Telcoin (TEL)

Remittances

Telcoin enables fast, low-cost international money transfers, especially for migrant workers sending money home. It uses blockchain technology combined with mobile money platforms and e-wallets to make remittances cheaper and quicker than traditional services.

Mobile Financial Services

Telcoin partners with mobile network operators to provide user-owned financial products accessible on any mobile phone. This includes sending and receiving digital cash, direct merchant payments, and regulated blockchain banking services, aiming to serve unbanked and underbanked populations globally.

Decentralized Finance (DeFi)

Telcoin offers a DeFi platform called TELx where users can stake TEL tokens, provide liquidity, and earn rewards. It also integrates decentralized exchanges (DEXs) like Uniswap to create liquid markets for TEL and support remittance and other financial products.

Telecom Integration and Governance

Telcoin works closely with telecom companies, leveraging their global reach and infrastructure to distribute its services. Telecom operators run validator nodes on the Telcoin Network, securing the blockchain and earning network fees, while participating in governance decisions.

Digital Cash and Stablecoins

Telcoin uses multi-currency stablecoins as the backbone of its mobile financial services, enabling 1:1 native digital cash rails worldwide. This supports on-chain remittances and regulated blockchain banking, providing a stable and accessible digital currency for users.

Wallet and Payments

The Telcoin Wallet allows users to securely store, send, and swap digital assets, including TEL and stablecoins, on popular DeFi protocols. It supports remittances into popular e-wallets and mobile money platforms globally, making digital payments easy and accessible.

Pros

• Addresses real-world remittance issues by making cross-border payments cheaper, faster, and more accessible.
• Strong strategic partnerships with major telecom operators worldwide, including Orange, Vodafone, Deutsche Telekom, Viettel, and NTT.
• Cost-effective and fast transactions, leveraging mobile money platforms and e-wallets.
• Integrates KYC compliance through telecom companies, simplifying user verification with AI-powered identity checks.
• Built on the Ethereum blockchain, combining decentralized network benefits with telecom industry standards.
• Supports financial inclusion by targeting underbanked populations and enabling remittances via mobile airtime and money platforms.
• Offers a multi-signature DeFi wallet supporting over 100 digital assets and remittances globally.
• Has regulatory approvals in multiple regions, including the EU, Singapore, Argentina, and the US.
• Plans to open the first regulated crypto bank in the US, enhancing its financial ecosystem.

Cons

• Limited adoption compared to major cryptocurrencies, currently working with a small fraction of the potential market.
• The issuance model involves mobile network operators emitting electronic money, which may conflict with decentralization principles.
• Still in early development stages, with some goals not fully realized yet.
• Transaction fees include a 2% charge related to converting TEL to other cryptocurrencies and fiat.
• Faces competition and trust challenges common to cryptocurrencies in mainstream adoption.
• Price volatility and market fluctuations affect investment stability.

Founders

Telcoin was co-founded by Paul Neuner and Claude Eguienta in 2017.

Roles

Paul Neuner serves as the Co-Founder and CEO of Telcoin. Claude Eguienta is also a co-founder and has been involved as CEO and project head.

Background

Paul Neuner has over 12 years of experience in telecommunications and has founded other startups before Telcoin. Claude Eguienta has a Masters in Computer Science and has worked in startups and tech companies for over a decade.

Institutional Investors

Telcoin has raised a total of $10 million over multiple funding rounds. Among its investors are CCK Ventures, Chronos Ventures, CRT Labs, Optimista Capital, East Ventures, and FABB. These institutional investors have supported Telcoin's mission to provide affordable and fast financial services through mobile technology.

Individual Investors

Batara Eto, a notable investor and co-founder of Mixi, is also a key backer of Telcoin. He brings experience and value to the company, helping it grow and expand its reach.

Investment Rounds

Telcoin's latest funding was a Seed round completed in July 2021, which contributed to the $10 million total raised. The company has attracted a total of 7 investors across its funding history.

Summary

Telcoin's investors include a mix of venture capital firms like CCK Ventures, Chronos Ventures, CRT Labs, Optimista Capital, East Ventures, and individual investors such as Batara Eto. These investors support Telcoin's goal of revolutionizing global remittances and financial inclusion through blockchain and mobile technology.

Halal Status of Telcoin

Telcoin is considered halal because it operates as a mobile remittance network on Ethereum and its reward mechanism does not involve Riba (interest), Gharar (excessive uncertainty), or Maisir (gambling). Its business model focuses on legitimate financial services, particularly remittances, which are permissible under Islamic finance principles. This assessment is supported by the Crypto Halal Office for Monitoring and Sharia auditing on cryptocurrency markets.