Airfox

Founded in 2016, Airfox aimed to democratize access to financial services for underserved communities, with an initial focus on Brazil. The company developed a mobile application that offered features like bill payments, money transfers, and access to a micro-loan system. A core part of their strategy was a 2017 Initial Coin Offering (ICO) where they raised approximately $15 million by selling their own cryptocurrency, "AirTokens" (AIR). Following a settlement with the U.S. Securities and Exchange Commission (SEC) regarding the unregistered ICO, the company pivoted. Its operations and technology were integrated into a new digital bank in Brazil called banQi, launched in partnership with the retail giant Via (formerly Via Varejo).