PointPay (PointPay) Review

PointPay: Blockchain Banking Ecosystem

PointPay is a London-based blockchain project, the core of which is comprised of technology and marketing specialists from Russia. The startup raises money through the sale of PXP tokens to develop a one-stop-shop for everyone who wants to pay, trade, or store cryptocurrencies. 

The PointPay ecosystem

The ultimate goal of PointPay is to create the three-faceted ecosystem on the foundation of the Ethereum blockchain. The ecosystem will consist of a bank, an exchange, and a multi-currency digital wallet.

The PointPay Bank will be capable of granting users loans in PXP, the projects native token compliant with the ERC-20 standard, as well as other popular cryptocurrencies. The project also plans to issue the virtual and physical debit/credit cards that work with both crypto and fiat. The Bank will also have a crypto Forex trading feature.

The PointPay Crypto Exchange will support cryptocurrency trading against fiat, along with futures, stocks, spot, and margin trading with a 1:10 leverage. In addition, the Exchange will have its own launchpad to facilitate token offerings by the emerging blockchain projects.

The PointPay Multicurrency Wallet that’s suitable for both fiat and cryptocurrencies and allows instant deposits in USD, EUR, and CNY. There is also a possibility for instant conversion of funds within the Wallet.    

The PointPay team

  • Andrey Svyatov. The founder and CEO. An aspiring digital entrepreneur and cryptocurrency trader. He is also a founder of Clienach, an online service for customer searching via social networks.
  • Anna Forster. The COO. Anna is a project manager who specializes in the IT field. She is also a founder of Foster Group LLC that deals with e-commerce. Anna joined PointPay in June 2018.
  • Ivan Levitsky. The CTO. Ivan has more than seven years of experience in software engineering during which he has acquired expertise in Solidity and blockchain development. He worked as a senior software engineer at Alpari and Nova Technologies.  

ICO details

The PointPay project is currently conducting the first round of sale of PXP token, which commenced on July 22 and is due to last until March 23, 2020. It will be followed by two more ICO rounds, the first of which will begin on March 23 and end on November 23, 2020. The last round of the PXP token sale is scheduled to commence on the same date and run until July 23, 2021, thus completing the year-long ICO. The price of PXP will differ from round to round, and will be the following:

  • Round 1 - $0.1 per PXP;
  • Round 2 - $0.2 per token;
  • Round 3 - $0.3 per coin.

The event also provides for a token bonus, though there are no specifics to be found on the official website. PointPay offers 500 million PXP for sale, which constitutes 50% of the total supply. All unsold tokens will be effectively burned. 42% of acquired funds will be allocated for the platform and app development, 40% will be used for marketing and branding purposes. The fundraising goals of PointPay looks the following:

  • Softcap - $1 million;
  • Hardcap - 30 million.

PXP tokens can be purchased with BTC, ETH, XRP, BNB, LTC, XLM, USDT, BCH, TRX, and EOS. The investment threshold is a mere $0.1. All interested buyers must get whitelisted and pass KYC. Crypto enthusiasts from Cuba, Iran, Lebanon, Syria, Libya, Sudan, Somalia, North Korea, and Yemen will not be admitted to the token sale.   

