, more than 16 million downloads around the world, and has been pre-installed by Samsung and Fly. To learn more about the vision and the structure of the project visit its website and read is whitepaper.

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.