TokenPay — The Global Cryptocurrency Platform.

While the use of cryptocurrency is sharply rising there clearly exists a critical
problem with mass adoption. It is a victim of its success. While cryptocurrency
is essentially designed to be the catalyst for democratizing money, the
production, supply, and use of it is highly fragmented. There is no central
government or bank control. Therefore, the currency cannot be inflated or
deflated. Typical fiat money supply can be largely manipulated without any
consultation. There is a seemingly unlimited proliferation of digital coins. As
well, relatively lax regulations and the obscure nature of some digital coin
issuers is driving extreme pricing unpredictability.

The greed of early-stage investors has also contributed to this volatility. For
instance, since the inception of cryptocurrency exchanges coin values have
been erratic. These sudden price spikes and drops can cause havoc on regular
money services. All of this affects the ability of a coin to be properly utilized
for remittance, currency conversion and at ATMs. When a cryptocurrency
holder requires fiat to fund meaningful financial activity, they are faced with
exorbitant fees. Additionally, a hostile bank client onboarding and compliance
process remains challenging. Despite what the promoters say, there is no
reliable way to use cryptocurrency. For example, Bitcoin ATMs can charge up
to 15% just to convert to fiat currency. This defeats the original purpose of
cryptocurrencies, which was to offer a cheaper and more flexible alternative toother payment methods. With no advantage over government-printed money,why would an ordinary person use it?

Reversing the paradigm, banks must operate in a compliant and consumer
protective mode that is driven by massive regulatory oversight and fiduciary
status. A customer is not able to simply show up with a cryptocurrency wallet
and convert the holdings to a widely usable country issued currency. And the
idea of conducting a hard asset transaction for instance with cryptocurrency is
simply not one that any bank in the world is equipped to process. The problem
is that any size transaction with cryptocurrency is immediately flagged as
fraudulent. It is nearly impossible to make larger purchases such as a car,
house or even school tuition. Issuesrelated to AML, KYC and general regulatory compliance are only a few to consider when accepting and accommodatingsuch a scenario. There is a systemic and reputation risk that must be mitigated. Banks have been known to close the accounts without warning of those transacting in cryptocurrencies.

It seems like every time a new token or coin is being issued into the market
there is this flawed assumption that full convertibility and liquidity is
guaranteed. This is not only false, but it is completely the opposite of what is
the case. Today’s crypto system is beginning to replicate the pre-crisis
financial system. That is, banks being able to receive any amount of official
liquidity at will. As long as the institution had acceptable assets to pledge at
the central bank of course. For everything else, such as self-created assets,
there was the wholesale funding market. Many of these assets were self-valuedat entirely fantastical rates. When the wholesale market froze up, only thecentral bank had the capacity to support it. But there is no central bank to bail out cryptocurrencies. So, consumerism and utility of cryptocurrencies mustlive up to the standards of fiat currency. That is, not on be easy to obtain, but also to be able to create, store, share, use, trade, exchange, transfer and
convert seamlessly to fiat. Only then does the cryptocurrency have real-life
utility driven by the ability to purchase actual things.

The major question remains. Is there a way around this? Can the
cryptocurrency world meet the fiat world? There are Bitcoin debit cards, like
Wirex, Xapo, bitwala and more. But this is only half the battle. There still exists critical banking obstacles that prevent the exchange of cryptocurrency to fiat. So, why not reverse the journey, and have the banking world meet the crypto world half way? In a nutshell this is the central premise of TokenPay. The goal is to create the world’s first bank that truly understands and embraces cryptocurrency activity. This bank will allow customers the ability to convert cryptocurrencies to fiat to enable the purchase of hard assets. This is a bank that will inevitably cater to the crypto community in a vertically integrated fashion; from consumer accounts to merchant processing. It all starts with a banking relationship. This is why TokenPay’s first step is to acquire or strategically partner with a bank.

Customers can store cryptocurrency in insured wallets — as it will be fully
backed by a licensed and bonded banking institution. The ability to convert to
fiat currency in real-time is conducted on the bank’s private closed-end
exchange. Current market data indicates that the majority of transactions are
national to cryptocurrencies and vice versa. Traditional banking services are on top. These include a debit card that is in fiat currency tied to the bank. All of these are ways to proliferate use and adoption of the banking services.
Undoubtedly, debit cards are heavily used in the fiat world. A debit card is tied
to a bank account based on fiat currency. The debit cards issued by the
cryptocurrency driven bank will be tied to a wallet and a virtual card. The
private exchange enables seamless and fluid conversions and transactions. The merchant services appeal is that businesses can accept cryptocurrencies. The objective is the creation of a complete end-to-end solution for decentralized payments and banking.

The TPAY digital token is intended to be fully integrated into to the Tor
encrypted banking platform and be used as a secure and unbreakable form of
exchange for products and services. Ultimately, the expectation is that
TokenPay will become the global platform for simplifying and rapidly
executing cryptocurrency to intrinsic value capital transactions.

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