Mt Pelerin (MPS)

Swiss Blockchain Banking

Review Score
4.17/5
ICO Price
5 CHF
Pre ICO Price
N/A
Soft Cap
0 CHF
Hard Cap
2500000 CHF
Pre ICO Start Date
23 October 2018
Pre ICO End Date
26 October 2018
Start Date
30 October 2018
End Date
15 December 2018

What is Mt Pelerin?

Mission

Mt Pelerin wants to be the bank of the future, one entirely built on chain to simplify and democratize complex financial services with fairness, transparency and service excellence as core values.

Overview

Mt Pelerin wants to create a blockchain-based modular platform with a tokenization system that aims to bring the entire bank’s balance sheet on chain. With an open approach that would allow external banking and financial organizations to be included, the goal of this platform will be to leverage tokenization to democratize investment opportunities to the public while heavily rationalizing the traditional cost structure of those financial services. It would also be a bridge between traditional and crypto assets, accelerating the global attractiveness of the platform

100% Deposit Reserve

Money deposited on Mt Pelerin’s current accounts will be kept in full in highly liquid reserve, with the state of the total reserve being public and reported in real time on chain. Unlike other banks, we will not reinvest our customers’ deposits in risky assets for our own profit.

Marketplace Approach

With deposits being kept safely in reserve, Mt Pelerin will not offer banking services itself but rather strive to provide marketplaces with the necessary compliance and technological facilitation built-in. Integrated in an e-banking portal, the goal of these marketplaces will be to connect customers and third party providers and let them freely offer and request services (currency exchange, loans, etc.) at the conditions they choose. Mt Pelerin would act as a market maker through bots populating the marketplace, passing the risk back-to-back to brokers, banks, credit and other financial institutions.

Tokenization of the Bank

At Mt Pelerin, our ambition is to tokenize assets (loans, for instance) and liabilities (deposits), i.e. issue them on Ethereum blockchain (at launch) as ERC20 compatible tokens, creating an ecosystem where smart contracts could be applied. With this approach, we want to bring an unprecedented level of liquidity and convenience to the trade of banking and financial instruments, resulting in disruption of the status quo. This would also create an effective bridge between crypto assets and classical finance.

Modular and Open Banking Platform

Our marketplaces will be built as an open platform providing core services, on top of which micro-services will be added as independent API based software bricks. We will be able to connect the services of third parties to our bricks, and even add their own complementary bricks to our platform. With our inclusive approach, we will create an open banking tech environment that will benefit all participants.

Revenue Model

As we want to exclude revenue driven from on-balance sheet credit, our business model will include fees and commissions taken on services and transactions taking place on our marketplaces. These fees will be significantly smaller than those of traditional banks, thanks to the highly digitalized and automated approach we will take throughout our entire system. Therefore, we will strongly mitigate or avoid many costs usually seen in banks, and we will significantly reduce the power and influence of typical intermediaries by repositioning them as liquidity providers, acting as cost-cutting broker. While the resulting lower pricing would attract customers for some of our services, the unprecedented access to services that were the preserve of private banks and investment bankers would also be a major volume driver.

Regulation

We will strive to become the first blockchain-based bank to be established and completely regulated in a country renowned for the stability and excellence of its financial and legal environment, but also for its open mindedness about blockchain and cryptocurrencies: Switzerland.

We are working towards obtaining relevant licenses (notably banking and security dealer licenses) from Switzerland’s financial regulator (FINMA), and we are preparing the regulatory compliance of our services, structure and funding proposal. For this critical regulatory part, we are working together with some of Switzerland’s best business lawyers and banking specialists.

With this upstream preparation, we want our investors to have as much confidence as possible that the funds invested in our project will go toward its implementation and not into the resolution of regulatory conflicts that would come from insufficient planning

Multi-IBAN Account

We will design accounts with a master IBAN and up to 30+2 dedicated IBANs corresponding to 30 fiat currencies and later on Bitcoin and Ether. Money transfers would be done via legacy route (SWIFT, SEPA, ACH), and tokenized fiat currencies could be sent to whitelisted crypto wallets.

Multi-Currency Debit Card

Clients will be able to make international withdrawals and payments with our debit card connected to our currency exchange and capable of on-the-spot conversion with the lowest fees and a high level of control.

Information displayed on CoinCheckup can be updated by the respective ICOs and/or Crypto representatives and does not present the opinion of CoinCheckup.com and/or the CoinCheckup team.

Trading and investing in digital assets is highly speculative and comes with many risks. The analysis/stats on CoinCheckup.com and it’s subsites are for informational purposes and should not be considered investment advice and or the truth. Statements and financial information on CoinCheckup.com and it’s subsites should not be construed as an endorsement or recommendation to buy, sell or hold.

Please do your own research on all of your investments carefully. Scores are based on averages of third party websites.  Past performance is no indicative of future results. Read the full disclaimer here.