Plutus Announces Institutional Investment Into World's First Crypto Rewards Token, PLUTON ($PLU), From Alphabit Fund

Pluton (PLU), the world's first concept of a crypto loyalty rewards token, released in 2015 by Fintech startup, Plutus, has captured the attention of the prominent digital asset investment fund, Alphabit, who have committed to a substantial investment.

Plutus Logo

Plutus is a London-based FinTech that offers an alternative to modern banking and combines it with ease of access to cryptocurrencies. Every time a user spends with their Visa Plutus Debit Card, they earn 3% back in the company's native crypto rewards token, Pluton (PLU), which carries numerous benefits and a fiat value.

Alphabit, a digital assets fund with $1b AUM, has recognised the significance of Pluton ($PLU), and committed to a significant investment in the revolutionary token. Alphabit specialises in providing a wide array of advisory-related services and identifying/investing only in high-potential blockchain-focused projects.

Alphabit CEO, Liam Robertson, commented on the partnership:

"One of our key skills is researching and identifying crypto assets that provide real value and we are glad to have stumbled across PLU in its early stages. Plutus is overcoming major obstacles and our team is especially excited for the integration of Bitcoin into their DeFi Cards, a world's first."

Plutus CEO, Danial Daychopan, commented on the partnership:

"We are extremely excited to partner with one of the world's first regulated digital asset investment funds. We have absolute confidence in Alphabit and their continued success, and the agreement helps in showcasing the strength of PLU's tokenomics and its overall fundamentals."

About Plutus

Plutus is an up-and-coming finance app that offers a UK Account or a European IBAN to manage GBP/EUR; a non-custodial wallet to manage crypto; and a built-in DEX to securely swap between both assets. Users can spend fiat, or converted crypto, at 60+ million merchants using their Plutus Card, and earn 3% crypto rewards (PLU) on every purchase.

These features combined allow users to manage/convert/spend/earn both crypto and fiat from a single app and card. Founded by entrepreneur, Danial Daychopan, Plutus now has over 25,000 accounts opened and has set a target to grow to 150,000 users in 2021. Plutus is aiming for a banking license in 2022 which would make it the first non-custodial crypto bank.

About Alphabit

Alphabit specialises in investments in blockchain and distributed ledger technology projects. It offers a wide range of advisory services and acts as the investment advisor to the Alphabit Fund — one of the world's first regulated digital asset investment funds. 

The company's goal is to share its expertise with promising projects and advance the cryptocurrency movement as a whole, and to date, Alphabit has made strategic investments in projects such as Metal Pay, PoolZ, Yield, and Suterusu.

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Source: Plutus