All Posts By

belrium

Belfrics Group announces the launch of its KYC compliant Blockchain – Belrium

By | Press Articles | No Comments

Belfrics Group announces the launch of its KYC compliant Blockchain – Belrium

KUALA LUMPUR, MalaysiaDec. 24, 2018

Belfrics Group, a global blockchain technology firm that runs Fiat-crypto exchanges and blockchain development solutions across 10 countries, today announced the global launch of Belrium Mainnet – a first of its kind KYC compliant blockchain. Belrium aims to offer companies a secure, private, personalised and decentralised ecosystem that aims to minimize the repetition related to KYC compliance, saving considerable time and cost. Belrium is unique in this context as it enables businesses and enterprises to not only reduce the customer on-boarding time but also simplifies the compliance process by eliminating the need for repetition.

On the successful launch of the Belrium blockchain, the CEO & Founder of Belfrics, Praveenkumar said, “We are extremely delighted to see the mainnet go live. It has been an eventful year for Belfrics and the Belrium blockchain as we focused on getting governments and regulators to evaluate the strength and capabilities of our blockchain, rather than worry about the value of the instrument. Various national IDs, land records, universities, banks and charity organisation will soon be doing live transactions on Belrium blockchain. Our Belfrics Exchange itself is the first user of the Belrium blockchain as the traditional KYC verification system of the exchange will be replaced by Belrium blockchain verification.”

Public blockchains have traditionally struggled in terms of adoption with various regulators due to its nature of anonymity. Belrium, on the other hand, has been gaining traction silently due to its unique private and public combination blockchain. Santhosh Palavesh, the Chief innovation Officer of Belfrics Group said,“We have been constantly evolving the capabilities of our blockchain to align with the practical use cases of various industries. Belrium blockchain will have various national government transactions riding on our infrastructure in 2019. Belrium does not process any unverified wallet transaction on its public blockchain. The private blockchain, which is called BKVS (Belrium KYC Verification System) acts as the identity verifier for the wallets. We are the only blockchain to have a stringent financial framework which ensures data security, which is extremely crucial for government authorities.”

Along with the mainnet going live, Belfrics is also releasing two Dapps on the blockchain, a certificate issuance Dapp and a payroll Dapp. Praveen said,“These Dapps will give an easy access to small and medium enterprises to experience the capabilities of the distributed ledger technology within their business domain.”

About Belfrics:

Globally headquartered in Kuala Lumpur and having its development center in Bengaluru, India, Belfrics is one of the leading blockchain technology firms that runs fiat-currency exchange and blockchain developments across 10 countries. The company was created in 2014 by a group of competent entrepreneurs; who envisioned the opportunities and benefits of blockchain based solutions for the global markets.

Belfrics looks to sign on State govts for blockchain tech

By | Press Articles | No Comments

Inks pact with AP government

MUMBAI, MARCH 13

Belfrics Global, a Singapore-based blockchain solution provider and a crypto asset exchange, is looking to convince various State governments and departments to adopt blockchain technology. It has signed an MoU with the Andhra Pradesh government in this regard, according to its founder and CEO, Praveen Kumar.

State governments can use blockchain solutions in many ways starting from error-free issuance of birth, marriage or death certificates to ensure faster and accurate contract bidding to speedy legal trials.

“We have been liasing with various state governments for on-boarding various public services on the blockchain. Andhra Government leads in blockchain adoption and we work very closely with them. We are talking to few banks too,” Kumar said, adding that the company has had a good traction in its blockchain application development solutions and expects this business to grow at a 300 per cent CAGR.

Belfrics, which entered the Indian market with its crypto-asset exchange last year, witnessed a bumpy ride following regulatory challenges with regard to crypto-currencies, especially Bitcoins after banking regulator RBI cautioned users from trading or dealing in digital currencies. The last nail in the coffin was after Finance Minister Arun Jaitely announced in his Budget speech that crypto currencies were not legal tenders following which all the major banks in the country withdrew their support from the crypto exchanges such as Zebpay, Unocoin, Belfrics and Coinsure.

