Joys Digest #1: Main of April

Hi, this is the Joys team. We are launching a monthly digest newsletter: so you will be aware of the company's news. We will write only about the main events in the life of the project — nothing unwanted and no spam. Well, let’s get it going! In this issue:

  • Joys in Estonia: how we opened the company and obtained licenses;
  • Even more cryptocurrencies! We are working on the integration of new cryptocurrencies into our payment service;
  • New Joys app - what’s new;
  • RACIB Premium Club loyalty program UNDER JOYS DEVELOPMENT;
  • Cryptohumour.

Joys in Estonia: how we opened the company and obtained licenses

People say that Russian rappers are going abroad to shoot a cool video. We would also like to make a cool video, but we do payment service — so we travel abroad to open a company to process financial transactions. We had only two requirements: that the country must have at least one small castle and a bank loyal to cryptocurrencies. The second requirement was difficult: banks are reluctant to cooperate with companies that have just opened. Ancient wisdom says: if the entrance is closed, go through the exit — so we decided to buy an existing company to further change its charter and change the name to Joys Platform OU. We have considered jurisdictions in many different countries:

  • Estonia is the best option for us, native support of companies in fintech-sphere;
  • Czech Republic: we have been negotiating with a potential partner for a long time, when the honeymoon period was over, at the end, we were offered very unfavorable conditions, and on top of that the jurisdiction itself is not the best option for our project;
  • Switzerland: up to $250 000 — cost of the opening of the company, $100 000 - authorized capital, and no certainty on how much the license will cost, terms — starting from 3 months);
  • Malta: the value of what we need here goes up to $ 1 000 000;
  • Cyprus: at the mention of this warm island, our lawyers looked at us very strictly. The word "offshore" was in their eyes. Although it was cheap and fast, we refused;
  • Liechtenstein: a small state, where only one Bank is loyal to cryptocurrencies, and this is a big risk for the project and our future users.

In the end, we chose Estonia — because of the short waiting period (one and a half to two months from the date of application) and a reasonable price. On January 21, Joys team represented by CEO Andrey Mikhailishin and CVO Vladimir Tolmachev met with attorneys in Tallinn, the capital of Estonia. As a result of the meeting, we made a deal to open a company in Estonia and launched the process of obtaining the necessary licenses to work with crypto assets and Fiat money. What are the licenses we are going to receive:

  • Provider of a service of exchanging a virtual currency against a fiat currency (Provider of virtual currency exchange services for Fiat currency) — for multi-currency exchange operations;
  • Providers of a virtual currency wallet service (Wallet provider with virtual currencies) — for the possibility of opening a cryptocurrency wallet.

We expect to receive these licenses in mid-June 2019. Well, when everything is so quickly — and on top of that you get to enjoy the scenic views of the towers!

Even more cryptocurrencies!

As you know, our main goal is for the buyer-owner of crypto assets to be able to pay with them as money, and the seller at the end to get rubles, dollars, calganids, galleons and other traditional money. And we do it in the legal field all over the world thanks to the unique mechanics — and it is available to everyone who has a smartphone or cash register. Any trade and service company that wants to attract cryptocurrency owners as buyers or establish a loyalty program on the blockchain can connect to Joys. Today Joys already maintains its own cryptocurrency JOYS, as well as BTC and ETH. And right now, we are working on the integration of the following cryptocurrencies:

  • EOS;
  • LTC;
  • BCH;
  • and another stablecoin. Which one exactly — we will announce later, stay with us!

New Joys app

Intuitive, convenient and in our exquisite corporate colors. Brand new design, smooth animation and high performance. It sounds like an ad for a new sports car or a superjet — and we see the new Joys app as something like that. Discover all the possibilities… So, in fact: as stated before, the application can replenish the wallet, transfer funds and see the history of transactions. In addition, with its help, the user can pay not only with cryptocurrency and token, but also with Fiat! To use this option, all you need is to add your Bank accounts.   Also, we have added a brand-new section, you will find a list of stores that are already connected to Joys and ready to accept your money. If you have any suggestions or ideas — share them with us in groups in Telegram and and [email protected]

RACIB Premium Club loyalty program UNDER JOYS DEVELOPMENT

While our lawyers are working on obtaining licenses to launch a payment service, our marketing specialists and developers have found one more way for you to increase the quantity of your bank account. Joys continues its work on the creation of a loyalty program for RACIB (Russian Association of Crypto Industry and Blockchain). Why do you need that you ask? Well, RACIB Premium Club is a privilege program that allows to receive special offers, participate in promotions and receive discounts of up to 99% in the member companies of RACIB, as well as in other organizations. For each purchase, users of the RACIB Club mobile application will receive cashback to a special account, from which they will be able to pay for the subsequent purchases. Organizations participating in the project will be able to use various marketing mechanics and notify customers about new offers via push notifications in the mobile application. After the release of the Law on digital financial assets in the Russian Federation, the program will begin to use blockchain technology and a token for mutual settlements “RACIB Coin” will be released.


Until next time! Joys team

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