A sense of excitement ripples through crypto circles as a new XRP altcoin—focused on bridging real finance—has blown past the $11.2M presale milestone.
A new cryptocurrency, Remittix, has quickly sold over $11.2 million in presale tokens, aiming to bridge the gap between digital payments and traditional banking rails. The token, focused on facilitating fast and affordable remittances, has attracted attention as a potential solution to a pain point in the crypto and finance space.
Remittix’s presale began on March 13 and quickly gathered steam, aiming to raise funds for its PayFi (payments finance) platform. The platform is designed to enable users to receive crypto payments, which can then be converted into local currency and withdrawn at partner agents, avoiding long queues or high fees at banks or money transfer services.
The presale tokens, priced at $0.047 each, will be used to generate liquidity on decentralized exchanges (DEXs) once the token launches. The total supply is capped at 3.5 billion tokens, with a maximum of 2.5 billion tokens available during the presale. The funds raised will reportedly go toward expanding the Remittix team, improving the platform, and acquiring partners.
Remittix’s goal is to facilitate remittances for the unbanked and underbanked, estimated at 1.7 billion adults worldwide, who handle money daily but lack formal bank accounts. The platform aims to integrate with crypto exchanges, wallets, and cash points to enable seamless payments.
While XRP was initially intended to be a solution for cross-border transactions, regulatory issues and slow updates have hindered its progress. However, Remittix is reportedly aiming to fill this void with its PayFi token, focusing on smaller traders and everyday transactions.
Despite being early in the game, Remittix has already achieved several milestones, including being fully doxxed and having its smart contract audited by a third party. The liquidity on DEXs will be locked for three years, and the contract will be renounced post-presale, eliminating the possibility of a rug pull.
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