In 2017 the blockchain space was
on fire. New technologies were being designed, created and deployed across
multiple different technologies. The future was bright, and opportunities were
everywhere, but there were still major choke points in the Blockchain and
Crypto ecosystem which still exists today, Fiat and Banking Gateways to the
Since 2017 there have been exchanges
and fiat gateways available in many different countries, each with their own
set of rules and niches, but not all can be trusted equally. Many offer access
to the market but have substantial restrictions on deposits, long wait times,
low number of fiat options and high deposit and withdrawal fees. Our goal was
to address and eliminate these friction points to the client experience.
coinpass was originally founded
in 2017 by three founders already working in Tech, Cybersecurity and Financial
Services. Jeff Hancock the CEO has a long technology career from Hotels,
Casinos, Datacentres and working within the hedge funds. Jason Fitzpatrick the COO has over 25 years’
experience in Financial Services in compliance, regulation, trading. Paul Tiley
the CTO has worked in some of the largest entertainment brands in the world
such as Sony & Merlin Entertainment securing and developing their
networking and software environments.
The management team had a specific
goal to become of the most trusted, premium quality and best service Fiat
Gateway in the UK. coinpass’s objective was to serve both retail &
professional investors, across several different products granting access to
the crypto market in GBP with a fast, secure, frictionless trusted partner.
Even today, many of our
competitors in the UK market are following a foreign regulation regime which
doesn’t serve or protect the average UK investor. This mismatch of financial
regulation, anti-money laundering and know your customer requirements from
other countries do nothing but hamper Crypto and Blockchain adoption for the UK
Retail investors looking to work
with a local trusted brand with an approachable and helpful support team, with
great prices and secure storage can use our coinpass Buy & Sell platform.
Professional traders will have
access to our highly secure, offline cold storage, high liquidity trading
the platform from the end of Q1 2020.
Businesses and OTC dealers
looking for larger deals can take advantage of our large liquidity pool and
regulated banking partners to execute larger trades with security and piece of
In 2020, coinpass will look to
partner with DeFi protocols to give investors access to Decentralized Finance
products directly from their local fiat currency in a few clicks without the
use of an additional 3rd or 4th party. We believe that
DeFi is the next big step for blockchain to become widely adopted by big
business and enterprise and can provide investors with a lower risk, easier
access and higher return options than many traditional asset classes.
Learn more about crypto, blockchain and trading at our blog: https://blog.coinpass.com
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