Mobile payments app Hush to run ICO

Source: Hush

Chaineum, the first French boutique specialized in raising funds through Initial Coin Offerings (ICO), has announced a new ICO for Hush, the European mobile app, an alternative to banks.

The offering is fully compliant with regulatory requirements governing ICOs. Chaineum is handling end-to-end management of the fundraising, with pre-sales to debut the week of 22 January.

Luxembourg-based Hush proposes to develop a mobile app conceived by Eric Charpentier, who previously founded the neobank Morning in France. To reinvent a mutual finance for today’s mobile world he has put together a team of experts who combine intimate knowledge of banking regulations and cryptocurrencies. Hush’s ambition is to propose the first mutual offer using digital tokens to offer simplified services. Customers can manage and use their money in different currencies and/or cryptocurrencies.

“The growing use of cryptocurrencies and the accompanying increase in Initial Coin Offerings, or ICOs, create exciting opportunities to transform the banking experience by leveraging the collective power of community members to both innovate and at the same time guarantee sustainable economic independence,” says Eric Charpentier. “Our vision is to forge an active community with a two-fold objective:
- provide people who are comfortable with cryptocurrencies with a stable, regulated environment to develop everyday use of euro-denominated cryptocurrency,
- create opportunities for people who are new to cybercurrencies to discover their potential while taking advantage of a mobile service that includes innovative currency exchange services.”

To achieve this, Hush is pursuing a rational, pragmatic and educational strategy.

Hush will shortly lodge an application for approval as a European Payment Institution. When receiving this approval, Hush will offer a range of premium services aligned with new customer expectations:
• New account opening by invitation and sponsoring the first year
• Premium payment card with enhanced security features and innovative applications
• Cryptocurrency wallets for totally secure investment management
• A realtime cryptocurrency exchange/conversion app to allow transactions at any time
• Proactive offering of context-driven insurance and guarantee services
• A dedicated “project” account to let people fund and develop their project by setting objectives.

Hush’s ICO is designed to guarantee a stable bank capital management strategy for its customers while ensuring the financial independence of the company. The bank will introduce a collective governance model that includes customers, unifying a community around shared convictions and promoting the use of cryptocurrencies. These objectives revolve around use of the USH token, designed as an instrument representing shared values.

The unique business model of USH tokens is anchored in long-term objectives.

These USH tokens offer holders a series of distinctive benefits:

• A participative voice in the project: Through the Hush Ambassador programme, Hush users who are USH holders will be invited to formulate proposals for USH services and functionalities and to vote on the development of proposals submitted by other USH holders.
• Monthly rewards for engagement: All Hush users who are USH holders and part of the Hush Ambassador programme will receive a monthly reward calculated according to their participation and badges. This reward is financed by a fund into which a monthly commission of 0.2% on card payment and currency exchange transactions is paid.
• Financial report on net profits: USH holders are entitled to a financial reward paid in USH corresponding to 10% of net profits (after taxes) from the commercial activities of Hush, distributed on a pro rata basis according to the number of USH they hold.

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