“We had added customers steadily throughout the year for our exchange operations but now have taken a decision to halt taking INR deposits and trading services since last month and a half,” Kumar said, adding that the focus is on expanding the blockchain consultancy and development solution.

Belfrics already has various governments, universities and many private enterprises as its clients for blockchain consultancy and development solutions. “With the Central government’s reiteration of blockchain adoption, we expect to make considerable inroads to Indian enterprises for blockchain services in 2018,” he added.

The company is also launching its flagship KYC-compliant blockchain, Belrium, in April this year. “We will be powering governments and private institutions with Belrium KYC layer post launch, which reduce the time and cost considerably for KYC verification,” Kumar said.

Belfrics Expands International Operations

By | Press Articles | No Comments

The news comprises a follow-up to announcements from Bahrain’s government in September 2017 that indicated the country’s intention to develop ‘sandbox’ legislation for the cryptocurrency, industryakin, to those enacted by Singapore and the United Kingdom. Alongside the announcement, Khalid Al Rumaihi, the chief executive of the Economic Development Board of Bahrain, then indicated the country’s desire to issue bonds via distributed ledger technology. The move has been perceived as intended to further Bahrain’s bid to become a regional fintech hub, despite the nation’s small population.

Founded in 2014, the Kuala Lumpur-based company presently operates in Singapore, India, Kenya, China, Indonesia, Malaysia Dubai and Hong Kong, in addition to providing point of sale (POS) and other payment technology to merchants wanting to accept cryptocurrency as a method of payment. Belfrics’ Singaporean exchange comprises what it describes as a ‘global exchange’ that provides cryptocurrency pairings using USD as its base currency, whilst the company’s other exchanges are described as ‘local’ – exclusively offering pairings in the national currency for the country in which the exchange is domiciled. Belfrics has also indicated its intention to expand its African presence by opening exchanges based in Nigeria, Botswana, and Ghana.

Central Bank of Bahrain Grants Sandbox License to Belfrics

By | Press Articles | No Comments

Malaysian-based cryptocurrency technology provider, Belfrics Global, has successfully received a mandate from Bahrain’s central bank to open a cryptocurrency exchange in the nation. The approval granted by the central bank of Bahrain is expected to give Belfrics access to the $50 billion USD digital transaction industry of the Middle Eastern/North African nation.

The Chairman and CEO of Belfrics Global, Mr. Praveen Kumar Vijayakumar, has welcomed the sandbox licensing, stating “We are excited to receive this approval from the Central Bank of Bahrain (CBB) as it provides access to a $50 billion digital transaction market in the MENA region alone. This is a first of many licenses that we are targeting for the year 2018. Bahrain is an ideal region for us to showcase our cryptocurrency-based payment systems, and with the help of CBB and other central banks, we will be able to implement our identity management solutions using the Belrium Blockchain pretty soon.” Jabeer KM, Belfrics’ Chief Operating Officer, described the approval as “a perfect start for the year 2018,” adding, “We are also working closely with central banks in Africa, Middle East and Asia to regulate the cryptocurrency space using our innovative KYC-based blockchain, Belrium.”

Belfrics Singapore launches Belrium ICO, the first revolutionary

By | Press Articles | No Comments

September 11, 2017, Singapore: Belfrics Global, the fastest growing cryptocurrency exchange and Blockchain development firm in Asia and Africa has launched Belrium ICO to power the 1st KYC compliant blockchain, Belrium. It offers customers a secure, private, personalised and decentralised ecosystem that aims to minimise the repetition related to KYC compliance, saving considerable time and cost.

Mr. Praveenkumar Vijayakumar, Chairman & CEO, Belfrics said, “The evolving regulations related to KYC compliance have made KYC-based systems more complex and have increased the time for customer on-boarding. That’s where Belrium turns out to be different. Businesses and enterprises across the globe unanimously agree that growing complexity and cost of KYC compliance are major reasons that affect outcomes from both organisational as well as customer perspectives. Belrium is unique in this context as it enables businesses and enterprises to not only reduce the customer on-boarding time but also simplifies the compliance process by eliminating the need for repetition.

