Revuto Completes $1.7 Million Funding Round as is Set to Launch on Cardano
Blockchain-based project Revuto has entered into a strategic partnership with Cardano and will launch its decentralized application on top of the latter’s blockchain. Both parties aim to enhance recurring DLT-based payments for various subscriptions, including movies, music, cosmetics, food, and more.
Revuto Goes on Cardano
By utilizing blockchain technology, Revuto enables its users to “save money regardless of crypto market conditions.” They can subscribe to different services using the project’s debit card, the built-in wallet, and the accompanying app.
Following the latest partnership with Cardano, Revuto will also enable multiple Cardano-native tokens to be utilized on the wallet.
Furthermore, the project will be the “first decentralized app (dApp) to launch on the Cardano blockchain.” Consequently, it plans to “demonstrate the network’s ability to support high transaction volume at low cost.”
By employing Cardano’s blockchain, in particular, Revuto will decrease the costs required for users to pay for their subscriptions. They can vary from the movie and music industry to household goods, cosmetics, food, and other types of repeat billing.
The REVU Token’s Role
The statement also indicated that Revuto had completed a $1.7 million private round to support its development. It preceded the public sale for the project’s native cryptocurrency – REVU token, which is scheduled to take place on May 18th.
Participants in the Revuto ecosystem will receive the coin as part of the incentives for their contribution. Moreover, the token will be used to unlock “additional features and benefits.” Some of those include staking rewards, and users will also be able to utilize the asset for microlending within the app.
Commenting on the aforementioned developments, Revuto’s CEO, Josipa Majic, outlined the support his team has received from names like BlackDragon VC. Additionally, he sees mass crypto adoption coming only if users are able to spend their digital assets easily in everyday life.
“With a large community having assembled around Revuto already and registered their interest in participating in the REVU token sale, the stage is set for a successful launch of the Revuto app. This will bring crypto-powered subscription payments to a global audience, giving digital assets the same utility as fiat currency.” – he concluded.