Ubonium aims to disrupt the $3 trillion exchange traded fund (ETF) industry. Find out how it works today in our review.
What is Ubonium?
Ubonium, found online at Ubonium.com, sees itself as “the next Vanguard for exchange traded crypto funds.”
Obviously, Vanguard has been able to launch a successful portfolio of massive exchange traded funds, or ETFs. Now, Ubonium wants to do the same for its Exchange Traded Crypto-Funds, or ETCFs.
Ubonium will launch three core products with the goal of disrupting the $3 trillion ETF industry and the $350 billion mobile payment industry, including a payment platform, a cryptocurrency bank, and a marketplace for cryptocurrency ETFs.
How Does Ubonium Work?
Ubonium will offer three core services, including Ubopay (a payment platform), Ubobank (a global cryptocurrency bank), and ETCF Market (a global exchange for crypto funds).
Ubonium will also have its own currency called Ubocoins. You’ll be able to buy or sell any ETCF UBO funds with zero fees.
A token sale for Ubocoins is scheduled for March through May 2018.
Benefits of Exchange Traded Crypto Funds
Exchange Traded Crypto Funds, or ETCFs, will offers investors all of the following benefits, according to the official Ubonium.com website:
- Low volatility
- High liquidity
- Invest in a diversified digital asset easily and instantly
- Enjoy transparency and security
- Instant transactions on the blockchain
- Investors can store ETCF tokens in their own wallets
- Low costs, as investors pay a flat fee of 0.45% every time they buy or sell a token (it’s unclear if investors still pay ongoing fees for investing in the ETF, or if this is the only fee for participating in the ETF marketplace)
- There are no limits on buy or sell quantities
Ubonium claims ETCFs are superior to traditional ETFs because traditional ETFs require investors to wait 3 days for settlement. Investors also cannot keep the securities. Plus, traditional ETFs are only tradeable during certain times of the week – like when markets are open. ETF providers charge high middlemen costs, and buying is limited to certain quantities.
How Does Ubopay Work?
Ubonium will release its own payment platform called Ubopay. That platform will also have a card called Ubocard, described as “the only card that you need to use your crypto coins or local currency anywhere, anytime.”
Users can easily transfer between their Ubobank account and their Ubocard at no cost using the simple application. You can choose to store cryptocurrency or fiat currency – or both – on your account.
How Does Ubobank Work?
Ubobank aims to provide “banking as a service” or BaaS, for the cryptocurrency community, allowing users to store, send, receive, transfer, exchange, or invest cryptocurrencies and fiat currencies.
You can link your Ubocard with Ubobank to easily transfer money to and from your card. Ubobank will also offer full ATM and point of sale (POS) support for its card, allowing users to use their cards at 50 million retail locations worldwide – along with any ATM.
Some of the core features of Ubobank include:
- Multi-signature cryptocurrency accounts
- Bank-grade internet security
- Full KYC/AML compliancy
- Built-in exchange for trading fiat currencies and cryptocurrencies
- View your total balances with a click
- Integrated with Ubopay
- 0% transfer fees when transferring Ubocoins
- Mirrored vault access technology, including cold vault balances that are mirrored into user’s virtual accounts in real-time without exposing wallet addresses
- Secured and encrypted passwords to access virtual accounts
Meanwhile, the built-in exchange will allow users to transfer fiat currencies and cryptocurrencies without leaving their Ubobank account.
The Ubocoin Token Sale
Ubonium is selling Ubocoin tokens (UBO) during the ICO. Of the total maximum supply of 300 million tokens, 70% are allocated to the public sale, with the remaining tokens split with founders (10%), the team (5%), early backers (5%), bounties and referrals (5%), and a reserve fund (5%).
The token sale began on March 1 and will continue until May 10, 2018. Tokens are being sold at a base rate of 0.001 ETH during the token sale.
UBO tokens are ERC20 tokens built on the Ethereum blockchain. Ubonium has set a hard cap of $60 million USD for the token sale with a soft cap of $3.5 million.
The Ubonium whitepaper advertises Ubocoin as an “investable, scalable, secure and usable” asset. They’re utility tokens. if you buy ETFs using Ubocoin tokens, then you won’t be charged the usual 0.45% fee. Ubonium’s whitepaper also specifically tells investors that the token “will appreciate exponentially” in value as the Ubonium platform rolls out.
Who’s Behind Ubonium?
Ubonium is led by Kumarasen Kannan (Founder and CEO), the founder of Wealthronics Inc. Kannan co-founded the company with Shashi Kumar, who has 10 years of experience as a software engineer, including work with IBM.
Ubonium was launched in Kuala Lumpur, Malaysia in December 2017. However, the company is officially registered as Ubonium Technologies Limited, UK, and some company documentation lists London, UK as the headquarters.
Ubonium UBO ICO Conclusion
Ubonium describes itself as “a financial company offering innovative next generation financial products and services on the blockchain network to the masses.”
Some of the key goals of the company are to launch an ETF marketplace for crypto funds. Users will be able to easily purchase crypto ETFs from that marketplace. Then, you’ll be able to store crypto ETFs in your wallet in the form of digital tokens.
Other core products offered by the company include Ubopay – a payment platform – and Ubocoins – a digital currency. To learn more about Ubonium and how it works, visit online today at Ubonium.com.