TenX
Crypto Overview
Project Overview
TenX (PAY) was a cryptocurrency project that aimed to make digital currencies spendable in everyday life through a payment card system. The project sought to bridge the gap between cryptocurrencies and traditional payment systems.
Current Status
As of 2024, the TenX project is no longer active. The company ceased operations in early 2021, and the PAY token is effectively defunct. The project's websites are no longer operational, and trading of the PAY token has been delisted from major exchanges.
Historical Purpose
TenX's original purpose was to facilitate cryptocurrency payments through a Visa card system that would allow users to spend their digital assets at traditional retailers. The PAY token was intended to serve as a utility token within this ecosystem, with token holders receiving rewards from transaction fees.
Development and Adoption
Before its closure, TenX had achieved some milestones in terms of developing its payment card system. However, the project faced regulatory challenges and ultimately failed to achieve sustainable adoption of its services.
Crypto Impact
To assign a comfort level investing in TenX from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to TenX.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.