MyCryptoBank
MyCryptoBank — is an online bank allowing any client registered in the electronic bank system to make a full range of bank operations, additional operations with cryptocurrency (payment processing, debit cards, credits and cheap investment products, use of cryptoassets as credit security and many others) based on Blockchain technology without visit of department. So, MyCryptoBank provides services of client’s remote access to accounts, products and bank services in order to make banking operations.
We received 2 licenses for working with crypto-currencies + Lei
(https://mtr.mkm.ee/taotluse_tulemus/485359 and https://mtr.mkm.ee/taotluse_tulemus/485362)
Features
- Main factors that have been halting banking industry:
High fees
Due to excessive intermediaries, traditional banks impose high fees on cross-banking and international wire transfers.
Long-awaited transfers
Bank transfers are based on several centralized nodes that often leads to slow transactions processing.
Territorial Limitations
Traditional banks are fenced by country boundaries.
Currency Barriers
Banks work only with classical currencies and do not allow to store and pay in crypto.
- How MyCryptoBank is facing down the industry problems:
Low Fees
Blockchain platform allows to get rid of intermediaries and minimize transfer fees.
Instant Transfers
The decentralized platform can process more than 100,000 transactions per second and perform operations with a speed of 0.01 seconds.
No Territorial Limits
Сryptocurrencies do not depend on county boundaries.
No Currency Limitations
MyCryptoBank is friendly to all fiat and cryptocurrencies. It is possible to store, to pay in cryptocurrencies, to conduct transfers and to take loans.
- Description of ecosystem products and services:
Online Banking
All MyCryptoBank services are always in your pocket and 24/7 available in both - your mobile app and laptop.
Money Transfer
MyCryptoBank provides an opportunity to send money around the world with the speed of sending a mail. All cryptocurrency payments are with minimal fees, instant and can be conducted in any classical or cryptocurrency - requiring only an internet connection.
ExchangeSince now any user can easily exchange funds using online banking. Change USD to BTC in the same ease as for fiat conversion.
Loans and P2P Loans
MyCryptoBank customers have an opportunity to take loans in fiat money on deposit of their crypto currency. There is also the possibility to get a loan from other customers using a P2P loan system.
ATM infrastructure
To provide the possibility for customers to input and withdraw money, MyCryptoBank has started to build its own ATM network (more than 1000 crypto ATM are planned to be installed) and will also attract ATMs of third-party banks.
Debit Cards
Debit Cryptocards give users full flexibility managing all cryptocurrencies and fiat money. As cryptocurrencies do not depend on country borders, debit cards are perfect for conducting payments while traveling. A debit card is also suitable for paying online or in stores.
Crypto Acquiring
MyCryptoBank crypto acquiring services support all kind of settlements between parties and allows merchants to accept payments in both - fiat and crypto worldwide.
Virtual Cards
To conduct transactions in cryptocurrencies there will be virtual cards: Visa, Mastercard and UnionPay. Furthermore, there will be mobile services such as Apple Pay, Samsung Pay and Android Pay. It will let you pay via common POS-terminals supporting PayPass, payWave, QuickPass, websites and also allows to withdraw or input cash in ATMs.
Forex Trading
MyCryptoBank clients will get direct access to the interbank Forex market, where they will be able to carry out transactions, bypassing intermediaries, by using high-tech methods of processing orders and putting them on the market. In addition to traditional instruments for trading (such as currencies, indices, futures, metals, oil), clients will be able to trade in cryptocurrencies.
Consulting Services
MyCryptoBank provides a full range of consulting services including Legal and taxation matters as well as crypto consulting.
Deposits
MyCryptoBank gives you the ability to deposit funds and receive interest not only in fiat but also in most known crypto currencies.
Technical Info
MyCryptoBank Roadmap
- 2006 - ViPlat company foundation
- 2014 - Purchase of Forex trade terminal
- 2015
- 5000 payment terminals installed.
Contract with liquidity provider signed for direct access to interbank
market
- 2016
- Commissioning of own payment system;
Development of software — informational complex for payment
processing, with capacity of 20 thousand payment processing per
minute
- July 2017 - MCB project concept developed
- November 2017 - 1BIT OU Company registered
- April 2018
- Start of trader personal account development.
Documents submitted for license for turnover and storage of cryptocurrencies
and cyber values.
- May 2018
- License for turnover and storage of cryptocurrencies and cyber values
granted:
• Completed development and launch of own crypto-exchange 1bit.
online
• Provider of services for cyber values exchange to monetary
(fiduciary) assets;
• Provider of services for cyber values wallet.
Completed development and launch of own crypto-exchange mycryptobank.1bit.online
- 16 July 2018 - Arrangement of ICO PreICO
- August 2018
- MVP MyCryptoBank Wallet (mobile crypto bank)
Implementation of crypto-exchange MyCryptoBank service
- 10 September 2018 - Arrangement of ICO
- November 2018 - Start of MCB trading in exchanges
- December 2018
- Obtain payment license;
EMI license obtained (license for e-money emission);
Merchant billing system implemented
- 2019 Q1
- • Developed technology of users identification by biometrics data;
• MCB payment rings production;
• Start of MCB bank cards issue with the partner-banks;
• Implementation of crypto-terminals with functions of fiduciary
money intake and exchange of crypto currencies;
• Implementation of payment multi cards with optional use as cold
crypto currency wallet.
- 2019 Q2
- • Company partnership in SWIFT;
• Implementation of EPC Rulebook for financial operations in Euro
zone;
• Implementation of technology for users identification by biometrics
data;
• Broker license obtained.
Launch of currency, indexes and futures trading in Forex market.
- 2019 Q3
- • International banking license of B type obtained in Cayman islands;
• Implementation of MCB crypto- ATM for withdrawal and depositing
of fiduciary assets;
• Launch of crypto-currency acquiring service
- 2019 Q4
- • Launch of Р2Р-loan system in MCB mobile bank;
• Receipt of additional license for banking operations with crypto currencies;
• Implementation of MCB users crediting in crypto currencies;
• Expansion of crypto АТМ network;
• Implementation of consultancy and legal service rendering, including
taxation;
• Start of bank deposits service rendering.
Activity
- Per 30 Days
- Per 30 Days
- Per 30 Days
MyCryptoBank Team
- Verified 95%
Attention. There is a risk that unverified members are not actually members of the team
Advisors
- Verified 80%
Attention. There is a risk that unverified members are not actually members of the team
10% Project Team
15% Reserve Fund
7% Partners & Experts
3% Bounty