ONE Exchange and Dealshaker Updates

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Igorkrnic
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Joined: Wed Jun 14, 2017 7:47 pm

ONE Exchange and Dealshaker Updates

Post by Igorkrnic » Sun May 12, 2019 10:28 pm

I was informed that the company will push weekly exchange/dealshaker progress updates each Friday so I will post them here in case there are still some people reading that do not have info.

Igorkrnic
Site Admin
Posts: 1804
Joined: Wed Jun 14, 2017 7:47 pm

Re: ONE Exchange and Dealshaker Updates

Post by Igorkrnic » Sun May 12, 2019 10:33 pm

******* Exchange platform weekly summary *******

Week 1 - Friday, May 10 2019

IT development

Deposit of coins including ONE- done
Withdrawal of coins - done
Trading- done
Deposit and withdrawal of FIAT- done
KYC procedures- done

Testing - next week
Connection ‘Dealshaker – Exchange’ - has to be done
Limits - has to be applied


Licensing and IT Audit

The Licensing procedure is currently an assessment stage. There is more time necessary for final approval
and testing. Moreover, the IT audit of the platform will provide a principal opinion in the next weeks. A
further revision of a list of all cryptocurrencies on the platform, is undergoing.

Legal

Operational funds were raised and deposited in the Escrow account ready to be transferred. Legal
documentation was finalized and under final review. No new updates from specific authorities regarding
the allowance of the provision of services in the state.

Compliance

There is a delay in the licensing committee due to the fact that new requirements for separate CDD
platform arose as a specific requirement of the Central Bank to apply transparency in the Due Diligence
Process and to maintain high level of Monitoring and Control over the flow of funds while reporting to the
Central Bank. However, we have good news that we can start with limited tolerance time.

Igorkrnic
Site Admin
Posts: 1804
Joined: Wed Jun 14, 2017 7:47 pm

Re: ONE Exchange and Dealshaker Updates

Post by Igorkrnic » Fri May 17, 2019 11:13 pm

******* Exchange platform weekly summary *******

Week 2 - Friday, May 17. 2019

IT development

 Testing – deposit function from OLN to Exchange is running smoothly;
withdrawal function is still in test mode – currently, withdrawals can be sent out from the blockchain successfully but a minor error is
displayed after execution of one of the commands -> working on eliminating the error
 Limits and fees – awaiting suggestion by the end of the business day; reviewal and approval is expected during the next week
 Payment gateway should be implemented - awaiting a response from the Central bank on which one is most suitable
 Connection ‘Dealshaker – Exchange’ – coming soon

Licensing and IT Audit

 Licensing – it has been confirmed that there is no legal objection. Awaiting recommendation by Compliance to be released. Compliance and IT have joined forces and are examining all profiles and technical documents. When their work is done, both teams together will release a final report for the licensing. Report is expected to be ready within the next 2 weeks.

Legal

File already released by legal – no further comments on the legal structure. This means that the Central bank has completed the procedure and it has been approved (companies, ownership structures, the scope of work, etc.)

Compliance

This week applications for 2 European licenses (exchange and remittances) have been set up; they will allow: fiat to crypto, crypto to fiat, crypto to crypto. Expected to start - next week with local company registration Application for European licenses and opening of a bank account – both pending. The updated file regarding compliance and operational jurisdiction for the Exchange is forwarded below the current report.

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