30 Fastest Growing Companies in Asia 2019 30 Fastest Growing Companies in Asia 2019 | Page 64

TenX: Cryptocurrency
Usability Brought to a
Whole New Level
Toby Hoenisch
Co-founder & CEO
C
ryptocurrencies took the
online world by a storm,
coming up with a new
concept that intrigued a lot of
people. However, one of the
drawbacks of online currency
was that there was a long process
involved in order to physically get
the crypto currency’s equivalent in
order to spend it. In other words,
withdrawing the crypto currency,
spending it or transferring it is a
cumbersome process. A number
of firms came up that could help
facilitate the process of obtaining
online currency and being able to
use it in the physical world.
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TenX is a Singaporean platform
that makes cryptocurrencies
spendable. It gives people the
opportunity to make payments
DECEMBER 2019
and withdraw their money using
their TenX Card. Their payment
system includes a TenX Wallet
that can be funded with different
cryptocurrencies (available on iOS
and Android) and the TenX Card,
which can be used in almost 200
countries at over 42 million VISA
points of acceptance online and
offline. It offers its users access
to different cryptocurrencies in
a convenient and secure manner.
It ensures outstanding customer
experience.
It was founded in 2015 by Toby
Hoenish, Michael Sperk and
Paul Kittiwongsunthorn. It was
initially called OneBit as the focus
was on Bitcoin. The co-founders
believed that the blockchain and
cryptocurrency are the future
of payments. They founded the
company with a vision to have
assets on the blockchain, available
not only to industry insiders but to
anyone in the world.
TenX Genesis:
They received their first outside
investment in 2016, which was
also the time when PayPal started
to incubate the company for
further growth. They rebranded
to TenX—a name inspired by not
wanting to grow “one-bit” at a time
anymore, but rather by “10x”—
meaning ten times as much,
covering the whole range of crypto
space.
On the 24th of June, 2017, TenX
completed one of the biggest