During the first quarter of 2019 the SMART VALOR team has stayed focused on three key topics: to go-live with the SMART VALOR Platform, advance on regulatory licensing processes and fundraising.
On the platform side, we are happy to announce that we have finally finished the development and internal testing phase for the first part of the exchange for cryptocurrencies, utility and payment tokens. This part enables users to onboard, pass KYC / AML, purchase virtual currencies with fiat and trade cryptocurrencies and other non-security tokens on a fully automated exchange. With this we are moving one step closer to launching the first cryptocurrency exchange domiciled in Switzerland and Liechtenstein. The integrated custody solution, which we provide jointly with Ledger, has been put in place to secure the crypto assets of the exchange users.
We are excited to announce to our community that we will shortly be opening up the platform for external beta users. The goal of this is primarily to receive a user feedback from the people that count the most, you - our users.
If you are interested in participating - Simply Sign-Up Here
On the VALOR token side, we are quickly approaching the token generation event. Our tech team submitted the VALOR token smart contract for external security audit by ChainSecurity (the blockchain security experts behind the finding of the security issue with Constantinople, Ethereum fork in January). It consists of a dedicated ERC20 token with some extra functionalities like burnability and immediate allocation of funds to a number of monitored wallets at token generation event. The security audit underlined very good coding practices, no critical vulnerabilities were found and only a few slight improvements were needed based on the comments received.
In other exciting news, despite the bear market and the significant slowdown of investments in the blockchain sector, we have signed two new strategic investors. This is a great achievement for as we will be able to move on with public release of the exchange without a delay. We are confident that we are well positioned for a great start of the SMART VALOR exchange - the world’s first security token exchange for alternative investments.