Author: Alex Paulson for Crypto-Rating.com

  • Low fees
  • Fast transfers worldwide
  • No currency restrictions
  • Virtual, debit and credit, fiat and cryptocurrency cards
  • Cryptocurrency lending
  • Crypto acquiring
  • Online mobile banking
  • Crypto Forex Trading
  • Crypto deposits and credits
Pre-Ico Start dateMay 22, 2019
Pre-Ico End dateJuly 21, 2019
  • Andrey Svyatov. CEO
  • Anna Foster. COO
  • Ivan Levitsky. CTO
  • Halina Hulidava. Chef Quality Officer
  • Renat Vakilov. Crypto Bank PM
  • Artem Zbandut. Crypto Exchange PM
  • Anatoly Gugel. Crypto Wallet PM
  • Alex Varigin. Project Manager
  • Andrey Korovin. Sr. Software Developer
  • Yuri Surbashev. Sr. Software Developer
  • Ilya Shabanov. Sr. Software Developer
  • Irina Karpenko. Sr. Software Developer
  • Sergey Kovalev. Sr. Devops Engineer
  • Sergey Vishnyov. Sr. iOS Software Developer
  • Olga Liulko. Sr. Graphic UX|UI designer
  • Maria Blyashchuk. Business Development / HR
  • Alina Ibragimova. VP of Customer Relations
  • Konstantin Poplavsky. Content Writer
  • Candy Zuo. Content Manager
  • Liliya Nixon. Sales and Marketing Manager
  • Aleksandr Sviatov. CMO
  • Elena Zaytseva. Banking and Back Office Manager
  • Elza Hovhannisyan. Content writer
  • Farheen Irfan. Community Manager
  • June 25, 2018. PointPay Company Registered POINT PAY LTD (Company No.11431098) .
  • Q3 2018. Development of the basic MVP Crypto Exchange features started; Development of the basic Wallet MVP features started; ICO website development started
  • Q4 2018. Blockchain listener completed; Referral system implemented for Crypto Exchange and Crypto Wallet; ICO website completed
  • Q2 2019. Android mobile application for Crypto Exchange development started; Ecosystem planning and development
  • Q2 2019. May 22, 2019 ICO website launch + announcement; May 22-Jul 21. Private ICO Round
  • Q3 2019. Jul 22 - Mar 22 Round 1 - $0.10 per token; Mar 23 - Nov 22 Round 2 - $0.20 per token; Nov 23 - July 22 Round 3 - $0.30 per token; Crypto Bank market analysis; Crypto Bank: infrastructure planning; Integrated Crypto Exchange platform development; - Integrated Crypto Wallet platform development
  • Q4 2019. Start of Crypto Bank development; Referral and affiliate systems integration for Crypto Exchange; Referral and affiliate systems integration for Crypto Wallet
  • Q1 2020. Filing for the following licenses: Reg. D license, EMI license UK, EMI license Estonia, EMI license Eurozone, EMI license Singapore, Banking license Cayman Islands); Main crypto exchange features completed; Multi-currency Wallet; iOS, Android apps released (Multi-currency Wallet, Crypto Exchange)
  • Q2 2020. Gateway crypto services development begins; Crypto merchant services development begins; Fiat support, purchasing crypto for fiat available; Crypto bank v1.0 development begins
  • Q3 2020. Crypto Bank: mobile apps development; Fiat currencies trading support; Insurance of funds in the Crypto Wallet
  • Q4 2020. Crypto Bank: payment systems integration; Extended analytics and support features for Crypto Exchange implementations; Fiat currencies management integration into PointPay Crypto Wallet
  • Q1 2021. Following license granted: Reg. D license, EMI license UK, EMI license Estonia, EMI license Eurozone, EMI license Singapore, Banking license Cayman Islands); Crypto Bank: business projects investment platform development; Financial derivatives trading
  • Q2 2021. Crypto Bank consulting and trust management; Initial Wallet Offering
  • Q3 2021. Crypto Bank iOS and Android apps completed
StartJuly 22, 2019
EndJuly 22, 2021
548 days left
Soft cap$1 000 000
Hard cap$30 000 000
Minimum investment0.10 USD
Tokens for sale500000000

After getting a better insight into the issues with the Ethereum network, with all its scalability problems, time bomb, and clogging, I decided to disregard the fintech startups that offer the products on the basis of that blockchain. I reckon that Stellar, EOS, or even TRON, are far better platforms in the long run, though they are currently underperforming in comparison to Ethereum. That is why stopped reading the PointPay whitepaper after getting finding out on which blockchain they have built the three-faceted ecosystem.

Know1tAll   January 8, 2020  

When I first saw the introduction to the PointPay project, I was nothing more than skeptical. "Ah, here is another crypto bank that boasts about disrupting the financial sector - so boring," I thought to myself. But after getting a better insight into PointPay and its ecosystem, I have changed my mind. The team has already rolled out a functioning cryptocurrency exchange and digital wallet, which is uncommon for most ICO projects.

User120984   December 12, 2019  

I have two points of concern regarding PointPay, the first being the very serious issues with the scalability of the Ethereum network. You probably remember how it got totally congested because of the Crypto Kitties game - a simple game, while we are talking about a fully-fledged banking network here. It won't work until Ethereum 2.0 is launched and fine-tuned. The second issue lies in the immense opposition from central banks towards similar innovative solutions.

Aurora   December 1, 2019  

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