TenX (PAY) is a blockchain platform with its own multi-currency wallet and a decentralized, fee-free exchange. The project also issues its own debit cards. It was founded by Toby Hoenisch and is built by a Singapore-based team; its investors include Vitalik Buterin.

What TenX can do

TenX started life as a Singaporean "PayPal for crypto" startup. Its founder believed that existing banking systems were far too slow, and that cryptocurrencies - TenX among them - could solve that problem. One of TenX's central goals is to make users want to pay with a TenX card wherever they would normally use Visa or MasterCard. To that end, cardholders get a set of benefits: they receive 0.1% of all their own transactions back in TenX tokens and, as a related benefit, pay no fees on payments. Payments are converted into fiat money automatically.

This simplified settlement became possible thanks to TenX's partnership with WaveCrest bank, which in turn is a partner of Visa and MasterCard. However, at the end of 2017 WaveCrest changed its terms of service and banned card use outside the European Union, sharply narrowing the territory where TenX cards can physically be used.

Conversion of cryptocurrencies within TenX is handled using the COMIT protocol.

Key features of TenX

1. You are rewarded for using the TenX service.
2. Real-world usability: TenX works with VISA and MasterCard.
3. The TenX debit card can hold several different cryptocurrencies.