At Belfrics, we are constantly striving to offer both experienced and new users a secure and reliable access to the world of cryptocurrency, ensuring that they receive the best return on investment (ROI). Unlike many other Initial Coin Offerings (ICOs) where the actual product is years away, we are not selling merely an idea. Belfrics has already established itself as a reliable digital currency exchange and a leading software development firm in more than eight countries including India, Singapore, Malaysia, Hong Kong, Middle East, and African nations. Driven by the commitment to enable users with seamless accessibility to using Bitcoin, we have created our proprietary ecosystem. It is a hybrid model that encompasses the benefits of both centralised and decentralised exchanges. Belfrics cryptocurrency brokerage platform not only features top-notch usability but also facilitates users with a liquid order book. We have carefully spread our operations in to various aspect of Blockchain space. Since the Blockchain space is vast and the potential is huge, we have divided our operations in to smaller blocks.”

BET (belfrics Exchange tokens- an ERC20 token developed on Ethereum) will be issued during the ICO. After Belrium blockchain development is completed, BET tokens will be replaced with BEL coins (the access coin for Belrium) at 1:1 ratio. The fundraising will last for a period of one month starting from 8th September 2017 to 8th October 2017. The amount of token issued is denominated in Bitcoins. Contributions made in ether will be converted at the prevailing rate on the best offer basis. Throughout this period, a contribution of one bitcoin (1 BTC) will lead to an allocation of 2000 BET (belfrics Exchange Tokens) along with a time depended bonus.

Mr. Praveenkumar further added that “ICO Investments will be channelled to Belfrics Exchange operations, Belrium KYC blockchain product development and BelfricsBT technology development over the period of next 3 to 5 years. It will also be utilised towards Firstrike acquisition, Belrium foundation, existing investors and pre-ICO marketing contributions.”

Token sales period: 8th September 2017 10 AM SGT (Singapore Time) to 8th October 2017 11:59 PM SGT through www.belrium.io

Price of token: BET = 0.0005 BTC.

Tokens can be purchased using: Bitcoins & Ethereum. Contributions made in ether will be converted at the prevailing rate on the best offer basis.

Symbol: BET

Emission rate: BEL per bock.

Blockchain: Belrium

Consensus method: DPOS

  • Blockchain developers :Team of 8
  • Prototype:Exchange operational in three countries. Prototype for Belrium KYC application is yet to be released.
  • Token details :Voting rights and access rights
  • Token supply :Proportional to raise
  • Distributed in ICO :Proportional to raise

Allocation of Tokens

Pool A (60%): Pool A will represent the contribution made during the token sale period.

Pool B (20%): Belfrics reserve and founders allocation

Pool C (10%): Reserved for Key team members and contributors who worked to develop the company and the ideas, supporting structures and facilities provided.

Pool D (10%): Discretionary distribution to early backers, introducers, marketing team, advisors and development team. 

About Belfrics

The fastest growing exchange in Asia and Africa. The creation of Belfrics was inspired by the enormous potential of digital currency — a financial environment of transparency and efficiency, decentralised currency system, and greater access to financial markets that were once open only to professionals.

Belfrics is headquartered in Malaysia with its live exchanges operating in Singapore, India and Kenya. Belfrics development team and operational team are based out of Malaysia and India. Belfrics Japan is setup to obtain crypto exchange and Money transmission license to conduct global Crypto based remittance services. By end of 2017, we plan to operate 5 more exchanges in African region

Belrium ICO- 1st KYC Compliant Blockchain

By | Press Articles | No Comments

September 16, 2017, Singapore: Belfrics Global, the fastest growing cryptocurrency exchange and Blockchain development firm in Asia and Africa has launched Belrium ICO to power the 1st KYC compliant blockchain, Belrium. It offers customers a secure, private, personalised and decentralised ecosystem that aims to minimise the repetition related to KYC compliance, saving considerable time and cost.

Mr. Praveenkumar Vijayakumar, Chairman & CEO, Belfrics said, “The evolving regulations related to KYC compliance have made KYC-based systems more complex and have increased the time for customer on-boarding. That’s where Belrium turns out to be different. Businesses and enterprises across the globe unanimously agree that growing complexity and cost of KYC compliance are major reasons that affect outcomes from both organisational as well as customer perspectives. Belrium is unique in this context as it enables businesses and enterprises to not only reduce the customer on-boarding time but also simplifies the compliance process by eliminating the need for repetition.

