BAANX is a platform that offers users to borrow and remit fiat currency across the world and earn crypto rewards from their daily spending. The team behind the BAANX platform aims to make the platform a Crypto-as-a-Service Fintech, thereby narrowing down the gap between traditional currencies and cryptocurrencies.

According to its whitepaper, the majority of the FinTech services of the world are based on older technologies like massive central databases, mainframe computers, and slow systems. Such old technologies are challenging to maintain and update. The team behind the BAANX platform aims to utilize a mobile-first approach, which makes the services easier for its clients.

BAANX platform also enables its clients to start spending their loans instantly through virtual cards by withdrawing cash at ATMs worldwide. Therefore, the technology adopted by the platform is considered convenient.

The platform aims to offer services like secured lending, global remittance, high rate savings for crypto staking and many more. Moreover, the platform also provides licensed global card schemes. BAANX aims to enable clients to launch a completely managed and compliant mobile app according to their business models. Through this, businesses can add their business logos, designs, and logic along with transaction and monthly costs.

BXX is the native token.) of the BAANX ecosystem. The token holders of BXX are rewarded for holding, staking, and spending BXX. Through BXX, the holders can experience fast and secure remittances worldwide without any cost.

BAANX was founded in 2014 by highly experienced individuals from the banking, technical, and FinTech sectors. Garth Howat is the CEO of BAANX who is experienced in consumer lending and Fintech businesses. Sean Salloux is the CRO of BAANX, who is experienced in mobile app security.

The team of BAANX aims to extend ICO only to some existing token holders.