Olivier Forgues, CEO of the EUROPEAN CRYPTO BANK Project explains the first bank and trading platform protecting its investments in the bitcoin and cryptocurrencies market
EUROPEAN CRYPTO BANK launched its Initial Coin Offering (ICO) on the blockchain on February 15th, 2018 to build the first bank and trading platform protecting its investments in the bitcoin and cryptocurrencies market. Faced with the observation of a lack of regulation, financial and tax specialists, computer scientists, mathematicians, blockchain engineers have partnered to build a European bank and thus meet the expectations of investors by providing banking and trading services, secure, flexible and scalable. The Artificial Intelligence Research Laboratory will be in Paris, the tax assistance department in Milan and the exchange and trading platform in London.
Today, one of the biggest problems crypto investors face is the difficulty in converting their investments into traditional assets. And clearly, the banking system is hostile and unfriendly.
Cryptocurrencies look like the serious competitor to the traditional process of banking and a lot of financial institutions stop accepting crypto exchange money and try to give a hard time to crypto owners and investors.
European Crypto Bank wants to reply to the growing requirements of Crypto holders and the market that we want to disrupt is a massive one, with over €8 trillion being circulated daily in the financial sector alone. If you consider the close to $500+ billions that make the cryptocurrency market, you realise that the first fintech ICO that will have a viable product has an immense opportunity. Today, most of coins and tokens holders need to declare their profits and need assistance to manage their wallet with financial advisors who master markets volatility.
From the investment side of our business, ECB will include an exchange and trading platform and leveraged services on cryptocurrencies and FIAT. Furthermore, ECB will provide portfolio management, wealth management and financial analysis on crypto-currencies, will help people for life planification with crypto-assets and finally will create gateways to all investments universe (real estate, art, gold, traditional financial assets (stocks, bonds and managed funds), private equity and alternative investments…)
From the tax side of our business, ECB will provide services to calculate the benefits people will have to declare to their tax administration and will give to them a tax reporting and a tax guide.
Furthermore, we will carry out tax optimisation and will provide a crypto expert tax lawyer in their country in case of tax litigation.
In that case, the blockchain will help ECB to transfer a payment in ECB Tokens to lawyers, in respecting the right to stay anonymous when a customer need lawyer assistance (a worldwide human right).
The team behind European Crypto Bank already has the KYC and AML software and they’ve been using it for the past nine years in their wealth management business. ECB will be the platform that allows anyone in the world to make crypto investments and benefit from the same services traditional banks offer for fiat money.
The approach taken by European Crypto Bank is quite unique. Indeed, the token associated with the project (ECB) is a swap between two different tokens: One for investing and one for tax defending.
ECB TOKEN I, is for investments (access to the research, trading, etc…) and private bank services. Token I is non-anonymous. Token holders will enjoy, every year, a buy back with 6% of ECB annual turnover. Token I will be tradable and convertible to token S or usable.
ECB Token S for tax services and tax litigation on cryptocurrencies and anonymous. Token holders will get, every year, 5% reward program. Token S is tradable and convertible to ECB token I or usable.
All ECB Tokens selected by the token holder at the end of the ICO will be tradeable and listed in several exchanges.
ECB’s main target is to become a fully regulated Crypto Bank in Europe over the next four years. This will act as a gateway between owners that want to exchange crypto and owners of traditional assets (shares, bonds, real estate, art, …) – providing an easy and secure way to do these conversions.
Since 20th March 2018, EUROPEAN CRYPTO BANK partners with ARCHOS to distribute the ARCHOS Safe T mini under the brand name of EUROPEAN CRYPTO BANK. As per the terms of this partnership, holders of more than 600 ECB Tokens, whose current ICO finalised on May 1st, 2018, will receive a hardware wallet, which will then be available for purchase at a price of €49.99. In addition, the European Crypto Bank will transfer 150,000 ECB Tokens to ARCHOS, as part of its R&D investments.
This wallet provides secure management and storage of crypto-active, safe from cyber threats:
- Identification by PIN;
- Offline private key generation;
- Management of operations on the device, offline;
- On-screen display of information about each transaction for an easy verification before approval;
- Physical authorisation with buttons;
- The creation of a recovery code (consisting of 24 words), essential in case of breakage, loss or theft;
- Support for ECB and major cryptocurrencies and;
- Compatibility with Electrum, GreenAddress/Greenbits, MyCrypto and Mycelium.
In addition to these functionalities, ARCHOS will also provide all the EUROPEAN CRYPTO BANK’s multilingual platform services, accessible at the end of its ICO from May 1, 2018: portfolio statements, research notes, investment advice, conversion of crypto-assets into traditional currencies and generation of corresponding tax declarations according to the various regulations in effect in Europe.
EUROPEAN CRYPTO BANK and ARCHOS join forces to facilitate access to Blockchain’s cryptocurrencies, products and services, by the greatest number, whatever the level of experience, in the respect for the rules established taxes.
The easiest way to contribute to the European Crypto Bank ICO sale is to pay directly to cryptocurrencies. You can also purchase via wire transfer and by sending a cheque. For details on what information to put when doing a wire transfer/check visit their site: www.europeancryptobank.io.
Please note: this is a commercial profile
EUROPEAN CRYPTO BANK Project
Tel: +33 6 58 24 63 21