The first latin wallet to reach Europe legaly
October 17, 2019
Mercury Cash (MC) aims to lead the creation of a new economic system, and the road lights up as its most recent goals materialize, obtaining three important licenses for its operations in the European Union specifically in the Baltic country of Estonia.
Building the ecosystem
The evolution of the economic system implies a series of global changes in which the different agents and elements of the economy must have quick and easy access to the ecosystem. The creation of blockchain technology and cryptocurrencies allows us to have the capabilities for that moment to pass, that moment has arrived and MC is ready.
MC is proud to report obtaining 3 important licenses on October 16, to increase its legal framework and ratify its status as a global financial institution, with licenses in force in the United States of America and Europe, positioning MC at the level of the most important exchange in the world with a volume of $ 100,000,000 USD so far in 2019.
Financial Institution License
The license obtained by MC allows operating as a financial institution (License Number FFA000354). With this license:
1. The Euro Wallet will be added in the coming weeks on the platform, bitcoin / euro, dash / euro and ethereum / euro operations will be added as well.
2. In 2020 MC plans to pay a percentage of interest for the portfolio that is maintained in the MC portfolios.
3. MC becomes a financial institution authorized to provide financial advice and custody services to companies and individuals
4. Finally, it allows to offer credits and loans to its users.
The MC team evaluates the possibility of providing interest services on monthly balances in the platform wallets to encourage the use of cryptocurrencies as a savings and investment vehicle. They also evaluate the possibility of issuing loans to business clients of the platform as a means of financing authorized by the Estonian financial authority.
The changes that the directive may well execute will be implemented in the coming months, as part of its objective of building a new economic system for the management of agents and elements (needs, goods, services, primary, secondary sectors, among others); idea that the company promotes since the publication of the economic manifesto by its CEO, Victor Romero.
The possibilities that these licenses allow to make as a financial institution go beyond a mere qualification or status, opening the opportunity to create the necessary mechanisms to open the way to the massive implementation of the new financial technologies.
Wallet Service License
The company’s second license is to offer digital wallets (License Number FRK001035). This makes MC a multi-portfolio solution to a globalized world, for people or companies that require making or receiving international payments, simplifying accounting on a single platform.
As a financial institution, MC issues financial relationships and account statements to its users, as proof of cryptocurrency funds management that are used to demonstrate business relationships in the desire for commercial expansion and insertion by users.
License to offer exchange services between cryptocurrencies and FIAT
The first achievement presented by the Latino Startup was to be the first institution to obtain the Money Transfer License for Ethereum in the State of Florida in the United States, giving what to talk about the company and positioning itself as one of the best technology ventures from Florida in 2018.
Now, they not only have an official license to operate with exchanges between cryptocurrencies and FIAT currency in the United States, but in Europe, specifically in Estonia (License Number FVR001148). MC has more than 16,000 users who will soon be able to make legal change of their assets in EUR within the platform.
“Obtaining these licenses will allow Mercury Cash to establish a more attractive business model for cryptocurrency holders” Victor Romero CEO of Mercury Cash
Mercury Cash has made capital raising and has met all the goals
MC has promised to do everything possible to be a market leader, over time it has been strengthening its services, liquidity, prices, improving its legal framework, obtaining insurance. and they plan to release Mercury Cash 2.0 this December, which comes to compete with world class wallets.
These licenses recently obtained in the Baltic country are the product of the innovation of a nation that undoubtedly wants keep the baton as a digital nation.
The institution’s next goal will be to strengthen the adoption of technology, with the launch of the payment processor for BTC, ETH and DASH called Mercury Gate, which will use the “zero confirmations” logic for bitcoin for easy retail use. . All payments will have the option of real-time conversion to FIAT currency in USD or EUR so that merchants do not worry about price volatility.
Mercury Cash is undoubtedly an example of the desire to be part of the change for the common good, with the implementation of open and secure financial technologies, which empowers people in the management, monitoring and control over their assets. Undoubtedly, the achievement of these financial licenses will give MC operational strength to position itself as a worldwide reference.