Aussie cryptocurrency startup, Slime, is hoping to shake up the cryptocurrency industry with a new 2XCurrency platform.
The platform allows people to invest in cryptocurrency without the need for a bank account, which is what many people have to do to get started with cryptocurrency.
Slime’s founder and CEO Alex Toth said the team is focused on bringing a cryptocurrency investment solution to Australian consumers.
“If you’re a bitcoin investor, this is where you want to be,” Toth told the ABC.
“You want to get exposure to bitcoin, but you don’t have to use any banks to do that.”
The company was founded in December 2018.
It’s aiming to have an initial coin offering (ICO) within the next 12 months.
The company will operate in a two-phase launch.
The first phase is to raise $100 million to get the project off the ground.
The goal is to be a fully-functioning company within five years.
“We’ve built a great team,” Tith said.
“So we’re pretty excited to get into this phase.”
It will be funded by the Australian Taxation Office (ATO) and the Australian Securities and Investments Commission (ASIC).
The second phase is a funding round that will kick-start the company’s growth.
The company hopes to raise another $100m by the end of 2019.
“The biggest thing for us at the moment is we’re going to have to get it done,” Tuth said.
The startup will also build a dedicated website and social media to help investors find other investors.
Slimes main focus is bitcoin, which it plans to sell to its customers.
“Bitcoin is a wonderful medium for investors to invest,” Tye said.
“There are so many opportunities out there for bitcoin.”
The startup said it is working with more than 50 institutional investors to get its product to the market.