B3X is a utility ERC20 token hosted on the standard Ethereum Blockchain network. The funds from the token sale are expected to help Bnext scale its operations to Latin America and later globally.
According to a release, Bnext claims to be a next-generation neobank that offers its users secure, transparent, blockchain-based International money transfers.
In June 2021 Bnext partnered with Algorand, who is said to be a significant shareholder in the Bnext and the provider of the blockchain network that underpins the Bnext app.
The Bnext digital app lets users send, receive, and request money using blockchain.
A free account comes with an IBAN number, and both a virtual and physical card. Users can send dollar-based stablecoin USDC to the destination, then off-ramps to a Bnext account in the desired fiat currency. The App is available on the App Store, Google Play, and in Huawei AppGallery.
Bnext users also have the ability to buy and sell digital assets.