May Update: From Alpha to Beta
In May we reached an important milestone: we entered the final stages of licensing and product development.
Licensing countdown
We met with the National Bank of Belgium early May for an in-person session to review the license application. We spent time diving into the fine technical aspects of the platform and company governance and fraud prevention. Most of our time was spent diligently closing the open items identified at the meeting. On the back of this discussion we renamed the legal entity providing token custody and exchange service. It is now called Digital Ledger OÜ the only effective change. Ownership structure, activity, licensing status and all other properties of the entity have remained as is. PSD2 regulation is new and has never been applied, so each and every detail has to be questioned and discussed by our very own team, external lawyers and even NBB itself, as there is no practice to build judgement on.
OSOM with digital token functionality is getting ready to be released
Wallet, payments and exchange aggregation is undergoing heavy testing with a closed group of users.We are finishing with Alpha release and are preparing for the Beta. We are days away from inviting our waiting list to use the app. Parallel to Beta release, we are developing OSOM exchange functionality and native iOS and Android apps. soon as it is complete and tested, we will release the app to App and Play Stores, available for everyone.
