AMA Session with Sean Salloux from Baanx (BXX)
Guest: Sean Salloux, Chief Revenue Officer of Baanx
Host: Iris of MEXC Global
Iris: Today, we’re honored to have Sean Salloux, CRO (Chief Revenue Officer) of Baanx, to our community to give us a more intuitive introduction to their unique project
Sean, nice to have you with us again for an AMA.
Those who missed the AMA we did last time, please read the recap here: https://medium.com/mexcglobal/ama-session-with-sean-salloux-from-baanx-bxx-523d26b63073
For those who didn’t know you from the last AMA, would you like to introduce yourself once more?
Sean: I’ve spent the last 25 years developing fintech products and leading global tech companies at the VP, board, and C-suite levels. Played key roles in developing and launching two unicorns in their early startup phases: Vungle and WorldRemit. Launched the world’s first e-wallet on a credit card back in 1999 for MasterCard and in collaboration with major Korean and Japanese banks. Since then, I’ve launched mobile and digital products for several global financial players including Gemalto, MasterCard, WorldRemit, and others. I was involved with e-wallets and HSM (Hardware Security Modules that provide the backbone for wallets, multi-psig, etc.) starting back in 1999…
Questions about the project
Iris: Why is it important to stake with BXX?
Sean: $BXX is the token powering the Baanx ecosystem with free secured lending & services.
Staking BXX at different levels not only gives you passive interest but access to many services & products of the Baanx ecosystem, such as:
🔹1000 BXX Tokens — Free Bank Card (physical/virtual depending on location).
🔹5,000 BXX Tokens — Access interest free secured lending up to $5,000, subject to LTV.
🔹100,000 BXX Tokens — Access interest free secured lending up to $100,000, subject to LTV.
🔹5,000,000 BXX Tokens — Unlimited interest free secured lending, subject to LTV.
Your BXX is safest in your Baanx wallet so why not stake it? 25% APR is a great return, live now in the Baanx App (iOS and Android)
Iris: What is the big news you’ve announced last week?
Sean: Baanx becomes the third-largest shareholder in the United States regulated Maxwell State Bank in a multi-million-dollar deal to enhance our banking product, to launch to crypto communities throughout America, and allow our EU and Asian clients to launch in the USA faster and more securely.
Maxwell State Bank is a fintech bank and VISA Principal Member established circa 1943 in Iowa. With total deposits of $25,058,000 Maxwell has been FDIC certified since 1943 for insured deposits. Maxwell was acquired by serial fintech entrepreneur Ronald Ingram, founder of multi-billion dollar fintech programs and companies. He has ambitious plans to make this bank the most secure and future-proof bank in America by expanding their services. He plans to achieve this by working with fintech leaders in cybersecurity, cryptography, tokenization and private/public key infrastructure companies.
Can find the details via this link: https://news.bitcoin.com/baanx
Iris: What is Baanx’s next release?
Sean: Tezos Crypto Life, being rolled out this month by Tezos & other major brands in the industry. Will include staking and ‘free’ secured lending for staking XTZ and other crypto assets.
Iris: How is the value of BXX going to grow?
Sean: The Baanx.com Ltd services are complimentary to Baanx Group services so the wider Baanx community — including many Baanx corporate clients, will drive demand for BXX products and new services as they are added. Baanx Group customers like Akoin, Tezos, Stex, DeFis, exchanges, Banks + Financial institutions want to give their community access to free and low cost lending.
Our pipeline of lending customers is growing and the Baanx global sales team is expanding with new offices in the USA, Middle East, and Asia.
Iris: What’s coming up in 2022?
Sean: Firstly, take a look at our updated product roadmap if you still haven’t. There’s a lot coming:
🔹 DeFi customers go live with physical & virtual cards.
🔹 Partnerships with NFT & GameFi projects.
🔹 Baanx will launch Unicorn customers in the EEA and the US.
🔹 Followed up by the launch of physical + virtual cards, wallets and secured interest-free secured lending in the United States.
🔹 Q3-Q4 2022 expansion to Africa and LATAM.
And definitely another major CEX listing.
Iris: What makes Baanx stand out from its competition?
Sean: We have many unique features not found with other providers — like automatically linking to up to 5 of your crypto + fiat accounts so you never have to ‘load’ your card. We can launch cards with the top 3 schemes in the world, and we pioneered free secure lending.
Many crypto lenders are offshore and unregulated. This can limit their appeal, and excludes many FinTechs from partnering and/or offering their lending services. Baanx, has HQ and is based in the UK. With our USA Bank acquisition/investment (Maxwell Bank is FDIC certified since 1943 for insured deposits) we can securely enter the USA. We have a number of UK and EU licences directly and via regulated partners, and can work with the growing number of financial institutions that want to offer lending services to their corporate, retail, and family office clients- in EU + UK, and now the USA. We have a solid pipeline of over 20+ signed corporate clients we are rolling out on a regular basis.
The current team as well as advisors are highly experienced in Banking, mobile and FinTech areas- as well as crypto. We have a team of Leaders who have over 100 years of Bank and Fintech experience and background in Banking at key institutions such as BitPay, CEX.io, JP Morgan, Mastercard, Thales/Gemalto, Visa, Commerzbank, and many others.
Q1. Many new projects made a good impression at first but were suddenly abandoned. How will you manage the project and token to gain a place in the market and become a best token in the blockchain world?
Sean: We have raised over $15m in Equity (not token sales) — Some of our investors include: Tezos, UK Gov (investors) — British Business Bank invested millions in Baanx, Blockchain Founders Fund (investor, advisor, strategic), BankToTheFuture, Seeders, Monsas (large FX provider), Angel Network, and others. And have a world class team that has build successful fintech companies before.
Q2: Currently, NFT is very hot, do you think you will apply NFT technology to your products in the future?
Sean: We are working with a few NFT companies — we are providing fiat on/off ramps, and eventually lending against NFT — which are digital assets. Watch this space…
We also have sold over 600,000 physical and virtual cards — Mastercard, Visa, etc. and we have over 20+ customers, some live and a growing backlog. Many are interested expanding with NFTs, so we expect to see more in this space soon. We focus on launching products our B2B clients and their crypto communities want. Now, we are getting the word out on the BXX token which powers all this.
MEXC Global: https://www.mexc.com/
Twitter: https://twitter.com/MEXC_Global , https://twitter.com/MEXC_Fans