Chynge (XCLP)


Token-Sale28th, June 2018 - 25th, September 2018
Project Concept 
Chynge is a combination of Fintech and Regtech. Fintech brings efficiency in cutting money transfer fees while Regtech will reduce the risk of money laundering, financial terrorism, and fraud. With the digitization, democratization, and socialization of money, they make payments instant, free, and safe within a decentralized financial system where people of all income levels can access simple-to-use and secure financial services.
Project Purposes
Chynge's purpose is to create a decentralized software service to manage money transfers between countries. Chynge makes cross-border payments that are instant, free, and safe powered by smart compliance and blockchain. They have a unique multi-sided payments business, in which a large, closed-loop payments network connects both senders and recipients.
It is a multi-jurisdiction, regulated digital payments network where money moves instantly and safely with zero fees. The company’s financial inclusive solutions put money back into local communities that can be used for developing infrastructure, education, healthcare, and social programs, to improve the lives of customers and those they love.
Chynge is a private, permission-based distributed ledger service to track settlements as money traverse across multiple agents from the Sender to the Beneficiary. The key feature of them is the Smart Contract. Chynge.Social will call the other solutions within the Chynge portfolio including the Chynge.Net blockchain combined with the Chynge. Connect API and dApp services that enables cross-border payments that are immersive and invisible within the customers’ social context.
Chynge has established itself in Hong Kong, Brunei Darussalam, UK, and UAE. The company has the intention to enter the European Union (EU) and Asia-Pacific. This is one of the reasons why it is talking with regulatory entities from these two regions to keep exploring new exciting territories.
Chynge has opened bank accounts in all the target destination market that contain local currency, this would ensure sufficient liquidity to facilitate transactions. The system allows for funds to remain within the countries and eliminates extra cost and times.
The company will be using a ‘Smart Compliance’ method, that leverages AI and Machine Learning in order to create comprehensive profiles of users and transactions. This will allow Chynge to monitor different aspects of money laundering, terrorist financing, and other financial crimes. Also, this will allow the company to be in line with new regulations around the world about AML, and KYC policies.

Token InfoInvestment Info
Token: XCLPAccepting: BTC, ETH, XLM
Platform: Stellar LumensDistributed in ICO: 70%
Type: StellarSoft Cap: 80,000,000 XCLP
Price in ICO: 1 XCLP = 0.05 USDHard Cap: 560,000,000 XCLP
Total Supply: 800,000,000 XCLPBounty: Available
Tokens for Sale: 560,000,000 XCLPMinimum Investment: 0.555865 ETH
Know Your Customer (KYC): YESRestricted Areas: United States, China
Token Distribution
ICO: 70.00% (560,000,000 XCLP)
Team and Advisors: 15.00% (120,000,000 XCLP)
ICO Bonus: 10.00% (80,000,000 XCLP)
Community: 5.00% (40,000,000 XCLP)
Funds Allocation
Product Development: 37%
Sales & Marketing: 35%
General Admin: 28%
Q1 2015Incubator: NTUitive at Nanyang Technological University (NTU).
Q2 2015Company Founded Fundraising: Founders.
Q3 2015Fundraising: Friends and Family.
Q1 2016Fundraising: Seed.
Q3 20161. Accelerator: TAG.PASS IBM Watson Cognitive Computing.
2. Beta Release: Chynge Central.
Q2 20171. Accelerator: The FinLab.
2. Regulatory Sandbox: Brunei Darussalam.
3. Generally Available: Chynge Central.
Q3 20171. Accelerator: PayPal Innovation Lab.
2. Accelerator: Digital Switzerland (Finalist).
3. Remittance License: Hong Kong.
4. Beta Release: Chynge Connect.
Q4 20171. Accelerator: Paris&Co Accelerator.
2. Accelerator: Hong Kong Cyberport.
3. Accelerator: UBS Future of Finance (Top 3 in Asia-Pacific).
4. Fundraising: Pre-A.
5. Remittance License: Singapore.
6. Regulatory Sandbox: United Arab Emirates (UAE).
7. Regulatory Sandbox: United Kingdom (UK).
8. Generally Available: Chynge Connect v1.0.
9. Generally Available: PeopleGo with Chynge Connect.
Q1 20181. Accelerator: NTT Data (Finalist).
2. Remittance License: Applied to European Union (EU).
3. Beta Release: Chynge Connect v2.0.
4. Beta Release.
Q2 2018Initial Coin Offering.
Q3 20181. Testing in three (3) Regulatory Sandboxes.
2. Apply for licenses in four (4) new markets.
3. Operations in two (2) markets: Singapore and Hong Kong.
Q4 20181. Graduate from two (2) Regulatory Sandboxes.
2. Apply for licenses in one (1) new market.
H1 20191. Graduate from one (1) Regulatory Sandbox.
2. Apply for licenses in two (2) new markets.
3. Begin business operations in two (2) new markets Operations in four (4) markets.
H2 20191. Apply for licenses in two (2) new markets.
2. Begin business operations in four (4) new markets.
H1 20201. Apply for licenses in two (2) new markets.
2. Begin business operations in two (2) new markets.
H2 20201. Apply for licenses in two (2) new markets.
2. Begin business operations in two (2) new markets.
Articles and Researches
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