May 1st 2019
We are now well into Q2 of this year 2019, and today we are happy to provide an update on what has been ongoing at Mt Pelerin since the previous roadmap update. As you are about to read, a groundbreaking platform is taking shape and you will soon have a first outlook of what the future bank’s marketplace ecosystem will look like.
As introduced in the previous update, in parallel of Mt Pelerin’s banking license application the objective is to already start offering a one-stop shop for security tokenization and STOs covering the tech, the interface and the compliance. This offering is being finalized now, and the website will be updated with all the relevant information imminently.
This one-stop shop will include:
The purpose is to make the Mt Pelerin Bridge Protocol widely and easily accessible to any business wishing to leverage the most advanced compliant tokenization protocol, at a much more reasonable cost than the existing alternatives, to raise funds.
In practice, this platform will allow issuers to create and customize their token as well as setup their sale. It will provide a management interface for them as well as an interface for their contributors to register, KYC and contribute, which you have already started to see with the first version of the app that was published on the App Store and Google Play.
Mt Pelerin will be able to assist issuers from A to Z in the security token offering process, or to intervene on specific aspects only.
A free, self-issuance interface will also be able for customers who don’t require technical help. It will be available through a webpage, where the user will be able to go through a straightforward issuance process:
Until Mt Pelerin becomes a fully licensed venue, we will release a truly decentralized exchange (DEX) designed for any ERC20 security token issued and living on the Mt Pelerin Bridge Protocol.
For this DEX, we also plan to bring fiat-pegged tokens that will be buyable and redeemable at Mt Pelerin on a daily basis.
In this way, users will be able to trade on the DEX with fiat currencies directly, and the MPS token will also benefit from trading pairs with fiat currencies.
The wallet is being finalized and will be added to the mobile app within Q2. With it, in a single place users will be able to:
The protocol behind this tokenization ecosystem is taking its final production shape, with complete cross-asset compliance capabilities that will establish it as the most relevant candidate for a durable and widespread adoption. More specifically, the programming and management of regulatory compliance is independent from a particular token issued on the Mt Pelerin Bridge Protocol, and can therefore be applied and enforced across an unlimited number of tokens and users.
It is a much more refined approach than existing tokenization protocols that are limited to whitelists for each individual token, and Mt Pelerin continues to push its open protocol as a standard with the help of the Swiss association CMTA.
Mt Pelerin Compliant Tokenization Ecosystem Diagram
As most of you know, listing a security token on an exchange today is still a challenge. Things are slowly evolving with new exchanges being in development, and we are actively following this progress and talking with relevant exchanges. Although we can’t give any guarantee, we are pushing for a listing in Q2 2019.
In the meantime, we have noticed that the MPS token is tradable over-the-counter on ForkDelta. This venue is a non-custodial exchange whose regulatory status is unclear, and not a truly decentralized exchange. Therefore, if you would like to use this platform, please note that it will be at your own risk. It is also for this reason that we are working on a true DEX as described above.
Negotiations with investors to secure the funding required for Mt Pelerin’s banking license application have taken place continuously in the past months. Although there is not much information that can be disclosed about this process while it is ongoing, it will remain our top priority until it is complete and successful.
To know more about the raising of the required capital for Mt Pelerin’s banking license application, please refer to the previous roadmap update where it was presented in more detail.
As some of our sharp-eyed followers have already noticed, Mt Pelerin is working on the development of a cutting-edge, quantum-based solution for the secured distribution of keys between redundant key storage systems (HSM). The development of that solution will not only serve to address some IT security requirements of Mt Pelerin’s banking license application, but it will also be part of our future state-of-the-art offering for financial institutions and central banks. Together with the future-proof open core banking system that we are developing, this hardware solution will contribute to establish a total infrastructure solution for institutions.
May 21st 2019 - Lausanne, Switzerland
May 23rd 2019 - St Julian's, Malta
June 6th 2019 - Lausanne, Switzerland