Dear investors, colleagues and friends,
Many young and promising FinTech firms have elected to use technology as a means to provide consumer benefits and fairer access to financial services.
Having spent years in Financial Technology for Foreign Exchange, we felt the urge to deliver our own “disruption”, and every participant agrees that this market indeed needs change.
FX, the oldest and largest market in trade volumes, had all the time it needed to evolve. But being perpetually dominated by Banks with monopolistic tendencies and low tech-IQ, FX was kept in the dark ages. Imagine reams of trading tickets, dizzying number of redundant messages sent around the world, for what is actually the most simple model imaginable: change my $ for £.
FXCH is dragging FX, screaming and kicking, into the 21st century. We had no axe to grind, no consortium to please. Just efficiency, enhanced by the transparency of the BLOCKCHAIN.
If like us, you would like to participate in the disruption of the largest market in the world, I welcome your investment with Seedrs.com Equity Crowd Funding round. Your support is greatly appreciated.
The Blockchain has caught the headlines consistently in our finance industry press for the past three years, to a point that many have already forgotten why this technology changes everything. Here is why at least for our Members:
The Blockchain allows writing data into a file in a way that can be cryptographically (think passworded) signed and thus guaranteed as original. Any attempt to alter it afterwards would reveal the cheat immediately. In addition, the propagation of that file to interested Users can also guarantee that every recipient possess an exact replica.
Applied to a Ledger of asset records, it is now possible to trace the movements of your currency balances for example and, provided you agree with each single entry, be certain that the result is “the truth”. FXCH can operate as a “truth register” of our Members currency assets offering unprecedented transparency with these Blockchain operations.
Blockchain is often associated with Bitcoin, its first use case. But Blockchain has already proven a game changer in many other applications, including in finance, the medical field and supply chain tracking. FXCH can be described as “proof of ownership” and the most powerful in nature when applied to the financial markets.
Our crowdfunding platform is Seedrs. Seedrs equity crowdfunding allows their participants to invest in companies they believe with commitments as little as £10. Also it is noteworthy that recently Seedrs saw the first IPO by one their portfolio companies.
FXCH will use these funds for two strategic purposes:
EIS (The Enterprise Investment Scheme) is designed to help smaller, higher-risk companies raise finance by offering tax relief on new shares in those companies that qualify. For the investor, it’s a tax efficient way to invest in small companies.
The EIS is aimed at the wealthier, sophisticated investors. People can invest up to £1,000,000 in any tax year and receive 30% tax relief. However, they are locked into the scheme for a minimum of three years. EIS seeks to encourage investment into unlisted companies, just like the ones featured here.
SEIS (Seed Enterprise Investment Scheme) SEIS is an incredibly generous derivative of the Enterprise Investment Scheme (EIS) and was introduced in April 2012. Its aim is to encourage seed investment in early stage companies. Investors, including directors, can receive initial tax relief of 50% on investments up to £100,000 and Capital Gains Tax (CGT) exemption for any gains on the SEIS shares.The maximum amount to be raised for each company is £150,000.
On July 1st, 2016 FXCH cleared the first spot trades on a Blockchain. It means we became the first company in the world with the capacity to clear and settle trades without the need for a Bank.
FXCH is based and registered in Dublin, Ireland. Some of our team members are located in London, Sydney, and Budapest.
FXCH is a team of friends and colleagues, some of us have worked together for 20 years in Finance. Since 1995, our other companies have established offices in London, Dublin, Budapest and Sydney.
As individuals, we have long term relationships with major market participants, with both banks and non-banks. If you are an FX professional in a large institution, you have probably already worked with us.
Our personal preference for Open Source software has benefited our previous business ventures in multiple occasions. Today, Crowdfunding for Finance is what Open Source achieved for the Software world: independent investors of any size can participate in Startup funding rounds without paying heavy fees to an Investment Bank.
Tendermint is a leading Blockchain team of open source developers established several years ago in California by Jae Kwon and Ed Buchman.
Tendermint are the first Blockchain specialists to have tackled the BFT (Byzantine Fault Tolerance), or in simple words the “Proof of Stake” protocol that is necessary to ensure that a digitized asset cannot be double spent. The Core tools that they have put into the public domain are uniquely suited to design flexible business models like that of our Clearing house.
Unlike older monolithic Blockchains, Tendermint is extremely scalable, fast, secure and reliable, and well suited to the needs of financial institutions for granting various levels of permissioning.
In addition, Tendermint has won the Blockchain Innovation of the Year 2016 at the Shanghai Devcon in September, the most prestigious award in the field.
Participating in FXCH with Seedrs.com will give you an opportunity to change the way FX trades are cleared, offering transparency and efficiency in the FX market. Seedrs.com is inviting you to become FXCH equity partners.
This campaign for FXCH Ltd. has been approved by Seedrs Limited, as of 19 November 2016 as a financial promotion. Seedrs
is authorised and regulated by the Financial Conduct Authority. Seedrs.com is not available to US citizens and US residents.