At Belfrics, we are constantly striving to offer both experienced and new users a secure and reliable access to the world of cryptocurrency, ensuring that they receive the best return on investment (ROI). Unlike many other Initial Coin Offerings (ICOs) where the actual product is years away, we are not selling merely an idea. Belfrics has already established itself as a reliable digital currency exchange and a leading software development firm in more than eight countries including India, Singapore, Malaysia, Hong Kong, Middle East, and African nations. Driven by the commitment to enable users with seamless accessibility to using Bitcoin, we have created our proprietary ecosystem. It is a hybrid model that encompasses the benefits of both centralised and decentralised exchanges. Belfrics cryptocurrency brokerage platform not only features top-notch usability but also facilitates users with a liquid order book. We have carefully spread our operations in to various aspect of Blockchain space. Since the Blockchain space is vast and the potential is huge, we have divided our operations in to smaller blocks.”

BET (belfrics Exchange tokens- an ERC20 token developed on Ethereum) will be issued during the ICO. After Belrium blockchain development is completed, BET tokens will be replaced with BEL coins (the access coin for Belrium) at 1:1 ratio. The fundraising will last for a period of one month starting from 8th September 2017 to 8th October 2017. The amount of token issued is denominated in Bitcoins. Contributions made in ether will be converted at the prevailing rate on the best offer basis. Throughout this period, a contribution of one bitcoin (1 BTC) will lead to an allocation of 2000 BET (belfrics Exchange Tokens) along with a time depended bonus.

Mr. Praveenkumar further added that “ICO Investments will be channelled to Belfrics Exchange operations, Belrium KYC blockchain product development and BelfricsBT technology development over the period of next 3 to 5 years. It will also be utilised towards Firstrike acquisition, Belrium foundation, existing investors and pre-ICO marketing contributions.”

Token sales period: 8th September 2017 10 AM SGT (Singapore Time) to 8th October 2017 11:59 PM SGT through www.belrium.io.

Price of token: 1 BET = 0.0005 BTC.

Tokens can be purchased using: Bitcoins & Ethereum. Contributions made in ether will be converted at the prevailing rate on the best offer basis.

Symbol: BET.

Emission rate: 5 BEL per bock.

Blockchain: Belrium.

Consensus method: DPOS.

  • Blockchain developers : Team of 8
  • Prototype: Exchange operational in three countries. Prototype for Belrium KYC application is yet to be released.
  • Token details : Voting rights and access rights
  • Token supply : Proportional to raise
  • Distributed in ICO : Proportional to raise

Allocation of Tokens

  • Pool A (60%): Pool A will represent the contribution made during the token sale period.
  • Pool B (20%): Belfrics reserve and founders allocation.
  • Pool C (10%): Reserved for Key team members and contributors who worked to develop the company and the ideas, supporting structures and facilities provided.
  • Pool D (10%): Discretionary distribution to early backers, introducers, marketing team, advisors and development team.

About Belfrics

The fastest growing exchange in Asia and Africa. The creation of Belfrics was inspired by the enormous potential of digital currency — a financial environment of transparency and efficiency, decentralised currency system, and greater access to financial markets that were once open only to professionals.

Belfrics is headquartered in Malaysia with its live exchanges operating in Singapore, India and Kenya. Belfrics development team and operational team are based out of Malaysia and India. Belfrics Japan is setup to obtain crypto exchange and Money transmission license to conduct global Crypto based remittance services. By end of 2017, we plan to operate 5 more exchanges in African region.


Company name: Belfrics Global Pte Ltd

Company site: www.belrium.io

Company contacts: One Raffles Place Tower 2, Level 19 & 20, 1 Raffles Place, #20-61 Tower 2, Singapore 048616

Email: support@belfrics.com

Web Wallet

We are hustling and fixing some last minute bugs. We should soon get you started with creating wallets on belrium.

Convert BET to BEL

We are hustling and fixing some last minute bugs. We should soon get you started with creating wallets on belrium.

For accessing your BET wallets click on https://www.belrium.io/en/belrium