Covesting’s June in Review
Dear Community,
June was a busy month for the Covesting team, filled with progress and achievements taking us significantly closer to our official launch later this year. We want to take a chance to share these achievements with you.
Gibraltar Visit
We had a very productive business trip to Gibraltar filled with events and opportunities.
We had the opportunity to spread awareness about Covesting to the public, and discussed issues currently existing in the cryptocurrency industry. Covesting’s CEO and Founder, Dmitrij Pruglo, joined Startup Grind for a fireside chat to discuss market trends and his experiences in the markets.
He was also one of the panelists at the Token Market conference in Gibraltar, where leading experts in the blockchain industry gathered to discuss their views on the current global ecosystem and the growing token economy.
Key Meetings
Covesting had many important meetings with key officials in Gibraltar in the month of June, greatly helping to progress the company and to discuss the latest market trends. These meetings confirmed that we are on the right track to becoming a cryptocurrency trading platform that fills the needs of private and institutional investors that don’t currently have access to the proper investing platforms. Representatives from family offices have also confirmed to us that they will only enter fully regulated exchanges. These developments confirmed the merit of Covesting’s original vision of creating a secure, compliant, and transparent cryptocurrency-trading platform.
Dmitrij’s visit provided a great opportunity to meet with Albert Isola, Minister for Commerce, to discuss their plans for their Gibraltar venture http://vox.gi/cms/local/11556-covesting-in-gibraltar.html
Distributed Ledger Technology License (DLT)
Covesting’s CEO recently met with representatives from the Gibraltar Financial Services Commission (GFSC) and scheduled an on-site visit of the Covesting office in the World Trade Center. We will gladly present them with any requested information, including platform features and back-office workflows related to tax monitoring and KYC, staying consistent with our belief in the importance of transparency. Regulators care deeply about having unfettered access to these things, and we will continue to focus on creating a compliant trading infrastructure and raising the bar for transparency and regulatory cooperation.
We have been working hard to improve our platform’s infrastructure and compliance procedures, and have quickly escalated from a startup to a full-scale enterprise.
Licensing and Trademark Update
We have great news and are thrilled to announce that we are officially licensed! Although we are still working towards receiving our license from Gibraltar, we were recently granted three licenses in the EU by the authorities of Estonia. The licenses we received are the following:
-Financial institution license
-Cryptocurrency exchange license
-Cryptocurrency wallet services license
Click on the links to view the licenses and select the English option from the upper right corner of the web page.
We are also excited to announce that we are officially registered as a trademark in the UK, and are awaiting final approval and certificate from the EU.
Mobile App Release
After the extremely successful launch of our beta version for the desktop platform, we are eager to tell you that the Beta 1.0 version of the Covesting mobile app will be released as soon as we receive approval from Apple. The release of our mobile app comes after the success of our desktop version Beta 1.0, which has been widely accepted and applauded by users. The mobile application will significantly increase the utility of our exchange and will allow users to quickly and efficiently execute trades from wherever they are, regardless of their access to a computer.
The app’s backend and design are complete, and the app is fully functional. We have also applied for an official Apple account in order to list the app on the App Store. Please check in regularly as we will make an announcement as soon as we receive approval from Apple. Depending on how long Apple takes to approve our mobile application, we may release a TestFlight version of the app prior to an official launch on the App Store.
Banking Update
Covesting has also made positive developments with several banks during the month of June. Thanks to our internal policies, solid workflow, and great team, we have already secured accounts with 4 banks. We are expecting to confirm another 2 banks and 5+ payment-processing companies before our official platform launch later this year. All of our meetings with representatives of these companies have been overwhelmingly positive.
We at Covesting are pleased with our progress thus far, and happy that June has been such a productive month. Based on influencers and opinion leaders assessments, we are feeling positive about the future market trends both on the fiscal and regulatory fronts, and are proud to be on the forefront of this developing industry. We will continue working day and night to create a platform that delivers security, transparency, and compliance to revolutionize the industry.
Please continue to check our official accounts for new developments and more good news!
Thank you for choosing Covesting, and please feel free to contact us any time with any questions you may have.
Thank you,
Covesting team
