TenXPrice

(PAY)

TenX was a Singapore-based cryptocurrency and Web3 project launched in 2017 with the goal of making digital assets spendable in everyday life. The project was best known for its ecosystem which included a mobile wallet and a physical debit card that allowed users to spend various cryptocurrencies, such as Bitcoin and Ethereum, at millions of merchants worldwide that accepted major credit card networks. The primary token associated with the project was PAY. Originally, the PAY token was designed to serve as a utility within the ecosystem, with plans for it to provide rewards or incentives based on transaction volume within the network. The project also introduced a second token, TENX, intended as a reward token for holders. Technologically, TenX aimed to solve the problem of blockchain interoperability through its development of the COMIT Network. This technology focused on enabling atomic swaps, which are cross-blockchain transactions that occur without the need for a central intermediary. The vision was to allow users to hold their assets in their original cryptocurrency form until the exact moment of a purchase, at which point the system would convert the necessary amount into local fiat currency in real time. Despite a successful start and significant initial funding, the project faced several major setbacks. These included internal leadership changes and the departure of key founders. A significant external blow occurred in 2020 following the collapse of its card issuer, Wirecard, which led to the suspension of TenX card services globally. In early 2021, the project announced that it would discontinue its services and shut down its wallet operations. Users were advised to withdraw their remaining funds, and the company transitioned into a defunct or inactive status. While the project played an early role in the crypto-debit card industry, it ultimately struggled with operational challenges and regulatory hurdles that prevented long-term sustainability. Current status indicates the project is no longer operational. Learn more

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