Since completing private round funding in May 2018, Formosa Financial has been working hard in the development of a one-stop digital asset management platform.
Committed to making available a single point of entry to custodial, brokerage and risk management services, Formosa Financial is proud to continue working towards their roadmap goals and begin announcing the first wave of committed clients this Q4 2018.
This first wave of clients to come on board have been carefully selected from their whitelist and will take part in helping to test, refine and develop the platform and services. Out of all the projects and partners on Formosa Financial’s whitelist, they are honored to announce none other than Mithril as their client #1.
Ryan Terribilini, CEO Formosa Financial commented:
“Jeffrey’s knowledge of blockchain coupled with Mithril being such a large established project means a great amount of feedback and use cases for us to refine and develop our platform”
The choice of Mithril as Formosa Financial’s first client was a clear one as we have a history of working together in the development of blockchain and the digital economy in Asia. Mithril being one of the top performing projects of 2018, continues to evolve as an industry leader.
Starting with their Lit social mining app and now the release of VAULT (which will serve as a wallet for token holders to keep their MITH and other cryptocurrencies), feedback and insight from founder Jeffrey Huang and his team will be immensely valuable in the refinement of the Formosa Financial platform.
Jeffrey Huang, Founder of Mithril also stated:
“The Formosa Financial platform addresses a major market need for projects that don’t want to waste time worrying about treasury management of their crypto. I’m excited for Mithril to be a VIP client so we can focus on building great social and tech experiences rather than the market movements”
Private Beta Services Available
- Risk & Treasury Management – The partnership and integration with Compound protocol will enable clients access to a platform for interest income and borrowing channels. First phase clients will be able to have early access to certain interest bearing services to be made available on of the platform.
- Custodial Services – Clients will have access to institutional level custodial solutions for digital assets via the partnership with one of the leading custodial providers. In addition to clients getting a wholesale rate from the partnership, deposit/withdrawal and account management functions will be tested during private beta.
- Brokerage – The Formosa Financial dashboard will provide a single access point to multiple exchanges and OTC trading pools via a single point of access, minimizing the need to go through multiple KYC verifications. Once private beta is up and running, first phase clients will be the first to deposit/withdraw funds and convert into different digital assets.
About Formosa Financial
Headquartered in Taipei, Formosa Financial is an international team with extensive experience in blockchain, technology, and finance. Formosa Financial aims to help digital asset holders and blockchain innovators solve some of the major pain points they face by offering them a one-stop digital asset management platform.