Singapore-based fintech chat application Consentium has raised a total of $20 million after its latest round of private sale. The proceeds include the $10 million it had raised in March.
In an announcement on Tuesday, Consentium said it will use the funds to build its fintech chat app.
The company, which claims to be Asia’s first multi-digital currency and group monetisation chat app, allows peer-to-peer (P2P), multi-digital currency transfers between users. It also offers a transactional fee redistribution programme as an incentive to create and cultivate strong in-app communities.
The application’s token, Consentium Coins (CSM), are based on an Ethereum-based platform. During the next one year, it plans to roll out support for additional features, it said.
Last month, the company announced its partnership with security firm ThothTrust to manage the overall security for Consentium, mainly focused on wallet encryption methods. Through its Customizable Secure Cryptography (CSC) product, ThothTrust provides a consultation and customisation service to secure critical crypto assets.