Thanks for the answer.
Can you also tell something about third party risks?
For example: if i deposit euro's with you. Where are the euro's stored? is it in accounts of banks with whom you cooperate or are you yourself a bank?
What if you go bankrupt. To whom belongs the currencies and assets?
Good questions. Euro's are stored in the bank account (you should see banking details in the app. they might change, but we're now with one bank who takes Cryptocurrency business). In case of bankruptcy Swiss Law would apply. Lykke will not acquire banking license, but is already in the process of becoming licensed payment institute for e- and fiat money. I'm not familiar with all details. It is also changing rapidly, as there are not only the employees but a growing network of people with a lot of activity (last but not least the opensource code).
I am interested and want to ask a few more question.
As i understand fiat currencies are in bankaccounts with whom you cooperate. I suppose you can trade fiat against fiat. fiat against cryptocurrencies and crypto against crypto.
1. Are the cryptocurrencies held by you (like the traditionale cryptocurrencies like poloniex) or are they held by the users?
100 Coins are equal to 1 share in the company.
2. Are the coinholders really shareholders in a legal way, or is it just some kind of promise in revenuesharing?
3. Will there be dividend payouts to coinholders?
You expect 1 billion USD daily trading volume.
4. What is the expected spread earning on this kind of volume?
5. How will the dividend regime look like (how much of the profit will go to dividends)?
There is only a mobile app.
6. Are consumers your first target group? what about companies? They are not going to trade on a mobile app.
I think the project is great. Depending on the answers on the above questions it could also be a great investment.
Cheers!