Mercury Cash in 2019 turned 4 years since its first incorporation as a company on June 28, 2016, in the State of Florida, United States. Today Mercury Cash has incorporations in the United States and in the European Union, Estonia.
Currently, the company team has 31 people, after the hard 2018, we had 2019 that allowed us to grow operations. We were focused on starting operations in Tallinn, Estonia, moving part of the equipment to the digital nation and obtaining licenses to operate in Europe.
The main team in charge of the company’s operations can always be found on this website https://ir.mercury.cash/officers-directors/ and our main website has been and remains https://www.mercury.cash/
As we announced in 2018, in 2019 we focus our efforts on opening an office in Tallinn, Estonia, in order to start operations in Euro. We apply to obtain startup status through the Estonian Ministry of Foreign Affairs, a very rigorous process presented by the Baltic country to grant this status, and we successfully obtained it.
What benefits did we get with this status?
Our main office in the United States, wanted to move part of the team (Human Resource) to the Orlando office, for more requests and different methods recommended by lawyers we made to be able to guarantee work permits – residence to team members was impossible, which led us to have our first scalability challenge “the immigration policies of the country where our offices were located”, the startup status in Estonia, allows us to offer direct European residence to team members who come to work with us at the office of Estonia, without being limited to annual quotas or high fees, this status was granted for 5 years.
What other benefits did we get from opening an office in Estonia?
Our second biggest challenge was to have a regulatory framework designed so that innovative companies like Mercury Cash have legal clarity, and in Estonia, we were granted 3 licenses:
1.-Financial Institution License
2.-Wallet Service License
3.-License To offer exchange services between cryptocurrencies and FIAT
If you want to see detailed information about the benefits of each license you can visit https://blog.mercury.cash/2019/10/23/mercury-cash-expands-and-becomes-a-financial-institution-in-estonia/
The third and final biggest challenge we had was the banking partnership, being in Europe we got 2 banking partnerships that will allow us to operate in EURO using the SEPA payment network, if you want to see more information about this you can visit https://blog.mercury.cash/2020/01/27/euro-eur-wallet-available-in-mercury-cash/
What obstacles did we have in Estonia?
On September 2, 2019, the court of Tartu County, Estonia sent us an appeal procedure, ordering us to change the Mercury Cash OÜ business registration name since in Europe the trademark was registered by BANK OF AMERICA CORPORATION, Class 36 (Services banking; financial services among others), Mercury Cash is a trademark of Adventruous Entertainment LLC in the USA registered and published correctly in the United States Office of Trademarks and Patents with registration number 6462752 from May 8, 2018 Class 36 https://www.mercury.cash/img/certificates/trademark.pdf
Without a doubt there is no comparison scenario between Mercury Cash and Bank of America, what do they want? We do not know, but we are sure that we will find out soon. Our team responded to the court judge respecting the law and changing the registration of the legal name in Estonia to Tulecy OÜ a name we decided to choose from TULEvik which means future in Estonian and CurrenCY which means the currency in English.
We will continue to use Mercury Cash Trademark and will exercise our legal rights in this situation. They were sent a request for ethical resolution for the use of the brand without consideration of services.
Our main product is still the best performance in the company, we managed to consolidate +14,000 users having a growth of 5k compared to the 10k we had in 2018, of which 318 are business compared to the 130 that was in 2018, our Business customers increased 3x, we managed to process + $ 130mm compared to the + $ 19mm of 2018, we increased our operations by more than 6x.
-UI / UX: We started launching our new image in phases along with the new user interface, having improved all Mercury Cash processes from registering an account to buying or sending a cryptocurrency, intelligent notifications were implemented from the app that includes transaction timers.
-Compliance: We have hired Chartwell, the most recognized compliance and risk management firm in the crypto industry to carry out the Mercury Cash audit procedures, and increasingly strengthen our processes.
-AML monitoring system: Lorenzo our compliance officer along with the technology department worked hard on the design of the automation of our AML system that will be implemented in Q1-Q2 of 2020, optimizing the hours of work that today are invested in compliance and making the work much more effective.
-We add the EURO wallet: Great step to expand our market and offer more FIAT ramp solutions to our users, without a doubt the cryptocurrencies have consolidated and more and more industries want to work with the ecosystem.
-Top 10 Startup in Orlando: Mercury Cash rose from position 9 to 6 among the top 10 Florida Florida ventures according to Tech Tribune http://thetechtribune.com/10-best-tech-startups-in-orlando/
-OTC private desk: Our high-volume transaction clients have enjoyed our OTC service for orders over $ 100,000.00, and have become an anchor product of Mercury Cash.
-Server infrastructure: Looking for continuous improvement in Mercury we adapt the most robust and current technologies in the market, based on the quality of service for our client and only accepting excellence as a result.
1.-Infrastructure and Networks
1.1.-Servers: we currently have services distributed and segmented in microservices to achieve high availability, using Kubernetes, Docker, MySQL, Nginx, NodeJS based on the “Best Practice” of Cloud Native Computing Foundation
1.2.-Containers: Using Docker and microservice segmentation we only allow containers without vulnerabilities and use certified registration services such as “QUAY.io”
- 2.1.2.-Sass: Syntactically Awesome Style Sheets
3.-Code Quality Control
3.1.-Continuous Integration / Continuous Delivery
- 3.2.1.-Unit testing
- 3.2.2.-Integration Testing
- 3.2.3.-Stress testing
-Design: The image of Mercury Cash 100% was renewed, the logo and corporate colors were changed.
-Customer support: Mercury Cash has optimized its processes by implementing new customer service policies that proactively seek to provide more agile and effective support, aiming to improve response times and providing the necessary tools for our users to have a more personal and satisfying experience that allows them to achieve their goals with the use of our platform.
-Instagram: The @mercury.cash account was verified by Instagram
-Facebook: Facebook continues to deny Mercury Cash advertising services despite being one of the most regulated crypto companies in the world, we will continue submitting our approval request to advertise more users.
-Google Ads: Google Adwords maintains an advertising license to Mercury Cash to advertise.
-IOS and Android app: they were made from scratch with a new technology stack, more versatile and modern, and using best practices, the new version of the app has an improvement of more than 1000% taking into account consultation times and loading speed.
-Prepaid card: we have been making efforts to launch this product, however, things have not gone as we wanted. We hope in 2020 to get a good technology provider to offer prepaid cards to our users.
To get a little more detailed numbers achieved in 2019 I feel happy to share with you these updated graphics:
Total accumulated users
Total revenue per month
Number of transactions per month
Total volume processed per month
Total deposits in Mercury Cash
What’s next for this year 2020?
We will concentrate on developing more sophisticated tools for our users both individuals and companies, we want to have the highest standards to offer payment processing to the largest companies in the world. The Mercury Gate service (available online and on-site) is expected to grow the company’s operations significantly. The Mercury Partners program will also generate a positive impact on sales.
Carry out a corporate legal restructuring, and transfer the holding company to Estonia, prepare and launch an offer of shares with a new market valuation due to the significant growth we have had. If you are interested in buying more shares or if someone you know wants to buy company shares please send an email to [email protected] that as soon as we start the new offer, the equity department will get in touch.
The year 2020 will be a year of great growth, many companies that have been working for a long time, are finishing their products and the market size will continue to grow.
US Mail Address: Mercury Cash – 5764 N. Orange Blossom Trail # 303 Orlando, FL 32810
Contact: [email protected] – +1 (877) 713–3795