Founded by Israeli entrepreneur Saar Wilf, who previously founded the payment security company Fraud Sciences (acquired by PayPal), Initiative Q was launched in 2018. The company's mission was to overcome the adoption hurdles faced by new payment systems. The strategy involved distributing its future currency, "Q", for free to millions of early adopters who signed up and invited others, creating a network effect. The plan was to later roll out a modern payment network that would leverage this large user base to challenge traditional credit card systems. However, after an initial period of viral growth, the project has shown no public signs of progress since approximately 2020.

Founded in

Israel