The LYOPAY team is grateful for the thousands of users who attended the third edition of our Company Meetup. We are always delighted to share with you the progress of our products and services and we thank you for joining us on this journey.
- LYO Credit (LYO) has been listed on CoinMarketCap and CoinGecko.
- LYOTRADE and LYOPAY have acquired financial licenses in Georgia for Portfolio Management, Digital Asset Trading, and Custody Services.
- LYOPAY Academy, LYOTRAVEL mobile app, LYOBANQ, LYOWALLET, and LYOCARE will roll out soon.
- LYOPAY is gearing up for the next bull market in 2024 by creating winning products and adhering to the latest crypto regulations.
Amit Sharma, LYOTRADE’s Product Manager, shared the crypto exchange’s milestones for the first quarter of 2022. These are the launch of the LYOTRADE website, the introduction of 10 tokens on BNB Chain and Tron, and the listing of CHER token.
The latest updates include the launch of LYOTRADE’s android app, the listing on CoinMarketCap and CoinGecko, the acquisition of a new financial license in Georgia, and a new set of staking offers.
For quarters three and four, Amit plans to add more crypto earning mechanisms like Cloud Mining, support USD bank account for withdrawals and deposits, add withdraw and deposit in INR for Indian markets, establish an office in India, create a Brazilian real account and wallet service in Brazil, and add masternode service, gift card, and mobile top-up.
For the community to stay in the loop about LYOPAY’s marketing initiatives, Mac Ocampo, LYOPAY Chief Marketing Officer, laid down the company’s marketing updates. These include marketing collaborations with centralized exchanges, the launch of the ambassador program, LYOPAY Academy, and the company’s participation in the DIFC Fintech Week held in Dubai.
Mac also told the viewers to watch out for the one big LYOPAY event on July 30-31 that will take place in Dubai as well.
LYOTRAVEL and the Latest Additions to the Ecosystem
Mert Mamo, LYOPAY Product Manager, presented the achievements of LYOTRAVEL during quarters two and three of 2022. Mamo eyes the launch of LYOTRAVEL’s mobile app, referral program, partnership with Uber, and collaboration with restaurants to accept cryptocurrency.
He also announced new services that will be added to the LYO ecosystem — LYOWALLET and LYOBANQ. The first is a non-custodial wallet where users can also buy and sell cryptocurrencies and trade digital assets without undergoing any KYC process. Moreover, it also acts as an NFT storage. On the other hand, LYOBANQ is a neobank technology that offers B2B and B2C digital banking services and will be available in 190 countries.
Another service that Mert presented is LYOCARE, which aims to extend a helping hand to the ones in need wherever they are in the world. The initiative is planned to begin in countries in the Middle East, Africa, and Europe.
Compliance: Building a Regulated Crypto Ecosystem
Solandia Jurdi, Head of Compliance, discussed how the company protects the accounts and transactions on the platform. Apart from the team’s compliance-continuity framework, KYC and AML screening, legal and regulatory compliance research, and transaction monitoring, collaboration with third-party service providers is also in play.
- Sumsub – for identity verification, sanction and PEP screening, and continuous monitoring
- Chainalysis – for monitoring all direct and indirect transactions on the blockchain and detecting any criminal activities on the blockchain
- Huntli – monitoring all incoming and outgoing fiat transactions and detecting any suspicious and criminal activities related to payment behavior and trends
Jurdi also shared LYOPAY’s achievements including two new financial licenses in Georgia, integration of LYOMERCHANT with Chainalysis, KYB solution of LYOTRADE, and over five exchanges using LYOPAY’s liquidity in their exchange, and first stages of onboarding internationally on LYOPAY.
Bridging Traditional Finance and DeFi
According to Baiba Broka, LYOPAY Legal Advisor, the lack of inclusive DeFi platforms creates a gap in the market. She emphasized in the online meetup that LYOPAY is building a connection between traditional banking and decentralized finance services that are offered on the blockchain. She added that the other ways of achieving this is through compliance, transparency, cybersecurity, and involvement in law drafting activities.
LYOPAY’s Project Growth
Alessio Vinassa, LYOPAY’s Business Accelerator, kicked off his bit by announcing the milestones of the platform for the past months. The company has now four offices in Dubai and there will be other offices in South America, Africa, India, and more.
Another big achievement that the business accelerator manager shared is Fireblocks’ approval of LYO Credit. Fireblocks is one of the largest blockchain security service providers for digital assets.
LYOPAY Ambassador Program was also teased. It is a brand ambassador program in which crypto enthusiasts will be trained to become LYOPAY’s advocates in selected countries. This program will help in teaching people about cryptocurrency and encouraging them to enter the crypto world.
Alessio announced LYOPAY Pro. This features fiat pairs that include EUR, USD, GBP, CNY, and JOY; IBAN – SEPA and SWIFT; fully branded plastic cards; virtual cards compatible with Apple Pay and Google Pay; card coverage of more than 150 countries; and services such as top-up, send, receive, exchange crypto concierge services. Users can expect in the future a bunch of innovative crypto services that will be added to the ecosystem — LYOAGENT, LYOBROKER, LYOCUSTODY, LYOSAFE, LYOCHAT, and LYOSMART CHAIN.
Another ground-breaking news is about LEVEL21. The crypto launchpad has chosen a crypto project to scale up — Zenit World. It is the first ecosystem that allows users to access complex algorithmic and high-yield DeFi trading strategies. Zenit also works with licensed partners, asset management, and custodian licenses.
Zenit collaborates with its partner company that collects data from the crypto market using fundamental analysis and data analysis. These data are then used to create the Algo trading Strategy. More information about Zenit World will be shared soon!
Those who attended the MeetUp will receive a registration link for LYOPAY’s big event on July 30 and 31.
Will LYO Skyrocket?
Yes. Despite the prices plummeting in the crypto market, we firmly believe that the best companies are created in the bear market. LYOPAY has a clear roadmap and the entire team is working hard to create the most complete crypto ecosystem in the market and make the company’s plans come to fruition. We predict that 97% of exchanges in the world will shut down in the next two years because of their lack of license, compliance, anti-money laundering protocols, and access to fiat channels.
LYOPAY strives to develop compliant products and maintain its licenses so that the platform will grow and attract new clients. Moreover, because of compliant pooling and complete adherence to the requirements of regulators, five different exchanges chose to use the company’s platform for liquidity.
LYOPAY’s goal in 2022 is to build its products and its community, so by 2023, the platform will have the most complete ecosystem for cryptocurrency with one million users worldwide. This is to prepare the platform for the next bull market in 2024.