Welcome to our TenX Q&A on October 10th.
I wanted to the Q&As from now on bi-weekly. We’ve had a lot of feedback where people have said that “You can’t announce something new every week” so it would be good if you maybe do it every other week
Our team is now 33 people strong
1) Does TenX intend to sell their services as a whitelabel to other banks? Are we intending to allow banks to use our service and run it on top of us, to use both logos and work together?
We have already been looking into this. Paul was in Japan, he has been signing memorandum of understanding with some large corporations to pursue this. We have also signed something like this with a US company, and when I was in Austria, I met with one of the largest banks in Austria that services the entirety of Europe. They are also interested in this in South Africa.
We are only planning to go live with such things in Q2 2018, as our focus is on the scaling and the waitlist that we are currently tackling.
Paul is working on some deals in Thailand. If these co-branding, white labelling solutions are going as well as we are experiencing right now, the timelines and the numbers that we have in the whitepaper are understatements instead of overstatements.
This is something we are really aggressively pursuing from a biz-dev perspective.
1b) Would you consider crypto-backed loans as a service in a future?
You may, for example, take Bitcoin, Ethereum or tokens as a collateral and give fiat as a loan until I pay back my loan in fiat and take back control over my crypto.
We have been discussing such a feature, we do not want to give out too many details, as there are many challenges from a compliance and legal perspective. Timeline wise, it would only be something we pursue in a year.
2) What is the current situation and plan moving forward, with regards to dealing with the high demand for TenX cards?
We have been aggressivel...