LONDON, June 22, 2018 /PRNewswire/ — BABB, a UK-based financial venture that uses blockchain technology and biometrics to offer access to banking services for all, is soon to hold an equity crowdsale. The sale will raise money to cover the regulatory and legal costs of obtaining a banking license, and will give investors the opportunity to own equity in the company.

The equity crowdsale is expected to open to the public next week. Prospective investors can express their interest here in order to receive an invitation once the crowdsale is live.

BABB will provide people around the world with access to a bank account and banking services through its app, which is due to launch in beta before the end of the year. Customers can open an account on their smartphone simply by taking a selfie and saying a passphrase.

They gain access to a peer-to-peer network which makes it quick and cheap to transfer money, lend to and borrow from other users, and exchange currencies. BABB seeks to revolutionize the financial industry through innovative applications of blockchain technology.

It has developed a cryptocurrency, BAX, which underpins the platform along with the mobile app and BlackCard. What’s more, BABB has developed tools which central banks, and other institutions, can use to issue their own digital currencies and conduct financial inclusion initiatives. Read more from benzinga.com…

thumbnail courtesy of benzinga.com