Financial Services Platform CoinMetro Reveals its Regulatory Compliant Program, TGE Live
Originally published on: CoinSpeaker
Read the original article
March 14, 2018
CoinMetro, a decentralized financial service provider designed to facilitate compliance of Blockchain-based setups with country-specific regulatory requirements, raises over 11.5 Million EUR from its TGE.
Cryptocurrency enthusiasts are scared. All over the world, regulatory authorities are clamping down on Blockchain currencies and different financial services. China has banned token distribution events and Japanese regulators just suspended two crypto exchanges due to non-conformity. Look up any new token or coin on the market and search engines will give links to websites where users are asking about the platforms being scams or not.
Fears from the side of general public, governments, and regulators are not misplaced. Without any rules or regulations holding platform owners and developers responsible, the public’s money is not in safe hands.
CoinMetro: A Regulatory Compliant Platform
Given that a Blockchain setup since it is not limited to a few countries, but is operating all over the world, where such services are allowed, CoinMetro, a decentralized financial service provider, knows how important it is for Blockchain-based services to be compliant with different regulatory requirements.
As a financial service meant for mass adoption, CoinMetro team also understands how essential it is to have strong relationships with banks, payment gateways, and other financial institutions: CEO, Kevin Murcko has personally experienced it in the traditional financial sector with an already successful company, FXPig. The insider knowledge of consumer confidence and regulation compliance is an advantage and he is putting it to good use.
As it is rightly stated by Kevin that the decentralized financial industry needs to be a part of the traditional regulatory framework or “we risk getting regulated out of the very industry we helped create”, CoinMetro will immediately apply for an eMoney institution registration, meaning it will require multiple licenses to operate in different jurisdictions.
What Services Does CoinMetro Offer?
Being a decentralized financial service provider, CoinMetro is designed to cater for every kind of client possible. Its services include:
- Multi-currency wallet, including fiat and cryptos.
- Debit cards for true everyday use of cryptocurrency.
- Lending, allowing for passive income through interest.
- Atomic Swaps, eliminating the need of going to an exchange for small, one-time currency exchange.
- AI-based investment, just like mutual funds, to diversify a portfolio.
- Crypto exchange, offering trading pairs for serious crypto forex players.
- Token event management, allowing for TGEs to be launched on the platform and subsequent listing on their exchange.
CoinMetro TGE: Raising Millions In Weeks
CoinMetro is running its token generation event at the moment. Starting on 21st of February and floating 300,000,000 XCM, it has raised over 11,598,000 EUR in funds from distributing over 124,259,000 XCM so far and still has another 2 weeks to go.
Currently, the exchange rate is 1 XCM = 0.12 EUR, but as more tokens are acquired by backers, the price will jump by 1 cent at 50,000,000 XCM intervals. Yet, more backers input will be rewarded by an increase in the percentage of Token Buyback Program Reserve, a method of stabilizing XCM value by injecting tokens acquired by the platform back into the ecosystem.