Dear
@Beru, Sir
A really brilliant and resourceful question Sir. Give us chance to answer as best as we can
@Beru Sir.
This is very interesting. I think this would be a great addition to the dash ecosystem.
Thank you for your interest, Sir. We will ensure do our best to give by giving much more exposure and education to people about Dash and how easy it works. We strongly believe Asia still one of the best regions for Dash penetration Sir.
Do you have an idea how many fiat/dash pairs gonna be integrated?.
As for now, we are working on integrating with :
SGD / DASH , DASH / SGD ( as we have our very own company and bank account in SG )
MYR / DASH , DASH / MYR ( since this is our homeland )
IDR / DASH, DASH / IDR ( we have strong clients support back in Indonesia )
Do you have plan to grow to other markets outside of Asia? .
We do have plan to go beyond Asia but personally, we would love to make sure our foundation is strong enough to penetrate beyond Asia as we don't want to bite off more than we can chew Sir but its great question and recommendation.
Whats the KYC/AML exigence in your jurisdiction? Sorry if those questions were already answerded and didnt catch them.
As per KYC / AML, let me brief what will we do to ensure we comply with legal. There will be divided into 3 basic level for client / end user which are :
Level 1) verify by email and phone number only - only can keep Dash unlimited with limited to 3000 MYR or equivalent value converting amount to fiat. The client can easily transfer from Dash wallet to Dash wallet unlimited but when it comes to convert directly to fiat, it will be capped to 3000 MYR or equivalent value.
Level 2) Submit photo/scan of government-issued ID and basic personal information - only can keep Dash unlimited with limited to 10,000MYR or equivalent value converting amount to fiat. The client can easily transfer from Dash wallet to Dash wallet unlimited but when it comes to convert directly to fiat, it will be capped to 10,000MYR or equivalent value.
Level 3) Submit proof of residential address - only can keep Dash unlimited with limited to 30,000MYR or equivalent value converting amount to fiat. The client can easily transfer from Dash wallet to Dash wallet unlimited but when it comes to convert directly to fiat, it will be capped to 30,000MYR or equivalent value.
As for merchant side, they will required to submit basic company documentation but much more simpler to ensure the process is easy for merchant to submit their application to us as in based on our personal experience, we faced a lot of paperwork and documentation when it comes to merchant application as it is related to banking requirement.
Above level have been advised from our personal legal team to prepared with incoming regulation from our Central Bank in Malaysia.
As for legal opinion from Singapore side, Monetary Authority of Singapore will regulate for Crypto-Based Businesses, Not Cryptocurrency Itself. So, we are working in advance first to comply with the regulator to ensure smooth operation in future.
As for Indonesia, we are still waiting our partner / end user there to revert us about the legal opinion from their side Sir but the current status in Indonesia, peoples can still do cryptocurrency business but no legal guideline yet from Indonesia Central Bank. We will keep update about the latest news on Indonesia market in future.
Hopefully we answered your question properly Sir.
If anything that may come across your mind Sir, don't hesitate to ask me.
We are here at your disposal to answer your question Sir.
Thank you again for your interest and question Sir and looking forward for you Sir.
Cheers,
Amzar
RocketTeam