We got contacted by the from FCA in the UK, we have sent back details of our product suite and how we operate. They have closed the enquiry and are happy that all of our products are good to go!
We have been told by our supplier that they have finished their internal policies and the applications should be submitted any day now. Finally some real progress from them so that is great to hear!
In our back-and-forth with Dutch National Bank, it appears at the moment we do not need to pursue a license in the Netherlands. …
What are you working on?
- All kinds of things but mostly focusing on marketing right now
- Building out documentation to share with larger investors
- Our Q4 roadmap is very full
What was the Biz Dev related announcement you mentioned last week?
- CM will provide quick fiat on/off ramps for sellers on Paxful’s dashboard. We should be able to pick up some of those sellers as well.
- Should come to fruition in the next couple weeks and partnership could be launched in Q1.
- Another debit card company is moving into Europe and will need to use our on/off ramps as well. But Kevin can’t give any more info on that yet.
Can you reserve an amount for the bond and finalise payment at a later date?
- YES. You can see in the dashboard now there are reserved funds. You will have a time limit in which you will have to claim before they are forfeited. …
What do you think about the rumor that PayPal wants to buy BitGo, a company who’s services you use? 8:08
Kevin used to dislike PayPal and thought they were abhorrent for many years. They used to freeze accounts at the drop of a hat and lock money for months with no reason. But they realized their model wasn’t sustainable in the digital world and have adapted over the years.
They are a powerful company with a lot of money which could potentially give CoinMetro a better service. Depending on what they do with it, we’re not against it at all.
How much has Basecamp raised? …
2020 is the “Year of CoinMetro”
We handled a range of crucial updates and projects in Q3 which laid the foundations to end the year on a high. We carried out a variety of marketing tests, we remained flexible and proactive, this saw us exceed targets and grow our revenue/volume/daily signups by 5x. An incredible result in just 3 months, it shows we are well placed in the market, we are adding value and offering products and services which are in huge demand. We’ve built a solid referral program which is bringing lots of organic traffic.
We have run an exciting trading contest and intend to start Q4 with another massive event. …
Thrilling market news with CoinMetro’s CEO, Kevin Murcko in This Week in Crypto!
Crypto Market News Highlights
[8:06] G20 Lays Regulatory Groundwork for Accepting Digital Payments
10 years late is fashionably late for the G20. It is amazing to Kevin, that while other organisations around the world are focusing on CBDCs and the application of DvP (Delivery versus Payment) with a stablecoin or CBDC and much more broader problems that crypto can actually fix as of today. And the G20 are talking about how to accept a digital payment. As if that hasn’t already been done for more than a decade.
It’s good to see that they’re making comments about it. But Kevin would say they’re late to the party, and nobody really cares. Go back to talking about all the other stuff nobody cares about. G20 never really takes any action on anything they say they’re going to do. …
2020 is the “Year of CoinMetro”
Q2 was a roller-coaster, an extremely busy time for us in all areas. There were many achievements, but we also experienced some big challenges. These have helped the team grow stronger. We were able to identify areas for improvement across each department, this included procedural reviews, building more features for our internal admin console, recruitment and big updates for easier on-boarding.
We made huge progress with testing ads, building email funnels and creating relevant content to engage and convert new users, this will continue to ramp up! We’ve greatly improved support and compliance tools which will help us deal with exponential growth. …
Thrilling market news with CoinMetro’s CEO, Kevin Murcko in This Week in Crypto!
Crypto Market News Highlights
[5:00] Kraken subsidiary scores license from UK regulator, opening futures platform to institutional clients
Kraken bought a licensed entity, a company that had a license to trade futures contracts in the UK. With that entity, they applied to extend that license to become an MTF.
Why become an MTF? Well, they’re already into futures. And now they probably want to offer options. There are many things you can trade under an MTF. It allows you to trade any transferable security, options being one of them.
On our side for example, on our sandbox in Montenegro, we’re looking at an MTF sandbox license specifically to trade specific types of tokens of securities, mainly in the secondary and primary markets — which are equities, bonds, convertible bonds, etcetera. So, very different business, even though it’s under the same license. …
Thrilling market news with CoinMetro’s CEO, Kevin Murcko in This Week in Crypto!
Crypto Market News Highlights
[4:31] FCA makes mini-bond marketing ban permanent
We’ve actually been looking at this because of our bond projects that are going to be released into the market. So what happened is that they’re centering around unregistered securities, securities that aren’t traded on a broader market — which unfortunately is right where any tokenized securities will fall. The UK right now has basically had a temporary ban since January, and they were looking to make the ban permanent.
This means that the ability to advertise, and solicit investors into unregistered securities in the UK, is in question. Not the best news for a bond offering. However, these things aren’t always what they seem to be at first glance. Many times there are ways to go ahead and market your product, but there may be some extra hoops to jump through. …
Thrilling market news with CoinMetro’s CEO, Kevin Murcko in This Week in Crypto!
Crypto Market News Highlights
[8:23] Chainalysis: Institutional Players Are Very Busy With Crypto
Kevin always looks at these news stories and wonders what their definition of “institutional players” means. There are a lot of market participants, defined in crypto as institutional, but who wouldn’t be defined as institutional by most traditional finance.
Kevin had a debate a couple of weeks ago about hedge funds in general. To Kevin, those are not institutional. Hedge funds aren’t institutional. Institutions would be endowments, pensions funds, etcetera. …
Thrilling market news with CoinMetro’s CEO, Kevin Murcko in This Week in Crypto!
Crypto Market News Highlights
Revolut Sees 68% Increase in Number of Users Trading Crypto amid Coronavirus Lockdown
Percentage increase makes sense, people are on lockdown in their houses, they’re trying new things, they’ve probably had Revolut for months or more than a year, and they never ever looked at that little “crypto thing” in the Revolut app.
It seems like the numbers are still small though.
Bitwage Announces Bitcoin 401(k) Plan in Collaboration with Gemini
Gemini has been running the rounds, they got a deal going with Samsung for their own blockchain wallet. And now they have this 401k Bitwage announcement. …
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