It’s with immense joy that we welcomed you to yet another great Changex AMA session on August 7th, 2023. As proud members of the Changex team, we were thrilled to connect with our community, address your questions, and provide insights into our progress, upcoming features, and the exciting strategic partnerships we’ve been forging.
AMA Highlights
Our AMA kicked off with a warm welcome to all participants, setting the tone for an interactive and informative session, followed by a structured format that included both pre-submitted questions and live inquiries.
Fiat Ramp and Banking Services
Starting with the very first pre-submitted question, we delved into inquiries about our Visa Card and SEPA IBAN for Europe.
We were excited to share that our banking service’s launch is on track for Q3 2023, avoiding the vacation season to ensure a strong launch. Developing new ramp functionalities and introducing additional fiat and cryptocurrencies also remains a significant focus for us.
With regards to the Visa Card and SEPA IBAN for Europe, while we understand that this is one of our most anticipated features, we have decided to start rolling out our banking service in Q3 2023, mainly because summer is vacation season and not a great time for new product launches.
Nino Chanev, Changex CMO
While we confirmed the integration of the HYDRA liquid staking pool to Changex, we couldn’t really pinpoint an exact launch date, seeings as our developers have a lot going on at the moment.
As for new chains and tokens, they’ve been put on temporary hold as we concentrate our efforts on our fiat-crypto functionality and the launch of our fiat ramp.
However, we had good news regarding staking pools – we’re all set to release a new one in the coming weeks!
Security and Authentication
One of you asked about 2-factor authentication (2FA) within the Changex app. We’re dedicated to enhancing security, and while 2FA will be part of our banking service, it won’t be rolled out for simple fiat operations in order to keep things streamlined.
Strategic Partnership and Marketing
We were truly excited to reveal a major milestone – our strategic partnership with none other than Cointelegraph, for which we’ll have more details in the week to come! This partnership is set to take our media coverage to new heights over the next 12 months, marking a significant step towards mainstream recognition.
The partnership will make sure that Changex receives top-notch media coverage by Cointelegraph for the next 12 months and help us go mainstream! A partnership of this caliber is fantastic for our project not just because of the massive marketing impact but also because it reiterates that Changex is on the right track!
Nino Chanev, Changex CMO
Regulatory Preparedness
Bringing up the matter of MiCa regulations in the EU, we shared that we are MiCa-ready, and we expect no delays or hurdles on that front.
From a regulatory perspective, we are largely MiCa-ready, and we do not expect any delays there. We have already started preparations and are working with the local regulator in order to ensure full compliance with legislation.
Nino Chanev, Changex CMO (but mostly our legal & compliance team)
Token Mechanisms and Development
We also provided an update on the mechanism involving 30% of trading fees revenue used for buying and burning $CHANGE tokens. We’ll be implementing this mechanism for fiat-crypto and crypto-fiat transactions through the fiat ramp, as well as for crypto-crypto trades, beginning in September.
Live Phase and Community Interaction
The live phase brought an engaging exchange of questions and answers, touching on topics such as the integration of HydraGon, our own banking license, potential expansion, and special versions of the Visa card.
In order to expand fiat-crypto and crypto-fiat functionality outside of SEPA and the EUR, we will be adding more fiat currencies to our fiat ramp, allowing users in various jurisdictions to buy and sell crypto using local currency.
After launching in Europe, we will be focusing our efforts on Southeast Asia and South America all throughout 2024 and into 2025, because these two regions are leading the charge when it comes to crypto adoption and innovation.
Towards the end of the AMA, the tables turned and our CMO Nino Chanev started asking questions instead. The first one, regarding the addition of new staking pools, was met with requests to add a Cosmos (ATOM) staking pool, and we can definitely say it’s on our radar. We also got requests to integrate APE staking, and we’ve also added it to the list of potential future additions.
Final Thoughts
The AMA was truly a fantastic experience, allowing us to connect directly with our awesome community.
We’re incredibly excited about the promising path ahead, from the launch of our banking services to strategic partnerships and the upcoming integrations of more staking pools and chains. Thank you for being with us and here’s to a bright future together!
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Our very best,
Team Changex
1 comment
I missed the ama, so thanks for sharing the summary here. Amazing to hear that the banking service is on track for a Q3 launch… that means within the next 7 weeks or so!