Financial Express or ‘FE‘ is set to launch this end of the month according to the company operations manager, Dev Bethel.
Brainchild of Online Shop Inc founders Siraaj Ahmed and Terry McGinnis it is set to become Britain’s first ‘home’ exchange to better compete with the likes of Coinbase and Binance, who recently had issues with FCA who deemed the company “unfit for trading”.
The unregulated industry of cryptocurrencies and digital assets is set to see an end with Britain’s first and own exchange spearheaded by Knightsbridge-based company Financial Express which has won favor to launch at the end of August with new stringent requirements to help prevent fraudulent activity and protect consumers from ever increasing scams and other fraudulent behaviour adopted by cybercriminals.
The exchange will act as a central hub for all ‘decentralised’ activity within the United Kingdom offering services that of other exchanges operated in the United States with several additions for consumers including cheaper trading rates and heightened and tightened security and fraud prevention. The company aims to provide a secure and consumer-focused environment that of a bank, providing an easier way to communicate with HMRC and is hopeful that leading bodies such as the Financial Conduct Authority will provide ample support to help protect the British public from ever-increasing threat of international financial crime cartels by offering a platform that has seen multi-million-pound investments to develop and scale at a rapid pace leading by example for other international firms and funds to follow.
The company will also adopt and provide a community-centric approach to its governance by allowing its customers to have a vote in the critical decisions it makes, reminiscent of a ‘Co-Op’ with hopes of providing ways to fund disaster relief, cancer, and pharmaceutical research to make lifesaving medication accessible to all, a belief that the company’s founders have cemented with their New York-based e-commerce firm, Online Shop, through providing free access to military veterans for life and technology to government institutions.
At the current moment, most companies operating in the United Kingdom have to go through a rigorous approval process by the Financial Conduct Authority and follow money
laundering and anti-terrorism financing legislation. The company has set stringent requirements for tiered identification and processing of information to help combat identity theft, monetary fraud, terrorism financing, and money laundering.
According to Companies House records the company is chaired by both founders and a member of the Rothschild family with thanks in part to one of the founders coming from the banking family, helping it cement as a financially orientated and knowledgeable institution from the start.
With the recent dips in the market, a new digital boom is predicted to come soon enough, and the company hopes to make it easy for individuals, financial institutions, businesses, and accountancy firms to better report any activity to HMRC in order to provide economic innovation within the country and a new feeling of excitement by leading the way within the field.
The company has also recruited Jacy Cunningham (Community Manager), Dev Bethel (Operations Manager), and Online Shop alumni Joe Todd and Dr. Kendricks Lao.