Review on Everex by Fabrizio Zampieri

Name: Everex
Item: Everex
Rating: 2

March 26, 2019

Everex is a financial tech company that provides blockchain-powered solutions…

Everex is a financial tech company that provides blockchain-powered solutions for financial service providers and their customers. Everex’s platform enables cross-border money transfers, direct payments, crypto/fiat currency exchanges and lending over the blockchain.
Everex’s current focus is launching international remittance businesses within the Greater Mekong Subregion (Thailand, Myanmar, Vietnam, Laos, Cambodia and South China) for both individual and SME payments.
Everex also offers competitive exchange rates and fast money transfers on the euro (EUR), Thai baht (THB) and other currencies using blockchain technology. Instead of making a direct trade of EUR for THB, user first deposit EUR with Everex, converting it into e-Money. Everex will then credit an equivalent amount of eEUR instantly on its blockchain-based e-wallet, which allows users to trade eEUR for eTHB, with several possible withdrawal options and cash-out points. The e-Money currencies (eEUR, eTHB) act as a fiat-backed stable coin. 
Everex offers the following products: Ethplorer, eMoney Smart Contract, e-Wallet, Chainy (you can find more info and details on Everex official website).
Everex (EVX) is an ERC-20 token based on the Ethereum blockchain. Everex has a current supply of 25 million EVX with 22 375 000 EVX in circulation. 
EVX is tradable on the most famous exchanges as Binance, Huobi Global, HitBTC, IDEX, Mercatox, Tidex and BX Thailand.
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Pros

- Everex’s ideal customers are global entities that deal with electronic money, payments and FX trading or transfers that are looking for new business opportunities in the traditional and cryptocurrency sectors. - Significant costs cutting by reducing the number of financial intermediaries in cross-border transactions. - Optimization of payments for corporations and individuals via blockchain technology for transfers and payments in different currencies. - Innovative and alternative business, such as international remittances, national/cryptocurrency exchange, and trading and cross-border lending for individuals, non-financial and financial services companies without using legacy payment systems, such as SWIFT. - Great solution especially for underserved emerging market consumers (for example, migrant workers sending money back home).

Cons