Chart-topping fitness app ‘Sweatcoin’ secures funding

FILE PHOTO: Co-founder of Sweatcoin Oleg Fomenko poses with the app open on a phone at his office in London, Britain May 4, 2016. REUTERS/Paul Hackett/File Photo

FRANKFURT: Sweatcoin, a free smartphone app that pays people to be physically active, said on July 17 it has secured its first round of institutional funding after topping download charts in Britain and the United States. 

The fitness app pays digital “sweatcoins” for how many steps users take daily as measured on their smartphones.