Monthly Recap: March 2018

In the last couple of months, we have kept our heads down and haven’t been releasing much news. The world of crypto never sleeps and we have a lot of sleepless nights behind us as well. We were busy building our product and we are nearing its launch.

We are ready to start with more detailed updates, so here is a short rundown of what we have been up to in March.

Legal

We have been working hard to get all the legal framework done as soon as possible. We are moving in the right direction when it comes to regulation as we have acquired all the necessary European licenses to establish a cryptocurrency exchange and to provide crypto wallets.

The privacy policy and terms of use have been completed and are undergoing final reviews.

We have opened a corporate account at Kraken which is needed to provide liquidity to our platform.

After extensive market research, we have decided to list 11 coins and tokens at launch, with more coming soon after. 

 

Accessibility & Locality

We have established a network of translators across Europe. This was no easy task as we plan to launch the platform in 21 different languages. The translations for the website are expected to be completed by the end of April.

We will regularly make announcements on when the new languages are released. 

The coin market app has been upgraded to make it more user-friendly.

 

Exchange Platform Updates

The entire UX (user experience design) has been finalized. The platform was completed to the extent that we were able to simulate deposits, withdrawals, buys and sells. The private beta is on schedule to be launched in mid-April. We are looking for beta testers. If you’re interested, you can join our mailing list and expect to hear from us soon. You can still apply by entering your email in the main form on the homepage.

The 3rd party KYC process has been successfully integrated. We’re proud to say that the entire KYC process is very simple and fast, taking no more than 5 minutes. It is also scalable and enables a large number of simultaneous applications (registrations).

We have successfully executed all sorts of simulations pertaining to the use of crypto wallets. Among them are the transfer of funds from hot to cold wallets and vice-versa, and also the wallet restores functions.

We have established the production environment. The security procedure regarding the deployment of the code to the product development has been written and finalized.

 

Collaborations

We became members of the Blockchain Think Tank Slovenia as we wish to participate and contribute to the regulatory movements in the area.

We visited BitDegree, the first ICO to be legally recognized by the Lithuanian national bank. We are in talks to collaborate and to possibly list their utility token on our exchange.

 

Going Forward

The month of April is shaping up to be just as exciting as March. We opened this article by mentioning sleepless nights, and we certainly expect more of those in the near future, but we have been very successful in meeting our goals. Extensive beta testing is just around the corner and — if everything goes according to plan — the exchange platform is expected to be open to the public in May.