TenX (PAY) is an Ethereum-based blockchain service which offers users crypto-debit cards and mobile crypto wallets to carry out crypto payments which are automatically converted to fiat. TenX’s COMIT network allows for direct trades and payments of coins and tokens, and has Lightning Network capabilities which are conducted off-chain. The project’s slogan is ‘One World. Multiple Virtual Currencies’. The project is still in beta phase, but already has support for Ethereum, Bitcoin, DASH, and all ERC20 tokens.
The ICO launched in July 2017, with half of the 205,218,256 PAY tokens being released for sale. TenX was founded by CEO Toby Hoenisch. The ICO raised $67 million in ten minutes, equivalent to the value of 200,000 ETH.
The COMIT network is a protocol used by TenX to connect disparate blockchains and allow for real-time transactions between various currencies. If successful, a TenX debit card could become a singular access point for new and existing crypto users.