Hoard Launches Multi-Currency Mobile Wallet in Beta

Crypto startup Hoard has released the beta version of its all-in-one mobile wallet and trading platform supporting both fiat currencies and cryptocurrencies.

Founded in 2017 and held by a Cayman Islands holdings company, Hoard is an open source mobile wallet that allows users to send, spend, store and swap cash and cryptocurrencies from a single app with a particular focus on providing greater convenience and ease of use for peer-to-peer transactions, merchant services and portfolio management.

The Hoard app aims to be an all-in-one platform combining features of a multi-currency wallet, an exchange platform and a robo-advisor with a broader purpose of “eliminating the complexities and minimizing the risks of the crypto experience” by offering a better user experience.

Speaking to CoinJournal, Jason Davis, founder and CEO of Hoard and former senior interaction designer et Wells Fargo, noted some of the most distinct advantages Hoard offered as its one-second transaction speed for both cash and cryptocurrencies, its second layer transaction protocol, support of international fiat currency and traditional banking, support of multiple blockchains and assets, the integration of machine learning into investment tools to track crowd sentiment in real-time, and rule-based tools that promise to make investing in crypto “as simple as using a piggy bank.”

“There has been extreme excitement for the offerings Hoard has on the roadmap,” Davis said.

“Most notably are the simplified investing and trading experiences. Corporately, merchants and payment systems are beginning to line up to take advantage of our near zero percent fees and instant settlement times.

“As of now Hoard is home to over 23,000 individuals waiting to download the first version of our live production app when it’s released in the fall of 2018.”

Chris Maddern, an advisor of the startup and former head of mobile at Venmo, said in a statement that Hoard was among “the first credible teams bringing a design-first mentality to a hugely under-designed space.”

“2017 was an inflection point for crypto, but 2019 will be remembered as the year that we created real usable products on top of the blockchain,” he added. “This is exactly what Hoard is doing.”

At the center of the platform is the Hoard token and the Smaug Network, an Ethereum-based, off-chain, second layer solution for instant payments and microtransactions. Smaug is “comparable to decentralized exchanges like 0x, but works across different blockchains, and provides both a publically accessible ledger as well as a private one,” according to the company’s website.

“The HOARD coin enables transaction scalability asset interoperability between blockchain,” Davis explained.

“A holder can also use the Hoard coin to privatize transactions using state channels through our second layer solution being built for all blockchains. Lastly, the Hoard coin is a system to enable advanced features and reduced fees with the platform.

“Others may choose to support the Hoard ecosystem by staking a required amount of Hoard within type types of Masternodes. Masternodes act as either ‘order matchers’ or ‘market makers’ which help unify liquidity across any asset or decentralized exchange to provide Hoard users an easy way to transact in a single app.”

Hoard is currently running an initial coin offering (ICO) for its Hoard coins, through which it hopes to raised at least US$2 million worth of ETH.

Following the token sale, Davis said the company will focus on launching the full version of its cash and cryptocurrency wallet.

“Cryptocurrency holders can now delete Cash App and Venmo from their phones, Hoard is all they’ll need,” he concluded.

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