Loading Success: CoinStruction Progress Update
In order to keep our followers, supporters, and investors in the loop, we decided to provide regular progress updates on the development. As this piece is going to be the first progress update, we’re structuring it to be a bit more comprehensive and rich in information.
Ready for the extensive read? If you’re interested in the CoinStruction project — it’s a no-brainer.
Basically, we’re moving fast and to multiple directions at the same time. A lot of pressure is being put on the team, but we are also receiving a tremendous amount of positive feedback from our community and advisors. CoinStruction is in the growth mode and the appetite is ever-increasing.
Besides settling our workflow and internal procedures we’re developing and deploying the products of CoinStruction ecosystem as well as offering B2B services and whitelabel solutions:
- CoinStruction PRO — digital OTC desk for large trade execution;
- ExMarkets — a crypto2crypto trading platform for retail investors;
- CoinSupply — a fully regulated cryptocurrency exchange;
- Coinam — a digital multi-currency wallet;
So without much further ado, let’s get down to it.
No more ICO
Given the outstanding market sentiment and the decreasing confidence in ICO fundraising, we’ve decided to abandon our plans to do an ICO for CoinStruction’s ecosystem and to rely on securing funding through selling equity. We’ve secured enough seed funding provided by our core team member and private investments to cover initial needs for project development.
We’re still keeping on course with the plans of using tokens as a payment vehicle inside our ecosystem, but the aim is to do so only after our proprietary products are fully running and interlinked together.
In other words, we will release the tokens just as they will have a use-case and serve a real purpose apart of being a vehicle for speculation.
Finalizing the strategic framework
Even though the cryptocurrency and blockchain industry is changing on a daily basis which subsequently requires projects to shift strategy constantly, moving forward without one is a strenuous task, to say the least.
That’s why we’re happy that the most important checkmarks are ticked. The Business plan, Financial forecast, and Company valuation have already been completed. These key documents are essential for investors willing to buy an equity share in the CoinStruction holding.
All interested parties are invited to reach out to Laurent Bourquin, the Chief Operating Officer of CoinStruction to receive more information regarding the matter.
Acquiring licenses for full compliance
These days there is a lot of negative feedback in the space implying unfair business practices and false promises handed out by projects and service providers. We foresee that regulatory compliance will play a big role in the industry in the upcoming years.
Anticipating the market trend and starting to act now, we are slowly removing the barriers for of non-compliance. As of now, CoinStruction has already applied for 2 EFSA (Estonian Financial Supervisory Authority) licenses:
- Fiat2Crypto gateway to perform inter-currency transactions and conversions;
- Custodianship license for digital assets to be integrated into our digital wallet Coinam;
Once the aforementioned certification is obtained, the process is not about to stop. CoinStruction’s development roadmap also includes the acquisition of the MiFID II (The markets in financial instruments directive) license which will serve as a stepping stone towards setting the infrastructure for security token trading.
CoinStruction family is expanding
As the workload and required resources are constantly increasing, so should the headcount. We are both happy and relieved that 2 talented professionals with a positive long-term outlook on the industry have joined our core team — Gytis Trilikauskis who will be acting as the marketing strategist and Dylan Sharkey.
Dylan is an accomplished sales professional with a vast know-how in building sales processes, securing leads and closing deals. He has past working experience in LinkedIn’s MENA branch in Dubai as the head of sales and has been actively involved in the blockchain space for almost two years.
On joining the team Dylan commented:
“ I am delighted to join the CoinStruction team to lead our B2B Sales division — we are building a key component of the digital asset ecosystem, providing institutional grade liquidity and bridging the gap between disparate exchanges. With technology that is cutting edge and a leadership that has a track record of success, CoinStruction is well placed to play a key role in the maturity of the crypto markets as they converge with traditional finance”.
Meanwhile, the other team addition Gytis is a Lithuanian born national with previous experiences ranging from business development to external communication. Gytis worked in several FinTech projects as bridge-builder between blockchain sphere and the mainstream media coverage. He has a deep interest in crypto economics, financial innovation and marketing data analytics.
“It is great to become a part of the CoinStruction ecosystem. It’s a fast-moving enterprise with an expanding team of experts. I see huge potential in it. CoinStruction has numerous options to facilitate rapid growth and become one of the industry’s leaders. I feel really happy to be here”, — commented Gytis Trilikauskis, the new marketing strategist of CoinStruction.
New friendships generated on a weekly basis
As they say, a man is not an island, but neither is an enterprise. It would be extremely difficult to reach any significant amount of market presence without building meaningful relationships and securing enabling partnerships with other companies and individuals.
Hence, our business development team led by Christof Waton is making sure we’re making continuous progress. So far we’ve entered into partnerships and cooperation deals with the following companies/projects:
- KYC bench — a trusted and independent provider of KYC data processing;
- Global Traders Team — a community of trading coaches and aspiring traders in the making. Find out more;
- Cointelligence — the trusted and verified data layer of the crypto economy. Find out more;
- Coinmarkets — a crypto market data information website. Find out more;
- AA Union Capital — a thread to utilize ambassading OTC desk and network of connection thanks to our advisor Salina Bo.
And that’s just the beginning, we have more value-adding partnerships to be integrated into our liquidity framework in the pipeline. Just stay tuned and you’ll hear about them in no time.
CoinStruction all over the place: from Spain to Malta to St. Petersburg to Dubai.
To spread the message of our project and to generate potential leads, our team is heavily involved in blockchain and crypto events around the globe.
During the last couple of months, more than 5 events have been visited, 2 pitching competitions attended, won the 2nd place and the award for the best booth in the Blockchain Life 2018 event in St. Petersburg.
You can read more about CoinStruction’s roadshow by following this link.
Determined to continue onwards
These past 2 months have been a productive period for the CoinStruction project. However, with the public and investor interest on the rise, there’s no time to lower gears — full speed ahead is the only acceptable path.
The most important short-term goals with the highest priority include partnerships and corporate account openings with major cryptocurrency exchanges, securing SEPA and Swift gateways for efficient and fast money transfers, launching of market penetration campaigns for ExMarkets — a cryptocurrency trading platform plugged directly to CoinStructions liquidity framework.
What is more, we’re eager to secure pending FSA licenses as soon as possible, adding stablecoin trading to our proprietary trading engines, adding Ziliqa (ZIL) and Aeternity (AE) tokens.
Want to know more? Feel free to join CoinStruction Telegram channel and engage with the team directly. Otherwise, you can follow us on social media and stay always up to date.
Telegram| Facebook| Twitter| LinkedIn| Reddit| Instagram| GitHub |
