Last Update: August 7th 2018
We created Zapple to provide an easy place for trading SIFT. Since launching we’ve seen that it can be so much more. What started as a way to convert SIFT has grown in to a fully functional exchange and we’ve got a lot more coming.
We’re building Zapple into a fully-fledged bank.
Over the next 12 months we’ll be receiving our financial services licenses and with this we’ll not only be able to accept fiat payments for cryptocurrencies, but we’ll also start offering full day-to-day banking facilities for individuals and businesses in the cryptocurrency space. From early 2019 you could use Zapple as your sole bank account equipped with debit card. There’s a lot more to come after that.
We want SIFT-holders to be aware of the following changes that will be happening to Zapple over the next few months:
1. Zapple is being spun out of Logical Trading Systems into its own company. This is being done to give Zapple the chance to grow as its own business independently from the range of other activities that we do. Zapple is being moved to Estonia and is obtaining EU-wide financial services licenses to offer a safe, secure environment for trading and banking.
2. Zapple is seeking investment and will be run as a separate company. We will be bringing onboard additional board members and staff over the coming months so that it runs as its own entity. This will be completely separate of SIFT and Logical Trading Systems.
We’ve had questions from some investors about the time impact of Zapple and other activities on SIFT. It’s right for these questions to be addressed with the upcoming changes in Zapple. Ultimately there will be no change whatsoever in how SIFT is running. James will remain full-time working for SIFT, managing the fund and overseeing trades. Guy will continue as SIFT’s CTO with the same workload that he currently has. With most systems for SIFT now developed Guy’s workload has reduced a lot since the start of the ICO. Guy will continue to manage day-to-day business operations for SIFT and maintain all software development as required. For the last few months Guy’s allocation has been approximately 20% of time on SIFT and this will continue. There will be no change in how SIFT operates. Feel free to raise questions in the SIFT Telegram or via e-mail.
Some SIFT-holders may be interested in investing in Zapple. We are about to begin an investment round seeking to raise €245,000 for 15% of the company. Investment starts at a minimum of €500 and all investors receive a direct shareholding in the business. This is not an ICO. All investments are in Euros and all investors must complete KYC procedures. The business will be SEIS/EIS eligible which provides a significant tax benefit to UK-based investors. If you are interested in learning more about our plans and want to see our investment prospectus and pitch deck, then please e-mail [email protected] and we’ll get in touch.