Formosa Financial Biweekly Vol. 18
№00018, 24th, June 2019
Following up on our last edition of Biweekly Vol. 17, the Formosa Financial team has plenty of exciting news to share. AppWorks #18 Demo Day at the Marriott Hotel in Taipei’s Neihu District, an update on FMF token utility, the latest development progress on the beta release, and last but not least — the listing of FMF token on CEZEX, the next generation exchange providing a unified platform for traders, brokers, and issuers to list and trade on Asia’s first fully licensed exchange.
AppWorks Demo Day
The Formosa Financial team would like to give a big shout out to AppWorks for hosting Demo Day #18 on June 4th at the Marriott Hotel in Taipei.This event showcased 28 cutting-edge Artificial Intelligence and Blockchain startups from across Greater South East Asia with 14 AI/IoT companies and 14 blockchain companies.
Appworks is the largest accelerator in the region so it’s no surprise the Demo Day #18 event boasted an impressive turnout with over 1,000 people in attendance. The Formosa Financial team had the opportunity to introduce our company to a massive crowd of Taiwan’s biggest investors, media, large corporations, and industry enthusiasts. CEO Ryan Terribilini gave a three minute pitch to the audience, explaining the core value proposition of the Formosa Financial platform and our key partnerships to upleveling the industry-at-large. The AppWorks program has significantly enhanced Formosa Financial’s network in Greater Southeast Asia by providing contacts at the existing 350+ companies in the “Appworks Mafia”.
We also used this event to announce the details of the merger with Katalyse.io and CEZEX as well as our renewed focus on providing an integrated solution for digitizing capital markets across all segments of the asset lifecycle.
FMF 2.0: An update on token utility
With the recent merger announcement between Formosa, CEZEX, and Katalyse.io comes many questions regarding the next steps for the project. On the Demo Day stage we took the opportunity to explain our forward-looking strategy. Together, the three companies will combine to form a comprehensive ecosystem enabling an integrated solution for cryptoassets from tokenization (issuance), listing, treasury management and trading for clients in both the blockchain industry and capital markets alike. For the detailed information about the three FMF utilities, please visit the full article here.
FMF now trading on CEZEX!
FMF token is now available on CEZEX Digital Asset Exchange with two pairs — FMF/BTC and FMF/USD.
Besides the exciting listing announcement, a 50 million FMF promotion has been created for the community to thank everyone for their continuous support for the project. 10 Million FMF giveaway for Sign-Up and Deposits and 40 Million FMF giveaway for trading has been allocated. Our trading promotion has been underway for over one week and more people are creating new accounts daily on CEZEX. In addition to the FMF giveaway, Formosa Financial is giving a company branded CoolWalletS to 5 of the top 20 accounts.
The early results are impressive with hundreds of new accounts created! To contribute back more to our community and demand, we have decided to extend our promotion to July 1st! so if you haven’t done so yet, what are you waiting for? Start your account and trade today! For detailed information about how to enter, please visit the full announcement here and visit CEZEX to create your account.
Product Updates — Banking Settlement Integration Complete
Formosa Financial has completed on-boarding with Signature Banks’ Digital Payment Platform, Signet. Signet is the world’s first blockchain-based clearing and settlement banking network.
The Signet Platform leverages Ethereum blockchain technology in its architecture, allows for Signature Bank’s commercial clients to make payments in U.S. dollars 24 hours a day, seven days a week, 365 days a year. Transactions made on the Signet Platform settle in real time, are safe and secure, and incur no transaction fees. Deposits held in the Signet Platform are also eligible for FDIC insurance which provides additional security.
In offering services on top of the world’s first functional blockchain-based banking network, Formosa Financial is proud to integrate our treasury management platform to provide clients with the best services for digital asset management in the global crypto industry.
Tech progress: Beta Release Approaching
We would like to thank everyone who contributed to the alpha, including our partners and testers for their valuable feedback. In the past couple of weeks, the Formosa Financial tech team has been working on the admin dashboard by using Django, withdraw and deposit flow on front-end, and the BitGo transfer verification procedure. Shortly after the tech team has done with mentioned above, the tech lead will start doing the production deployment. Once the beta is deployed, users will be able to deposit crypto and sell for fiat at competitive rates in the global market.
Please click the link here to check-out the updated GANTT Chart to see the latest updates.
The Weeks Ahead
Moving into the next few weeks of summer, we look back at all the progress we’ve had with the development of tech products and the key strategic partnerships to deliver the best-in-class services on the platform. Certainly, the most exciting element is the merger with CEZEX and Katalyse, which gives us the added human capital and industry connections to speed up our momentum. We will carry this momentum forward as we invite more clients to use our platform and move into the second phase of the merger.
Thank you again to the community for your ongoing support. Please write your comments or questions below on your thoughts for our 18th Biweekly update!
For more information about Formosa Financial check out our official website — An institutional grade digital asset management tool for blockchain innovators.