Cryptov8 will be a UK domiciled and authorised bank using blockchain technology to bridge the gap between cryptobanking and traditional banking products and services. Our technology platforms and digital assets will improve adoption and usage of cryptocurrencies globally.
The Cryptov8 project extends far beyond any existing ‘CryptoBanking’ services that exist today. Not only will we have a universal account and wallet, our project aims to streamline challenges that customers often face, which will ultimately create the best possible route for adoption of cryptocurrencies.
We intend to bridge these currently disparate worlds to provide our customers with the widest options and first class customer service.
Cryptov8 will become a global player that uses blockchain technology to bridge the gap between cryptobanking and traditional banking products and services. Our target customers are the existing 25m and predicted 300m-500m future global members of the cryptocurrency community although our services will be available to all.
Already significantly progressed in the process of being a bank, we are well advanced in the process of creating the technical, business and regulatory blueprint to extend our reach worldwide. The primary objectives of Cryptov8 are to improve:
Convenience – making wallet creation and access straight forward. Ability to manage all your cryptobanking and traditional banking in one place.
Trust – as an authorised and regulated bank we will apply the highest levels of regulatory principles and best industry practice to protect our customers.
Security – providing bank grade security with the ability to securely store wallet and password details to allow retrieval.
Cost – make exchange costs and withdrawals cheaper and more certain.
Reward - uniquely, our cryptobanking customers will directly receive rewards for their loyalty. We will give a share of our cryptobanking fees back to our customers.
Acceptance – making cryptocurrency payment mainstream.
Education – providing easy access to educational material, knowledgebase and providing support to crypto customers.
We are in the process of becoming a UK regulated, full service digital retail bank for Mortgages, Loans, Savings and Current Accounts. We will serve retail and SME customers in a familiar way, whilst using blockchain technology to transform the customer experience. Blockchain technology offers massive opportunities to disintermediate many financial services payments and functions.
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ICO Advisor | Blockchain Consultant |Marketing Professional | Digital Strategist Rated on Jun 28, 2018
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12%
no working product, whitepaper full of buzz words, not clear what they use blockchain for, hard cap way too high, token makes things complicated, no innovative ideas.
Jacob ChristiansenICO team member replied on 23 Jul 2018
To respond to Mark - anyone is entitled to an opinion but it should be fair and substantiated:
- Team - we have probably the most experienced team seen for an ICO in this sector, so the score seems harsh
- Product - There is an MVP prototype available on Youtube, so saying there is no product seems harsh.
- Vision - Making crypto currencies readily available to the 500m people globally that are currently under-served is quite a vision, so saying there is no visions seems harsh.
- Hard cap is way too high - I wonder how many banks Mark has actually launched, as it is very expensive to do so properly, so this is a bit harsh.
- Innovation - We are launching a world first, namely the ability to pay cryptos to anyone globally, just knowing their mobile phone number or email address, I think quite some innovation. So, saying there is no innovation seems harsh.
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FCA approve a consumer credit license enabling us to provide personal loans and issue credit cards as well as carry out other consumer credit activities.
2
Q2 2017
Technology evaluation starts, full list of technology vendors considered. Application process for full banking licence begins.
3
Q3 2017
Extensive market research completed to identify consumer preferences, market trends and competitor offerings.
4
Q1 2018
Regulatory Pre-Application Process. Generation of Regulatory Business Plan.
5
Q3 2018
Banking platform vendor selected. Full banking licence application submitted to the Prudential Regulatory Authority
6
Q1 2019
Full banking licence Authorisation with Restriction granted. Crypto Wallet/Account Launch
7
Q3 2019
Full Banking Licence (without Restriction) granted. Banking Services Launch. Phase 1 to include: • Current Account • Savings • Unsecured Loan • Business Lending
