[Coming Soon] Expressvest (investment site)

Expressvest is part 1 of a 3 phase project to get OpenPay going and bring it into the mainstream.
Expressvest is a wholly owned subsidiary of OpenBank.

It will be a place for short, medium and long term investors to securely hold and trade assets denominated in fiat and/or crypto currencies such as bitcoins.
Differentiating characteristics from others include...
A primary emphasis on security and anonymity (We try not to gather anything not legally mandated of us)
A completely asset agnostic trading platform (all kinds of interesting trades are possible here)
The ability to plug new assets and asset types into the system seamlessly.
Leveraged trading of
Currencies, Options, Futures, Stocks, Bonds

Expressvest will use the following settlement methods to help you get money out of your account.
Bitcoin, Credit/Debit card, ACH, Swift, Western Union, PayPal, Vouchers or check by mail (In the future there will probably others as well).

Subject to certain limitations, we will also allow you to use the same methods to get money into your account.

Every account will be given it's own Expressvest branded debit Mastercard issued by OpenBank, (I'll be talking about OpenBank in more detail in a few days).
The card is free to order, even the postage is free and there are no fees associated with the debit card.
For new accounts it will be available for order within 90 days of the first deposit clearing.
An overdraft line of credit (optional) can be attached to the card.
There will also be the option to order an Expressvest branded Visa Credit card so you can use it for hotel & car rentals etc.

All account activity such as trades will be subject to a 1% fee.
All money on deposit, regardless of currency type will be paid interest at 12% per annum.
Money borrowed (for instance leveraged margin trades or overdraft lines of credit) will be charged 1% per day interest. (I acknowledge that this rate is usurious).
Interest is compounded daily and paid monthly.

Besides currency and Forex services, Expressvest will allow you to IPO your own companies and issue bonds which will trade on the exchange.
This means new or existing companies can be brought to the exchange with new issuances for the purposes of raising capital. You must comply with the laws of your country and yes we will be checking on that compliance. The fee to list will be a single due diligence fee of $650USD or equivalent for a new company and $350USD for bonds. To issue a bond on the exchange, a company must first have listed stock on the exchange and that stock must be in good standing. (Good standing means you haven't missed a dividend in any of the last 4Q).

As a general user of the site you can make money by helping us to perform the due diligence against a company.
We use a 3 person diligence review of documentation and financials. We keep $50 and divide the rest between 3 randomly chosen users who actually perform the review.
Each user votes yes or no. If at least 2 of the reviewers vote yes, the company making the offering is allowed to announce it. Once the announcement is made, a poll is ran for 30 days, the other users of the site vote whether or not the offering actually lists. If 51% (of the users who bother to vote) vote yes then the offering is listed and enters active trading. We believe this method will help keep out scammers and fly by nights.

I hope you find this news exciting. Sorry it took so long to bring this to fruition, besides technical challenges there is no end to the amount of meetings and paperwork associated with something like this.

I will announce the website address tomorrow (Was going to do it with this announcement but I'm having DNS issues). The site will be open for pre-registration immediately after the announcement. Everyone who signs up during pre-registration will have their interest rate halved or doubled (in their favor of course) and all of their transaction fees waived for 30 days.

One final thing. There is no hot or warm wallet on the system. All coins remain in offline coldstorage until a withdrawl is requested. You will be given your account's private key during signup. That is the last time the system will ever see your private key. It was stored encrypted in a database long enough to assign it to you and then it was deleted.

Don't lose it, because getting it back requires someone physically entering a vault at a bank and pulling out a large book of pre-generated keys and trying to match them up with your publickey. We did it this way to prevent the possibility of loss due to system failure, break in, government jackbooting or god forbid some sort of company failure ala GLBSE.

Enjoy!