What is SPCFIN and its BNPL utility?

5 min readOct 24, 2022


Storepay’s founder and CEO — Khangal Nergui and international expansion lead — Tsatsal Ganbold took part in an AMA hosted by LBank. Below is a summary of the AMA session.

Question 1: Is it only listed in LBank or will it be listed in several other CEX? What is the use of the SPCFIN coin in the ecosystem? Is there any long-term effect in the ecosystem if you hold the coin?

Answer: Let me start with how SPCFIN began. Storepay is a Fintech company with a headquarters in Singapore. We started providing BNPL service in the Mongolian market in 2019. The no-interest and zero-fee BNPL model grew quickly, and we saw it helped our users to plan their finance better without having to worry about late fees and interest for credit cards or loans. We got really inspired by this and wanted to provide even more flexible financial solutions that are accessible to everyone. However, even the Fintech systems had some constraints when it comes to creating borderless, affordable, and transparent financial opportunities.

So we leveraged cryptocurrency and Blockchain technology. It has been almost a year since we launched SPCFIN and now it is being used in our growing network of businesses. We started a very successful BNPL service that is beyond just retail sales. Our BNPL service is available at hospitals, real estate, airline tickets, car dealerships, restaurants, grocery shops, and gas stations.

SPCFIN is required for users to benefit from the BNPL service fully, such as split paying for purchases with large amounts, having longer installment plans, using it in other countries, and using the B2B BNPL.

SPCFIN is used as a collateral substitute, alternative credit scoring, payment & investment tools, and reward system.

Right now, it is listed on two Mongolian exchanges — coinhub.mn, trade.mn and LBank Exchange. We plan to list SPCFIN on other top international exchanges before the end of this year.

Question 2: Many new projects develop well at first, but then fail to achieve good results. How will you manage and develop your project to gain a position in the market and become a good project in the blockchain industry?

Answer: Our ambition is to create a token that has the largest real-life utility that is also connected with broader financial services. And we know financial needs are always evolving. To achieve this, we formed a team that has extensive experience in the financial and tech industries.

Secondly, we’re constantly growing the BNPL ecosystem. We’re working on launching the BNPL service in South East Asian markets, so our token will have cross-border real-life utility as well.

Question 3: Almost 80% of investors have just focused on the price of token in short term instead of understanding the real value of the project. Can you tell us on the motivations and benefits for investors to hold your token in long term?

Answer: We launched the token into our existing BNPL business and its user base. Our BNPL service is growing successfully with over 2,000 merchants partners in Asia. Most utility tokens’ ecosystems revolve around its Blockchain and its enthusiasts. Unlike them, SPCFIN’s ecosystem is separate from the Blockchain industry and the cryptocurrency price and related news don’t affect our Fintech ecosystem.

Not all of our BNPL users actively take part in the crypto world, they love using the BNPL service in their daily lives. So to answer short, SPCFIN is interrelated with a stable Fintech ecosystem that is growing regardless of the market cycle, and SPCFIN will always have value as long as the Fintech service is in demand.

Question 4: A project needs to deal with solving a real-world issue or problem. With that said, what is/are the problem/s that your project primarily focuses on? What market are you targeting? And what are your plans to convince and onboard new non-crypto clients?

Answer: SPCFIN solves the traditional financial system’s shortcomings and makes Fintech service more accessible and inclusive for everyone.

Our token holders and BNPL users can use SPCFIN as collateral for large amounts of BNPL purchases, like plane tickets, cars, and real estate, also for B2B BNPL purchases.

It’s also used as an alternative credit scoring. People who don’t have enough information to receive a credit score can get their purchase limit determined with their SPCFIN wallet balance.

The token is also used for the BNPL payment. Of course, the token can be used for investment purposes!

Question 5: Your project is very important but it needs large user traffic to be sustainable over time What marketing strategies do you have planned to increase the validity of your brand? Are you planning a strategic partnership to level up your project?

Answer: The uniqueness of our token is its Fintech utility. As we grow the Fintech ecosystem and gain users, there will be a constant demand for SPCFIN as default.

Our primary strategy is to make our unique Fintech service available to more markets and cover a wide range of businesses.

Live Community Questions

Question: Have you being audited ? Have not heard you talk about the security of funds is what every investor craves for and plans to escape incase of insecurity if funds, scams and rug pulls ? How strongly built are your security put in place? — By Telegram username — Trust Yourself ☺

Answer: This is a great question. We’re a CertiK audited project. We take security seriously.

Our BNPL service has over 300,000 active users and around 1,000 daily purchases. And we’re going to launch the service in larger markets. Again, SPCFIN is the utility token based on a growing actual business.

Question: Are you planning to burn tokens to increase token value and attract investors to invest? So, your token will be more profitable to hold? — By Telegram username — @Jed_grayson

Answer: Yes, because of the current market situation and to create healthier tokenomics for the project, we burned 72.8% of the total supply which was created at the very beginning. As a result, now more than half of the total SPCFINs are in hands of SPCFIN token holders on the secondary market.

Question: What is the most ambitious goal of your project? Could share with us any Upcoming Updates? — By Telegram Username: Rafi

Answer: Of course, we want to make our BNPL service with a twist of crypto available for everyone globally. To reach this big goal, we’re starting with South East Asian markets with over 600 million people. Using the advantages of Fintech and Blockchain technology, we will deliver financial services that solve some of the biggest current issues. Please stay tuned and join us on our global journey!




We provide interest-free BNPL service for consumers and businesses. Our native token — SPCFIN has immediate use and value in our growing ecosystem of 2,00