Senior management within the DasEcosystem are preparing to to launch a user-friendly cryptocurrency exchange, radically different from anything in operation at the moment, which “is going to shake up this industry”. It is likely to be launched either to coincide with DasCoin’s launch onto public exchanges on April 28, or before that big date in London.
And there was other major news from DasFinancial to emerge from the NetLeaders Global Summit in Rio:
- DasPay could be launched on June 30 in Las Vegas
- A plan to launch a digital challenger bank
- A new advisory group to help drive the value of DasCoin up
- An investment-grade crypto product
Speaking in Rio on Friday, Terry O’Hearn, Chairman of DasFinancial, said: “We have a strategy to have DasCoin listed on as many exchanges as possible. Some of the exchanges will be a challenge, others will be welcoming. We are not going to announce the exchanges we will be on until the London event but know that we are working on getting on as many exchanges as possible. It won’t be a short-term project, it will be an ongoing project.
‘Project Apex’ – A new exchange
“On top of that we are working on an exchange we have a code name for. We just call it Project Apex. That’s exciting, and going very well. Most crypto exchanges have grown organically out of people’s basements and some have become big entities. But we are taking a different approach. We have a plan to utilise a clearing corporation, a fully licensed organisation. That clearing corps will be issuing stable coins, essentially a token that is pegged to a currency. We can onboard clients through the clearing corps. They would receive these stable coins and they could move those stable coins to the exchange.
Watch Terry’s speech at the NetLeaders Rio Global Summit in full
“Another huge benefit is when those stable coins are on the exchange, whether you, the original purchaser or someone else on that exchange platform wants to get money out you can acquire those stable coins and you can transfer them to the clearing corps and withdraw your money. It is going to enable people to seamlessly, easily and in a regulated manner get fiat out of exchanges so that’s going to be very, very powerful we are also going to do that on a Blockchain. It’s going to be very transparent. It is going to shake up this industry and in some cases that stable coin will be made available to other exchanges and that will give us a lot of leverage in this space. We are going to have multiple cryptocurrencies, we are also going to have fiat available which most [exchanges] don’t.” The NetLeaders Wednesday Webinar at 1600 C.E.T. on February 7 will provide more details on the exchange.
DasPay: The potential to be a world-beater
Terry said negotiations with digital payment specialists Carta Worldwide continue with a view to making DasPay the world’s number one payment option. “We’re working on some amazing things that no-one else is doing and I can’t wait until those discussions are formal and official so we can share those. We need to grow the network, which is what we’re doing. The bigger the network the better as it relates to DasPay, as it gives us the efficiencies needed.
“February 28 is the next official planned update – it will be on the Wednesday Webinar with [NetLeaders Director] John Pretto, and I will be there. We will give some good updates related to a few things including the ICO. We don’t have regulatory approval yet, but I think we will get it. We need to work on the liquidity to make DasPay work when we are in Las Vegas. Second quarter, assuming all things are going to be on track, we will launch in Vegas.
Embracing Challenger Banks and AI
The UK has a number of “challenger banks” that compete with the more established banking brands. It is described by Terry as a “rapid growth category” and it is something that the DasEcosystem intends to pick up on. He said: “We are working on a digital challenger bank solution that will enable us to onboard clients from 150 countries in less than two minutes. It things go really well we will have good clarity on that in the second half of this year.
Coming soon: Terry’s film looking at the DasEcosystem future
“A challenger bank forms a bridge between the legacy banking world and the crypto world. Another thing we are spending some time on investigating and identifying opportunities in is AI and specifically as it relates to financial services. AI commands almost as much attention as crypto does.”
Driving up the value of DasCoin
A new London office will provide advisory services for a range of products. Terry said: “We have a world class advisory team. They are going to bring a lot of professionalism. They are FCA compliant, they have run huge broker networks, built from scratch, in Russia, China, Switzerland, France, UK and Australia. So that’s going to be very powerful and help us drive a lot of things, not only to drive volume on this exchange but also to help drive up the value of DasCoin because we need to work on things like demand, utility, develop scarcity and hopefully create capital appreciation which is what we all want, with good liquidity.”
An investment product, third-party ICOs and a key appointment
Blair Baker, Director of DasPayment, is working on what Terry described as “an investment-grade, insurance-wrapped crypto-space product that would appeal to institutions or retail traders and investors and it is going to be incredible.” Third-party ICOs will be vetted to check whether then can bring real benefits to the DasEcosystem. Already, some have not met the required criteria but others have done. Later this year, it is expected that NetLeaders advocates will hear concrete details of the first collaboration partners to come on board and become part of the DasEcosystem.