Electroneum is a UK-based cryptocurrency consisting of around 50 employees. Launched in 2017 with a $40 million ICO, its platform aims to provide a mobile-first payment solution for the world’s unbanked population, which to this day accounts for more than 1 billion people worldwide. Whilst the Electroneum app enables anyone to hold and transfer value in ETN instantly across the world at very little cost (a fraction of a US cent), it’s their complementary platforms that have reportedly led the company to acquire 4+ million users worldwide.
Continuing its focus on giving individuals with only access to smartphones a cheap and easy way to spend money all over the world, Electroneum launched its wallet manager in December 2017. In March 2018, Electroneum launched the first Android mobile “mining” application where people could take advantage of the processors of their device to mine ETN coins. In April of the same year, it secured a patent for instant crypto transactions.