ONE Exchange and Dealshaker Updates

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

Re: ONE Exchange and Dealshaker Updates

Post by Igorkrnic » Fri Jul 05, 2019 4:54 pm

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

Week 9 - Friday, July 5 2019

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

Week 9
05.07.2019

IT development

*Ongoing work for creating an additional mechanism, based on the One Ecosystem concept which establishes coin price stability and also facilitates Exchange demand.

*Ongoing work for the application of Exchange limits (no limits applicable from wallet to wallet as it is an internal transfer)

Licensing and IT Audit

*The exact date of the physical meeting with the CB is planned to be announced after the completion of AML/CFT bank seminar (14-16 July).
The IT committee report regarding the coins and tokens is going to be presented during the meeting together with the fee approval. All the fees and expenses for the bank seminar have been fully paid this week. The CB seminar is obligatory.

CB will allow the platform to trade and exchange a limited number of coins - they issued a policy for approved coins for trading to be applied by the licensed exchanges. If non-approved coins are added the document should pass through a specific approval process. Still not aware of what documents will be required.

*Payment gateway – the Exchange company has sent protocols of the business to 3 payment gateways (protocol is how the business is going to operate and via which platforms) however a further final approval is required by the CB in order to proceed with our request. Thus, this will remain with a status ‘Pending’ until the moment we get the final CB approval.

*Exchange limits – There is an ongoing discussion about Limits. Limits between coin accounts are not applicable as it is an internal transfer and will ease the parties in co-ownership.

Compliance

*Countries: The Exchange company have not received any updates from the countries and the file is still at the status it was last week. Another reminder was sent yesterday to all the countries. This week all DealShaker franchisee countries were reviewed as well as inquiries were sent to the responsible authorities.

*For European license: Three applications together are under processing and there is a positive sign and approval of CB bank to open a bank account for the already created entity. The Exchange company is still waiting for an answer from the two other banks but can proceed with bank account opening when the shared capital (obligatory) is prepared.

Igorkrnic
Site Admin
Posts: 1856
Joined: Wed Jun 14, 2017 7:47 pm

Re: ONE Exchange and Dealshaker Updates

Post by Igorkrnic » Sat Jul 13, 2019 6:40 pm

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

Week 10 - Friday, July 12 2019

IT development

*Ongoing work for creating an additional mechanism, based on the One Ecosystem concept which establishes coin price stability and also facilitates Exchange demand.

*Ongoing work for the application of Exchange limits based on the liquidity (no limits applicable from wallet to wallet as it is an internal transfer) CDD platform separated from the Exchange (not compulsory for start, but mandatory in two months after the start) is now under development and will be ready in 6 weeks. Non-European CB was informed as well as the CD for the European license since this is a must for them both. The scope of work and the agreement were shared with both European and non-European central banks.

Licensing and IT Audit

*The exact date of the physical meeting with the CB is planned to be announced after the completion of AML/CFT bank seminar (14-16 July). Immediately аfter the seminar the Exchange company will receive preliminary information preceding the meeting with the CB. CB will allow the platform to trade and exchange a limited number of coins - they issued a policy for approved coins for trading to be applied by the licensed exchanges. If non-approved coins are added the document should pass through a specific approval process. We are still not familiar with the list of documents required.

*Exchange limits – There is an ongoing discussion about Limits. Limits between coin accounts are not applicable as it is an internal transfer and will ease the parties in co-ownership.

*Ongoing discussion for the priorities in the Exchange and how they will be executed

Compliance

*Countries: The Exchange company have not received any updates from the countries.

* Exchange: Business plan was shared with the European responsible authority to be included to the license. Negotiations about the crypto trade are ongoing. The Exchange company is running two parallel processes: bank account opening and licenses application that is under processing and development. Shared capital is now ready to be deposited once a bank account is open.

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