Growing startup support platform Yena hit its 6th birthday since its inception in 2013 this month and to celebrate we are announcing plans to connect the startup world through a connected credit card – dubbed ‘Yenacard’.
“In a world where service swaps are used to barter deals to grow bootstrapped companies with low or zero budgets, it’s hard to track where the value goes and who gets the best deal” says Yena founder, Ash Phillips. “We want to create a way that not only enables those without budget to access the support they need, but also to build up their ‘equity’ with other companies to call in for services & products in order to grow their companies”.
To do this, Yenacard will incorporate a utility token known as ‘Yenacoin’ which members will be able to trade with each other, using the titanium card for physical purchases in brick-and-mortar Yena member businesses.
Blockchain technology is rapidly becoming a core aspect for businesses with multiple stakeholders and network effects and Yena is no stranger to this. With members now based all over the world, operating in multiple currencies and ever-changing exchange rates, it hopes that Yenacoin and the Yenacard will be a force for good and lead by example in creating a practical way to apply new fintech technologies.
For those interested, the Yenacoin ICO will go live at the end of Q2 (date tbc) and the Yenacard will be available shortly after, in titanium white and the popular ‘blurple’ brand colour.