Hush ICO

A French crypto-bank project including:

  • A classic euro bank account (with an IBAN);
  • A mastercard world payment card;
  • Project accounts (shared by several);
  • A crypto wallet (BTC, ETH, DASH and USH for now);
  • The ability to change easily and quickly euros-crypto

All this for 110 € / year (or 55 € in USH) and therefore payable in crypto .

Why it can work:

We have seen with online banks (boursorama, fortuneo), then neo-banks (N26, revolut), the new generations are fond of simpler banks, more convenient, with adapted services.

In addition, with the need for more and more people to be able to spend their crypto without having to go through a long (and expensive) process of transfer and conversion to fiat (euros, dollars), it is clear that cryto-banks are land on the market.

The founder, Eric Charpentier has already created a neo-bank ( Morning ) and knows his subject. On schedule, banking and mastercard approval are planned for early 2018 and the application, it, for the end of the year.

One difference with other banks is Hush’s willingness to be an independent, cooperative bank, where tokens will collectively decide .

Tokens: USH

The token (USH) is a token utility type ERC20 that will have a 50% discount on commissions. At each transaction, 5% of the tokens used will be destroyed.

There will be 60M of tokens, including 42M for sale during the ICO. The project plans to raise only € 10m through this ICO, and all unsold tokens will be destroyed.

The sale price during the pre-ICO (which stops on 25/02/2018) is 0.7 € USH with 20% bonus, and it should be possible to trade them on Bittrex trading platforms, HitBTC, etc).

To buy your tokens, only one method: Register their website , send a copy of the passport to control your identity, as well as the public address of a wallet ETH ERC20 . It can be your ledger-wallet or a wallet opened on MyEtherWallet for example, but not that of an exchange.

The payment to buy your USH is only in ETH, and from this wallet.

My opinion :

This is an interesting project, which can actually find a place among the neo-banks to become the first European cryptocurrency.

However, the existing neo-banks are numerous, and some, like Revolut begin to offer support for cryptos . There is a risk that other players will take the speed project if they wake up in time. It will be necessary that Hush very quickly develops a functional product to keep the benefit from starting from a healthy base.

I see two winnings here:

  • The speed to convert cryptos to euros. We can store its cryptos on a ledger and make transfers to Hush to fill his wallet for current expenses.
  • The ability to spend cryptos transparently.

Another risk is the price. Most neo-banks like N26 have free offers to attract customers and their funds. And although it is understandable to charge the true cost of services to users to be independent, it should not be scary to future customers, accustomed to free offers. Another point not yet established: the costs to move from cryptos to euros will not be defined yet and will be discussed between carriers of Hush .

Finally, I see this project rather as a transition to the bank-less. The cryptos principle is to do without the bank completely, but it will not come overnight. Hush’s project therefore has its place during this (long) transition period.

The team is available on Telegram (also with a French speaking room ) and a Twitter account . Eric took the trouble to personally answer my questions.


White Paper:



About Toni Leon

Author: mampham
ETH: 0xC8C92A22a6BeBC985ABF761b0B483c2bD4e3457F

Leave a Reply