Fintelum – blockchain technology initiative by former Globitex team
After a successful ICO and a controversial ousting earlier this year, Liza Aizupiete, the former Managing Director of Globitex, and her team are back; and are stronger than ever, with the launch of their brand-new venture, Fintelum.
Fintelum is a blockchain technology initiative, which aims to provide businesses and individuals with useful everyday cryptocurrency solutions.
Headed up by Liza, the Fintelum team is formed of highly experienced professionals, who previously built a regulated cryptocurrency exchange Globitex and worked to successfully close a landmark ICO earlier this year. The team includes Arvis Ermins, as Legal and Compliance Director, as well as Maris Kaneps, as Director and the Head of IT, amongst other long-time team members.
Learning from their previous successes as well as their mistakes; the first product, the Fintelum team have developed is a fully AML/KYC compliant token sale toolkit.
In compliance with the 5th EU AML Directive, the toolkit solution caters to companies and start-ups looking to raise funds via token offering process. The service includes: contributor KYC profiling, live ID verification, AML checks, co-management of crypto funds and issuance of the Ethereum based EIP-20 (ERC-20) tokens.
The team have made strides in implementing this first product, by most recently securing two licenses from the Estonian Financial Intelligence Unit (FIU). The licensed activities are (i) providing a virtual currency wallet service and (ii) providing services of exchanging a virtual currency against a fiat currency.
Token issuing businesses that choose to follow regulated Fintelum’s token sale standards are able to access global banking, token listing and liquidity services more easily.
Make sure you keep an eye out for Fintelum’s second product to market — a free web-mobile and desktop, open-source wallet for multiple cryptocurrencies. Not only will this be completely free of charge for users but it will also effectively allow anyone to “be their own bank” by utilising the private key management system.
The next 12 months are going to be game changers for the business along with the industry with the launch of our new products. It’s a very proud moment for me and my old team to embark on such a sizeable project. Watch this space!