Last Thursday, an innovative partnership agreement in the field of Fintech between SnapSwap and LuxTrust was signed at the Ministry of Economy. This collaboration concerns the integration of the LuxTrust’s electronic identification into the Gloneta’s mobile application, an app combining messaging and instant financial transactions based on Blockchain technology. The holders of a LuxTrust certificate will be able to use the services offered by Gloneta without conducting an additional authentication process. Marking the entrance of LuxTrust in Blockchain, this partnership demonstrates the complementarity of trust services and LuxTrust identity with the area of Fintech.
Gloneta is a free way to send money to people internationally, from one currency to another.
We got the chance to interviewed Gloneta’s founder and CEO Denis Kiselev in June and to have more insights into his solution. In a few words it’s a free way to send money to people internationally, from one currency to another. It works like a messenger app, where people can chat with friends and family — and now you can send money in the messages too.
What is the purpose of your startup?
Our mission is to build innovative financial products that allow consumers and businesses to participate in the global economy by bringing down barriers such as cost, complexity and processing delays. We are employing the cutting-edge technologies of the emerging Internet of Value to foster financial inclusion and efficiency.
What products/services do you offer?
Our product is an application for smart phones called Gloneta, that allows our customers to chat and to send money within their chats. Gloneta is a free way to send money to people internationally, from one currency to another. It works like a messenger app, where customers can chat with friends and family, but now they can send money with their messages too.
Gloneta cuts out bank fees and automatically converts currencies at the best FX rate.
What is your business model?
Our business model is freemium. Basic services are free, customers pay only for premium services and content.
Who are your customers/clients?
Our initial customers are travelers, expats, people with obligations in multiple countries and various currencies, those, who can benefit from an easy and free way to send and receive funds with their friends and relatives.
Who are your competitors?
On one hand – peer-to-peer payment applications like Venmo in the US or Swish in Sweden, on the other hand – social communication apps like Viber or WeChat in China.
What are the next steps of your strategy?
We plan to open unlimited access to our service in EEA countries and expand to other regions via local partnerships.