BXX Becoming the First Multichain Financial Protocol

12.12.2022 is here: And it’s a big day for BXX.

The last few months have been incredibly exciting for the team at Baanx. We have launched Ledger CL in both Europe and the UK (with USA in early test phase with a full launch coming in 2023). We have launched our programme with Reef and signed our biggest client to date, with nearly 400m monthly active users (more information coming shortly). We have onboarded over 25,000 new users in the last 30 days and this is just the beginning of our ramp up — with waitlists of over 800,000 individuals for the Crypto CL card. Rest assured, we are working non-stop to get everyone their card as soon as possible.

The team has been working on plans to develop the BXX network and token to best serve our users and partners. As such we have decided to expand the scope of BXX to build onchain to serve users spending, borrowing and lending needs: We are delighted to announce that BXX will become the first multichain financial protocol in 2023.

This changes means not only will we deliver all the benefits users had originally signed up for, but through enabling onchain spending, borrowing and lending, we pivot BXX towards being a fully fledged protocol, which will help support ecosystem growth and enable new products to be built and deployed at scale, faster.

We are currently working with multiple chains to complete technical analysis and will publish a revised whitepaper in Q1 2023 to take account of these exciting changes. We envisage building multichain, and with the support of a primary chain — and we already have numerous offers to choose between to provide funding, investment and assistance in building BXX.

By building out a protocol we will be able to add significant functionality and create a clear road map for the future growth of BXX and Baanx.

The milestones are as follows:

Jan 2023: Reveal the full roadmap for the BXX Ecosystem including the new Foundation. To include tiered incentives across our partnerships and benefits for holding BXX tokens.

Feb 2023: Updated Whitepaper for the BXX Token Programme.

March 2023: Technical analysis published on the BXX multichain strategy.

Q2 2023:

• Launch of the BXX protocol.
• Launch of BXX+ as an onchain, merchant funded loyalty and rewards programme.
• Grant programme to be announced. To help grow the BXX ecosystem.

Simon Jones, CEO of the BXX Foundation commented “We believe that by building onchain, we can make the BXX Protocol a market leading product, linking Web3 to the real world. Our mission is to put the benefits of decentralisation into the hands of millions of users and by building out the BXX Protocol, we are taking a major step towards achieving this goal.”

Garth Howat, CEO of Baanx commented: “Undoubtedly, this year has been very intense for many reasons, but here at Baanx, we know how to grab opportunities that we come across. So we couldn’t not take this opportunity to further develop BXX and build onchain. Not only will this be another major milestone in our mission of bringing Web3 to everyday life, but will also expand the BXX ecosystem and give the power of DeFi to thousands of users through exclusive benefits. BXX is for sure a game-changing product!”

Kieron Cartledge, CSO of Baanx and BXX token adds: “As this year comes to a close, we have many plans for 2023 that we look forward to sharing with the BXX community. This includes the development of BXX on-chain. This will take us one step closer to fully offering DeFi benefits and launching BXX to Pluto!”

The BXX team will be hosting an AMA on the 20th of December at 5pm UTC to discuss our exciting plans for 2023 and beyond.

Thanks again to our strong community believing in us and we are glad that you are here with us.

The BXX Team