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Revuto Raises $1.7M To Support Payment Development on ADA

Revuto Raises $1.7M To Support Payment Development on ADA
  • Revuto raises $1.7 million on its private round.
  • The team plans to support the development of a crypto payment solution on Cardano.
  • Revuto will be conducting a live event on Youtube on May 19, 2021.

On Tuesday, Revuto completed a $1.7 million private token sale. The token sale proceeds will help deliver a subscription payment solution on Cardano.

In addition, the Revuto app has also recorded more than 1 million registrations in just 14 days. Surprisingly, one of the reasons for its fast-growing registrations is its referral program.

In line with this, starting at 8:00 AM UTC on May 19, 2021, the Revuto team will initiate a live event on Youtube. Here, they will be announcing their first public token sale on Cardano.

Prior to this, Revuto successfully launched the public sale of its native token REVU. Thus, several leading blockchain investors participated in the recent private round. BlackDragon VC led the round and attracted many other investors.

Josipa Majic, Revuto’s CEO stated,

We’re grateful to our private investors, including BlackDragon, for believing in Revuto’s team and tech, and for sharing our vision of making crypto spendable in everyday life. Having the right funding and investors that back our long-term vision is crucial.

It should be noted, Revuto is the first decentralized app (dApp) to launch on the Cardano blockchain. Consequently, Revuto also demonstrates the ADA network’s ability to support high transaction volume at a low cost. In fact, REVU can support recurring payments, for instance,  movie and music subscriptions, cosmetics, food, and more.

Apart from this, REVU will be used to align incentives in the Revuto ecosystem. Moreover, the token will be used to unlock additional features and benefits. Lastly, it provides staking rewards and can be utilized for microlending in Revuto’s dApp.

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Britney is a market analyst who covers stories about the cryptocurrency world. She holds a Business Administration Degree in Finance and aims to let the readers understand crypto from a beginner perspective.