The Big Bang of Banking
With the need for more day to day basis financial services for cryptocurrency users evident for all to see, will the next steps for this newly emerging space be an evolution in the way we view banking?
There is no doubt that the debate upon whether or not crypto can, shall or will be regulated, and to what extent those regulations extend, will not be resolved any time soon. An issue that can be described as far more clear-cut are the consequences that not being aware of the regulations can have upon a project. The coinmarketcap charts are littered with the remains of projects, whom for one reason or another, were crippled and brought to their knees by unforeseen or underestimated legal requirements.
Being “ahead of the regulation” has been more than just a statement of intent for us here in team Ø. Our legal counsel have been to us more like Sherpas than lawyers! Without them, guiding our every foot step through the treacherously shifting and often unwelcoming terrain, we would most likely be far less ensured of our benevolence with the regulating bodies during our ascent. We know, for those who have followed us for some time now, that the journey has been slow to progress in places, but we’d like to thank every single member of our community who has supported us this far.
The top of the mountain is in clear sight!
Whilst it is only within recent weeks that the island of Malta has been the subject of much attention, Ø has been establishing relations there for quite some time. In fact, it is through the MFSA that Ø has been engaged in obtaining the relevant banking licences we require, namely, an EMI and MTF licence. With the expert guidance of Andrew Zammit and his team at GVZH Advocates, as well as Thibault Verbiest and many more besides, we foresee that Ø could receive its provisional EMI licence as early as Q4 2018. With this under our belts, Ø will be equipped with the tools we need to start rolling out the full range of services and benefits that we have to offer!
Don’t forget, in order to be a member of Ø and be able to access the full suite of Ø services (such as the fantastic new Øpay, now entering beta!), you’ll need to hold some GXE!
GXE is currently listed and available to trade upon;
If you’ve any questions about the project, or simply want to get involved and be a part of the journey then come chat to the team and community over on Discord.
