MineGeld’s project founders have recently revealed details about the project’s corporate structure. It will be registered through an RTO (reverse takeover) procedure. Below, we describe what benefits it provides and how MineGeld is going to navigate through the relevant legal aspects.
Since MineGeld is a joint project of Platinum Software Development Company and Unirock Partners, the founders have decided to take advantage of both companies’ existing business infrastructure. MineGeld will be registered in Switzerland via an RTO.
Choosing Switzerland has been a thoughtful decision based on the experience of the founders. Below are some of the reasons for selecting Switzerland as the principal jurisdiction for such a complex project as MineGeld:
- Historically, Switzerland has structured all finance-related policies around the goals of complete eradication of fraud, protection of consumer data and alignment of interests.
- Switzerland has built an impeccable legal framework that’s fully compliant with global standards and best practices. It features a cryptocurrency-based transaction management system which is already in place, making the country’s business market future-proof.
- Switzerland has always encouraged an unparalleled culture of customer privacy and bank secrecy, backed by the strictest data protection laws in the world. These priorities shape the policies of Switzerland’s financial regulator FINMA (The Swiss Financial Market Supervisory Authority) which has generally encouraged self-regulation, as opposed to imposing excessive ‘top-to-bottom’ regulatory policies.
- Switzerland has been highly lauded for its business-friendly environment, which provides exceptional corporate opportunities. The country’s low levels of corruption, lack of complex bureaucracy, clear and sophisticated legal framework and low taxes have contributed to fostering an efficient political system which is stable, neutral, predictable and highly responsive.
- Switzerland has successfully established itself as the heart of cryptocurrency entrepreneurship. “Crypto Valley”, in Switzerland, is serving as a global collaborative hub that encourages emerging companies to base themselves in the country and to thrive in a supportive and vibrant environment.
Meanwhile, an RTO is a common corporate procedure whereby the MineGeld project represents an asset that is provided by Platinum and Unirock to an Asset Management company, in exchange for its shares. The Switzerland-based Asset Management Company is part of an SRO (Self-Regulatory Organization) that already holds all the required licences from FINMA, which enables MineGeld to be launched without any unnecessary regulatory hurdles. Furthermore, being part of an SRO puts MineGeld in a position to have an influence on the creation of future industry standards in the emerging DeFi field.
MineGeld is a DeFi platform that aims to connect the conventional financial system with blockchain and AI. It will endeavor to provide the whole gamut of financial services, from crypto deposits and NFTs to detailed analytics and compound financial instruments. While supporting both cryptocurrencies and fiat money, MineGeld is designed to offer services that have traditionally only been available through private banking and intends to make them available to all users of all income levels from all parts of the world.
In building MineGeld, the founders are striving to combine state-of-art technology with financial and management best practices. Users can rest assured knowing that MineGeld is in safe hands and protected by Swiss law.
Explore the myriad private banking services on MineGeld.com and learn more about the platform on Social Media: Twitter, LinkedIn and Facebook.
Press release distributed by Pressat on behalf of MineGeld, on Wednesday 13 January, 2021. For more information subscribe and follow https://pressat.co.uk/