PLEASE READ
Some of you keep coming back and asking about Coinffeine, and it is only fair we tell you what is the status on our side until we have an updated website.
Internally, it's been a tough rollercoaster which made us more passionate and committed.
When it comes to our application, we attempted to release it twice, and found out how difficult it was to reach a critical mass of users. A distributed exchange has plenty of advantages, but one disadvantage is that there is not one central point to inject liquidity. More recently, regulatory changes would have forced major redevelopment, higher running costs, and some loss of "flare". Besides, all along the way, external payments processors were necessary for the fiat side of the exchanges, and were thus an integral part of our solution that we had no control over.
For all of the above, we have pivoted and adapted the business model to make a B2B offering. Here's the reasoning:
Financial institutions and other entities seeking to offer cryptocurrency buy, sell and custody services may resort to building them up from the scratch, or partnering with crypto exchange and custody service providers.
There is, however, an alternative, unsuspected approach. Coinffeine has developed a matching protocol and a distributed application with which end users/clients are themselves exchange and custodian.
With it, cryptocurrency services can be deployed bearing no financial risk and no custodial responsibility, whilst always staying in full control. Virtually no integration with existing applications is needed and the distributed nature of the solution requires less infrastructure and maintenance, so that time to market, cost of deployment and running costs, are drastically improved.
On top of this architecture we plan on developing solutions for cryptocurrency OTC orders, tokenized securities secondary markets, marketplace for NFTs, and more.
To all of you who supported us along our journey to this point, we thank you! We may find a way to get back to our origins some time in the future...
We now stand for Distributed Exchange and Self Custody. If you would like to join us in this exciting new adventure, would like to fund us, or if you are interested in our solution, please contact us at info@coinffeine.com.
Best regards,
Rafael. CEO.
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