SIMEX Bank

The new world, created by the emergence of crypto industry, has posed many challenges and problems for the finance and investment industries about how to function in the light of new technological opportunities and regulatory rules.
Acting business practitioners, software developers, lawyers, governments and regulators of individual states, work on this.

We, having more than 25 years of experience working in the classic investment banking industry, and having been practicing in the crypto industry since its inception, invite everyone to go along with us to create and develop a new institution — a bank that can respond to new challenges by offering services that meet the interests of all participants in the crypto industry.

The main problem of crypto industry is that for classic banks it is often impossible to provide service to such customers as crypto currency exchanges and any other companies to some extent linked to crypto currency due to various reasons, from not taking risks, to simply not being able to understand the industry itself. The world, incomprehensible to them, brings about fear and misunderstanding, which causes rejection and refusal to enter into any form of cooperation.

Of course, we already see banks trying to find their income in the free niche, such as Metropolitan Bank, which became Coinbase bank, and a number of banks, listing the names of which does not make sense, for the reason that they are still limited in their activities by local regulators.

Our task is by combining the functionality of the licensed crypto exchange SIMEX and the bank being created, to build an infrastructure that allows to perform all types of transactions related to the functioning of crypto currency, digital assets in the form of all types of tokens and classic currencies regulated by various states, such as the US dollar, Euro, Yuan, British pound and so on.

Currently, we differ from the others, taking into account the fact, that without attracting any investments, on our own funds, we have created the whole necessary functionality of the bank, capable of operating in full with all the requests from all participants of the crypto industry.

It is necessary to legalize the whole functionality through obtaining licensing and further dissemination of the bank’s work, through opening correspondent accounts and developing a network in the cyber- space in order to work with the maximum possible list of classic currencies and within the framework of various jurisdictions.

The following functional opportunities have already been realized so far:

- Opening of accounts

- Opening of subaccounts

- Internal transfers between the customers (bank) of all types of assets (money, tokens, crypto currency)

- International transfers (SWIFT, SEPA)

- Issuing of bank cards (that is, their integration with all types of assets on the accounts and with instant conversion into one another)

- Crediting each other against the pledge of existing assets

- Investment opportunities at primary and subsequent placements of STO

- Placement for corporate clients of their shares, through tokenization directly on the stock exchange through IEO.

- All possible services of maintenance of digital user assets

Financial needs for the implementation of this project are conditioned by the requirements of regulators who request deposits for considering the applications of issuing licenses (with the availability of a ready-made developed software product, investors' money is not spent at all, but only provides support for passing legal procedures).
According to the list of all deposits that can be viewed in open sources, $ 20 million is needed for the full implementation of the project.
Upon receipt of 1 million dollars, we can already proceed to registering the bank in the Cayman Islands or in some other jurisdiction , with a subsequent exit to the mainland USA (opening correspondent accounts) in Europe and Asia.
The amount of the deposit is determined by the regulators of various jurisdictions and the maximum possible amount is $ 5 million.

Investment is raised through the sale of SMB tokens issued by SIMEX Inc., the developer of the SIMEX platform bearing the same name, at the rate of one token equaling to 10 US dollars and the total number of two million tokens. After registering the bank, all tokens will be exchanged for common or preferred shares of the bank or for shares of SIMEX Group Inc. holding depending on the investment preferences of the investor.

This project will be supervised by the current SIMEX team with the participation of professional and experienced people needed to achieve its full functioning.

During the ICO boom, a lot of different teams conducted successful fundraising, declaring the creation of crypto banks, capable of competing with ordinary banks as they develop and provide the entire range of crypto services to companies.
As a result, such teams, having received licensing, either turned into ordinary banks that did not solve the problems of crypto companies (we ourselves tried to open accounts in such banks, but could not do it for the same reasons as we would do it in ordinary classic bank), or could not, basically, realize the potential that the crypto industry gives for such solutions.
A number of banks from the “old world” have met crypto industry and offer services for crypto companies, but as a rule they live in old stereotypes and their range of services is limited either by local regulation or conservatism of the internal policy of the bank.
For these reasons, we believe that our concept will be the most progressive and will allow us to successfully compete with both old banks and those who already work in the crypto industry and advance in it, gaining the experience of cooperation. Our main competitive advantage is that we have come to create a bank out from direct tasks and real business practices within the framework of our divisions and work with our clients.

All tasks were solved coming out of the needs and requirements of our users.

All risks will be typical for risks related to the regulation of both crypto industry and banking itself in particular.

The main risks are the risks connected with the security of data and assets, to which our company attaches special importance.

In our opinion, beyond these risks, there are no events that determine the company's activities.

The competition that arises from such kind of an activity is not so special as it could be in any other industry. We believe that our competitive advantages are sufficient to take a leading position in the provision of services based on the advanced development of our software product and the capabilities of our team, due to the experience and connections of its participants, both within the industry and the societies and professional circles of these communities.