Change Bank – Estonia CAG ICO Decentralized Cryptocurrency Bank?

Change claims to be a truly decentralized crypto bank based around the Change Coin. Find out how it works today in our Change Bank review.

What Is Change Bank?

Change is a global bank based around cryptocurrency. The company is currently preparing for its ICO.

The goal of Change is to provide “a revolutionary service to people from all over the world.” They want to remove borders in the financial sector and ensure that every citizen can access alternative financial services, “finally ending the artificial monopoly created by local regulators and traditional banks.”

The bank’s ecosystem will involve the use of Change Coin. Change Coin is being sold through the ICO at a price of 1 ETH = 500 CAG. The ICO begins in mid-September 2017.

Change was founded in Singapore in Q1 2016.

Change Bank Features

Change advertises all of the following features in its whitepaper:

Global Onboarding:

The Change mobile app starts with an electronic Know Your Customer (KYC) platform capable of onboarding users from anywhere in the world in record time. The app automatically validates the users’ transactions with other third-party service providers through tokenized KYC information sharing. To assist with the onboarding process, Change has partnered with the country of Estonia’s e-residency program.

Universal Crypto Wallet:

The Change crypto wallet promises to give users control over their cryptocurrencies in the most intuitive and easy way possible. Change’s application facilitates the storage of all major cryptocurrencies. It makes it easier to manage your crypto portfolio while simplifying the transfer of funds between peers. In the future, Change is also planning to add a wide range of other wallet-like functions to the app.

Card Payments:

Today, cryptocurrency users can struggle to exchange digital coins for goods and services in our everyday lives. That’s why Change will issue a Change Card that allows users to spend their digital funds online and offline wherever credit/debit cards are accepted.

Fee Structure:

Change is a fully digital bank, which means it has less overhead than traditional banks. The company promises to offer a transparent approach to fees. Users aren’t charged for having an account, transferring funds, or making payments.

Redefining Cash Back:

Users are rewarded for using the Change Card and other third party services on the platform (online or offline). They receive part of their transaction back in the form of Change Coins. So you don’t get cash back – you get Change Coins back.

Enhanced Security:

Change secures its platform using blockchain technology. Additional security features include the ability to lock the Change Card from your app, anytime.


Change wants to be more than just a bank. The company also wants to introduce a marketplace where users can invest in stocks, P2P lending opportunities, real estate, travel, and more.

How Can Change Bank Be Used?

Change can be used for all of the following tasks and purposes:

Spending Cryptocurrency Globally:

You can top up your Change Card with a digital currency of your choice, then use that card wherever traditional payment cards are accepted. Just like with other digital banks, Change wants to make it easy to spend your funds in the real world.

Diversify Your Investments Globally:

Holding all your investment strictly in digital coins may not be a good idea. Change wants to help users diversify their investments by making it easy to invest in real estate worldwide, or to participate in P2P lending through the platform.

Global Travel:

In 18 months, the Change API will be opened to credit and insurance. That means you’ll be able to purchase travel insurance from the Change marketplace. Certain users will also automatically have travel insurance coverage through their card.

Who’s Behind Change Bank?

Change is led by Kristjan Kangro (CEO), Artur Luhaäär (Partner, CEO of Smartly), Gustav Liblik (Partner, CEO of First Meta), and Edgars Simanovskis (CTO, Blockchain Developer).

Change has conducted regular meetings with companies across the FinTech and cryptocurrency space. Smartly, for example, is a Singapore-based robo advisor while BitOfProperty is a real estate crowd investment platform. Change may implement these services into its platform in the future.

The company is based in Singapore. Change was founded in Q1 2016.

What Is Change Coin?

The Change Coin is a cryptocurrency designed as the flagship currency in Change’s ecosystem. The ecosystem will support BTC, ETH, LTC, Change Coin, and all major cryptocurrencies.

Change Coin will be used as part of a cash back program. Every time a user makes an online or offline payment using their Change Card, he or she will receive a 0.05% rebate in the form of Change Coin. That rebate doubles if the user spends using Change Coin.

Change Coin holders will also receive profits from the Change Marketplace. Specifically, third party service providers selling goods and services on the Change Marketplace will share 20% of their revenues with Change users.

Change Coin will also be a utility token and will form the backbone of any transactions that take place within the Change banking platform.

The Change Bank ICO

The Change ICO is scheduled for September 16, 2017 at 7pm Singapore time (UTC+8) or 12pm London time (UTC 0).

There will be a hard cap of 250,000 ETH for the entire ICO. 40% of the total supply of tokens will be sold through the ICO. 1 ETH will buy you 500 CAG.

Bonuses are available based on the first 24 hours, first week, and second week. The ICO is open to anyone except those living in Singapore or the United States.

Change Bank Conclusion

Change aims to create an international crypto bank that offers card-based spending, seamless international transfers, and other banking services. The bank’s ecosystem revolves around the use of Change Coin (CAG).

Stay tuned for more information about the Change Bank as the company prepares for its ICO in mid-September.

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