PayRue
A collection of unique pixel art, limited edition NFTs, and a shark and whale club with 195 elements and textures, and a W.O.S. Club with high-quality, 3D sharks.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| N/A | £95.8k | Seed | |
| Total Funding | 000k | ||
Related Content
PayRue operates as a decentralized financial platform centered on cryptocurrency services. Founded in London in 2018 by Mikael Olofsson and Ingemar Svensson, the company aims to simplify the use of digital assets for mass adoption. The founders leverage over two decades of combined experience in financial services and technology at firms like ICAP, Barclays, and Bank of America.
The company's core business revolves around providing a suite of digital currency solutions, accessible globally via iOS, Android, and web applications. PayRue's ecosystem is built on three main pillars: the PayRue Wallet, PayRue DEX, and PayRue Chat. The wallet supports both centralized and decentralized management of various cryptocurrencies, including assets on the BTC, ETH, and BSC blockchains, giving users control over their private keys. The PayRue DEX is a hybrid decentralized exchange on the Binance Smart Chain, which features a central order book and allows for limit and market orders without charging gas fees. Complementing these financial tools is PayRue Chat, a communication service that supports text, voice, and video, integrating crypto functionalities.
Revenue is primarily generated through commissions on cryptocurrency transfers and exchanges, at rates of 0.1% and 1% respectively. The platform also features its own native token, PROPEL, an asset on the Binance Smart Chain. Users can utilize PROPEL to pay for commissions at a 50% discount. The token also functions as a reward, a tool for liquidity mining and staking, and a governance token, allowing holders to vote on future company strategies. The company has also expanded into the NFT space with the PayRue NFT Marketplace on Polygon, where creators can mint and market their digital art. Since its official launch in March 2019, the company secured a registration in Estonia for crypto exchange and digital wallet services and has grown its user base to over 22,000 registered users.
Keywords: PayRue, Propel token, decentralized finance, cryptocurrency wallet, crypto exchange, Mikael Olofsson, Ingemar Svensson, Binance Smart Chain, digital asset platform, crypto transfer, DEX, NFT marketplace, crypto payments, PROPEL, blockchain finance, crypto chat, decentralized exchange, digital currency services, crypto storage, financial technology