Acudeen Monthly Update: ACU Shines In First Exchange Listing
ACU listed on BTCEXA
The ACU Token was successfully listed on the BTCEXA Exchange last August 24th at an initial price of US$0.005 and went up to as high as 46% on its first day. As of writing, the ACU Token is priced on the exchange at $0.01 and is expected to increase in volume even further over the next few weeks.
This listing marks the first of several planned exchanges in the roadmap, but for the meantime the ACU/BTC pairing will be launched in BTCEXA on September 12th at 18:00 Singapore Time (UTC +8). The ACU/ETH pairing will follow, with details to be announced when available.
Co-Development with IBM Singapore
The Acudeen team officially kicked off its first co-development phase with the IBM Team in Singapore. The AssetChain Core is built on the backbone of the Hyperledger Fabric, which allows users to create and share keys on a permissioned blockchain. This partnership ensures that the system being developed is the
This feature is an important factor in the new Acudeen platform as it allows both funders and sellers to securely share sensitive information with each other in order for them to validate and review past and current transactions before they proceed, strengthening credibility and decreasing the probability of fraud. The distributed registry also serves as reference for bidders to avoid conflict or confusion when attempting to purchase receivables. Acudeen will continue to work with the IBM team over the next few months up until its full network’s initial launch in the third quarter of 2019.
Acudeen CEO Recognized as Fintech Influencer in the PH
Acudeen’s Chief Executive Officer Magellan Fetalino was recently recognized by Fintech Philippines in an article by Tom Noda.
Mario Jordan “Magellan” Fetalino III is the Founder and CEO of Acudeen Technologies, Inc., an online peer to peer marketplace for receivable discounting in the Philippines. He is currently a Member Board of Trustee of Fintech Alliance Philippines and a Board Director of the Philippine Association for Digital Commerce and Decentralised Industries (PADCDI).
Magellan also used to serve as the Chairman of the Board of The Global Filipino Investors, one of the biggest financial education companies in the Philippines. Launched in 2016, Acudeen is regarded by IDC as one of the Top 10 fastest growing fintechs in the Philippines. The fintech startup is winner of Seedstars Global 2017 & Founder Institute’s Best Global Fintech 2017.
ACU to be Utilized in Acudeen’s Receivable Discounting Platform
Beginning this November 2018, the Acudeen Platform will formally implement the ACU Staking Mechanism which provides different fee reductions at different tiers, depending on the amount of ACU tokens held. The lowest possible amount to stake would be 10,000 ACU which gives a 10% fee reduction on up to $1,000,000 transaction volume per year and the highest is at 100,000,000 ACU with a 50% fee reduction and other exclusive benefits. Staking is also a good way to prevent fraudulent transactions as users are penalized if their actions are deemed to be so.
Progress has been quite steady after the Token Sale concluded in June of this year. Acudeen’s main business function has also since then expanded in the region under the Kyopay brand in Myanmar. The Acudeen team expects to fully develop the blockchain ecosystem (see image above) before its initial launch in 2019, beginning with the implementation of the staking system in November of this year. To find out more about how the AssetChain Ecosystem can help you and your business, read our introductory article here.