World’s First Payment Token with No FX Risk
The payments industry is among the most heavily regulated, with efforts to circumvent compliance being promptly illuminated and punished. In 2015, for example, Ripple was fined by the Financial Crimes Enforcement Network for failing to comply with a requirement that virtual currency businesses follow established anti-money laundering regulations for money transmitters. While recent fines on non-bank MTOs have often been nominal, they reflect the industry’s desire to reinforce the need for proper compliance. The technology of Blockchain now is being tested for its ability to deliver similar benefits for various forms of payment supervised by financial institutions and regulators. Consequently, advances in consumer peer-to-peer payments and the proliferation of pilot programs using blockchain technology are pressuring incumbent banks and traditional money-transfer operators to develop and improve their offerings. This promises to soon bring a step-change improvement in associated cost, speed, and transparency.
Stellar is a platform that connects banks, payments systems, and people. Integrate to move money quickly, reliably, and at almost no cost. Stellar platform an open-source payment technology platform is a new addition to the crypto family that is gaining momentum at the moment. Its objective is to involve financial institutions and make significant reduction in price and time that are essential for cross-border transfers. This currency bears a range of similarities with Ripple.
A new solutions will need to have relatively low costs, be technologically easy to integrate, offer clear advantages such as lower compliance risk, and help banks to be competitive while destroying healthy margins. More importantly, new systems will need to deliver a step change in security. A major attribute of blockchain technology is its use of leading-edge encryption combined with multifactor authentication at critical transaction stages.
Chynge fights financial crime with Chynge Central, a self-learning proprietary solution. All customers and transactions are scanned by a combination of pre-set risk indicators and algorithms so that patterns of suspicious behaviour are detected. As compliance officers make decisions with the valuable insights afforded by the solution, the feedback loop is closed in the solution, making it even smarter, faster and more accurate. Smart Compliance is the AI/ machine learning intelligent decision support system that addresses money laundering and terrorist financing. Our models are already trained with known risk indicators/ red flags and international bad guy lists. We continue to train the models with raw transaction data including sender and beneficiary information, transaction dimensions, newly discovered typologies of financial crime as well as real-time compliance officer input.
The Chynge team including Board of Advisors has a wide variety of experience comprising compliance, banking, enterprise software, analytics, marketing, legal, and working with multiple verticals including telcos, insurance, banking, airlines, and retail. Blockchain is yet another database, with a procedural language attached to it. Stellar is not perfect but we committed to the technology based on current knowledge and the features in the pipeline. We shall incorporate SCP and Lightning Network as these features GA. We are regulated in multiple jurisdictions and we can’t write Chynge transactions to the public Stellar network.
CLPX a Payment Token
- Store of value
- Store of currency exchange
- Manages the Chynge Liquidity Pools (LPs) across countries
- CLPX transfer value across countries
- Reduces Settlement Risk, Credit Risk and FX Risk
Token Name : Chynge Liquidity Pool Token
Token Symbol : CLPX
Token Particulars : Compliant on Steller.org
Token Type : Payment Token
Issuance Amount : 3.2B CLPX
ICO Soft Cap : 80M CLPX
ICO Hard Cap : 560M CLPX
1 BTC : 122,745 CLPX
1 ETH : 8,995 CLPX
1 XLM : 3.8245 CLPX
1 CLPX : 0.05 USD
Crowd Sale minimum purchase : 0.040735 BTC
Crowd Sale maximum purchase : 3.258790 BTC
Purchase CLPX with : BTC/ETH/XLM
For more information please visit links :
Website : https://www.chynge.net/
Whitepaper : http://bit.ly/chynge_whitepaper