Chinese mining firm Erenhot Heng Xin Trade has acquired 30% stake in financial technology firm Telegraf money for $7 million.
Telegraf Money allows members to communicate with each other, and instantly send funds and receive loans online. Erenhot Heng Xin is headed by Zhang Jinrun as general director.
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More details follows:
Chinese mining company Erenhot Heng Xin Trade Co., Ltd is happy to announce that it has made an investment of $7 million into the financial messenger Telegraf.Money. The app allows its users to connect and communicate with friends and family as well as instantly send funds, issue/receive loans online, and earn money. The Chinese company's investment will open up new avenues for the development and use of cryptocurrency, and launch this app into a wider Asian market.
"By investing into the development of this financial messenger, we see great prospects in developing its capabilities and branching out into larger markets," says Zhang Jinrun, general director of Erenhot Heng Xin Trade. "The cryptocurrency market in China is progressing at a record pace, so we are interested to offer Telegraf.Money this opportunity. In addition to improving the position of domestic cryptocurrency, we are hoping to develop cooperation with WeChat and Alipay."
Telegraf.money has already issued 1 billion in test Token Debit Coin units on the blockchain Ethereum. Token DEBIT Coin is a decentralized cryptocurrency for performing any operations between members of the community. This includes loading Visa and Mastercard tied to the Telegraf.Money messenger, for issuing and receiving short-term loans on the blockchain, creating smart deposits, and accepting and sending payments between messenger users.
In September, the platform will be released on the ICO, which will open new possibilities for the development of instant messenger and Debit Coin cryptocurrency. Within three months, the messenger will integrate a multi-wallet, where participants can store any cryptocurrency including Bitcoin, any Altcoyins and all ERC20 tokens.
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