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WHO: the nature of the business under consideration by the RipaEx project (small scale,
localized FIAT,CRYPTO exchanges operations), means that each enterprise likely to have
7 or 8 staff: N.2 developers, N.1 network/security operator, N.1 administrative, N.2 client
support operators, N.1 legal and tax advisor .
quoted from wp
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Payment Licence: by far the biggest and most arduous task with regards to legitimising
the FIAT,CRYPTO exchange operations is obtaining a PSD Licence [8]. The PSD
license follows Council Directive 2007/64/EC and is applied in each country via its
own national laws. Costs of an PSD license can vary between hundred thousand euro
to one order of magnitude greater depending on the exchange volume.
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Proof of Stake and Masterternodes for a secure, stable and fast scaling network, which is a prerequisite for our platform.
GameTX allows real-time transactions at low fees.
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AML/KYC: Fourth Anti-Money Laundering Directive if business set up in the European
Union [6] or the AML/KYC reference implementation to your crypto asset
marketplace Country of incorporation (as an example Intelligence Reform & Terrorism
Prevention Act of 2004 written by FinCEN in the United States of America).
International recommendations for undergoing AML/CFT verifications are given by
the Financial Action Task Force on Money Laundering
quoted from wp
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HOW: options for finding users for your exchange operations are: targeted marketing
campaigns, innovative features in the industry, fee level based on trading quantities, bonuses
for first registration and trading quantities, affiliate marketing for paying users to bring their
friends to your exchange
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WHAT: classical types of exchange operations are:
– one-way exchange: in which a centralized application has all the liquidity to offer to
its potential users
– two-way exchange: in which a centralized or decentralized platform match the selling
requests with the buying requests of its users
On this, a sub-classification is also necessary:
– FIAT , CRYPTO exchange: in which exchange operations are performed between
FIAT2 currencies and virtual currencies
– CRYPTO , CRYPTO exchange: in which exchange operations are performed only
between virtual currencies
You can build a matrix based on the four configurations above to build the exchange operation
platform of your needs.
quoted fro wp
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HOW: the main problems encountered in opening a FIAT,CRYPTO marketplace is to find
trusted banking partners to comply with the many different AML/KYC rule and procedures
to exchange virtual currencies to FIAT currencies.
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HOW MUCH: the average cost for starting your own crypto asses marketplace is around
e150,000.00 only for a running instance of your exchange platform: to that you need to add
costs to customize the platform before launch and in the future, advertise your new business,
running costs for servers, network operators, support center staff and legal department to
comply with your State AML/KYC legislations and general company laws.
That is the reason because we think owning the source code of your exchange software
is the best way to run a business in this industry.
quoted from wp
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WHERE: local authorities are working with National Governments to make sure local
exchangers in the national territory are complying with national and international AML/KYC
regulations. Venture capitals and Angel Investors are starting to release financing solutions
to start-ups in the Fintech industry all over the world from America to Asia passing through
Europe and some Countries are starting state-owned cryptocurrencies schemes to test the
exchange of goods & services on those (distributed ledger) technologies
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