Balance, an aggregator of cryptocurrency exchanges that will soon allow for users to buy and exchange digital currencies within a single app, cruised to the maximum allowed under Reg CF crowdfunding rules. Balance closed today having raised $1.07 million with the support of 1666 investors. The offering only showed up on Wefunder recently but all things Bitcoin are hot as enthusiasm and interest builds for digital coin and the underlaying Blockchain ecosystem.
The creators of Balance explain they want to help accelerate the shift of balances from private databases to public blockchains.
Balance is currently based on a freemium model that is designed to grow their user base and customer base quickly. Revenue is expected to be driven by allowing anyone to convert any balance from one coin to another for a small fee.
“Mosaic made websites easy to browse. Balance will make blockchains easy to use. We want to create a fast, free, open-source interchain browser that will help billions of people use blockchains in their daily lives. The majority of the world interacts with the internet using Chrome. We hope that the majority of the world will interact with the interchain using Balance.”
Investors in the Reg CF offer received a SAFE or Simple Agreement for Future Equity. The details of the SAFE are available here.
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