QashCoin
(QASH)

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Reviewed: 13-1-18
Qash is a token that is designed to be used for all services by the Liquid platform and Quoine’s exchange platform. Quoine mentioned that currently none of the existing blockchains offer tools to build any meaningful or scalable financial services on top of their blockchains, other than services such as payments and transfers. By Q2 2019, Quoine will create its own blockchain (Qash Blockchain) that will have specific financial industry requirements built in. The Qash Blockchain will have the following features: KYC/AML, Node Management and Financial service features. (1)
The financial service features contain lending management, Market Data Distribution, Margin management, Matching Engine, Market Making Engine, Issuance of new Crypto tokens and banking.
Qash is the fuel that will power all services Quoine provides. Qash owners will receive periodic promotions, discounted fees, preferential access to new services and opportunities to invest in future ICO Sales that Quoine will help launch.
Qash has two main functions; it can be used as a way to pay for services on Liquid Platform and Quoine and as a tradable token on the open market. Quoine will not limit the usage of Qash nor business entities that would like to use Qash for their business. They are in discussion with multiple financial institutions, FinTech startups and partners to make Qash the preferred payment token for upcoming and existing financial services. (2)

 

Important links

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Over the years, QUOINE has built a technology for connectivity to the majority of global Crypto exchanges. This includes Smart Order Routing and Order Management technology to manage orders for each exchange in their network, in addition to a powerful real time market data infrastructure covering all relevant global Crypto exchanges.

When an order is placed on the World Book, and no match is available internally, the Smart Order Routing Technology checks to see if there is a match available on another exchange. If so, it automatically routes the order in the currency of the order on the other exchange. The end goal is that Quoine will be building a solid, global financial utility, where anyone can participate as users and Token holders.

The challenge is that there is usually zero (or very limited) liquidity due to their being new issues. This poses a problem for new Crypto Token holders and issuers alike. Token issuers will be able to leverage all of Liquid Platform’s technologies and services to create a market for their Token in Qryptos. Their Liquid Platform will be capable of fully supporting the new emerging Crypto Token economy, and help eliminate the current liquidity challenges it is facing. Token Issuers will be able to auto-setup an initial/secondary offering and marketmaking, or as part of a managed service. Liquid Platform’s World Book and Market Data Services, coupled with specialized market-making strategies, will allow marketmaking for new Crypto Tokens, and in turn, the creation of liquidity and fair pricing for new Crypto Tokens.

Liquid platform
The Liquid Platform is a single globally-sourced trading platform (world book) with an associated suite of services (prime brokerage) which will enable a high level of liquidity. It will be managed and operated by Quoine Pte. Ltd. Established under the laws of Singapore.

The world book offers a multi-market order book that aggregates the {order/prices} on world’s various liquidity sources into a single highly liquid tradable order book, allowing orders to be placed in the currency of one’s choice. They claim that the order book solves two important problems that limit liquidity in the crypto sphere, Liquidity Silos (some exchanges provide for example BTC/USD and other BTC/EUR) and Underserved Markets.
The World Book supports trading in the quote currency of one’s choice. For example, a German trader (A) wishing to sell BTC (Base Currency) can choose to see the World Book for BTC in EUR (their Quote Currency). When they place an order in the World Book, they see their order enter the BTC/EUR market, and the order’s price is reflected in their orderbook in EUR. While, a Singapore trader, using the World book, will see the entire order book in their own currency of choice, likely SGD.
There are a few benefits on using the Liquid platform. First they mention the reduction of counterparty risk. Users of the Liquid platform will only ever need to deal with Quoine as their counterparty, which is regulated in Japan. The other benefit is being able to deal on other exchanges without moving the funds directly. And last, users will have the ability to net positions taken across different trading venues. This will allow market participants to better take advantage of inefficiencies in the sometimes fractured crypto markets.

Company, Team & Investors (2)
Quoine is a global fintech company that provides trading, exchange, and financial services powered by blockchain technology. The team of Quoine, which exists of more than 60 employees, has built Quoinex, a Japanese Cryptocurrency exchange, launched Q2 2014 and regulated by the Japanese Financial Services Agency (JFSA). Qryptos is a second platform launched in Q2 2017, it allows users to exchange between altcoins. Liquid is the next step that will impact other exchanges, FX brokers, institutional, individual investors, banks and regulators.

Their management team has worked at the following companies:
– financial institutions: Goldman Sachs, Bank of America Merrill Lynch, Credit Suisse, Citigroup, Barclays, UBS, ANZ, Union Bank, Rabobank, Wells Fargo Bank, Bloomberg, PWC, Simplex, Scotty D. Group, Capital Markets Trading.
– Internet and Technology: SoftBank Group Corp., Samsung, SingTel, BSB, Hike, Gungho Online Entertainment, Grab, Luxola, Protiviti, SAP.
– Others: Mitsubishi Corporation, Anderson Consulting, AirAsia, Sephora.

Some additional information about the CEO and CTO:
CEO: Mike Kayamori, Senior Vice President at SoftBank Group (Asian Internet-related company a as well as a Japanese telecommunications company), Chief investment Officer of Gungho Asia (Multiplatform publisher delivering content and support for the online gaming community). (3)
CTO: Mario Gomez Lozada,** Chief Information Officer and Head of Fixed Income IT Asia at Credit Suisse (Global financial services company providing Private Banking & Wealth Management services ). 11 years CTO of Merrill Lynch, Japan (wealth management business). (4)

Some of the main investors and their possible influence explained: (1)
Masaaki Tanaka: Influences within JFSA and holding positions within PWC, Mitsubishi UFJ Financial Group as well as Morgan Stanley.
Koh Boon Hwee: Influence in the South East Asia Region, holding Chairman roles in SingTel, Singapore Airlines, DBS and Board Director in Temasek Holdings.
David Katz: Influence US, previous roles in Paypal, Visa and the Office of Potus.

Partnerships (5)
– Exchanges to build global liquidity in the crypto economy through Quoine Liquid: Bitfinex, Binance, CEX, EXX, INDOMOG, STOX, ANX PRO, Huobi
– Quantstamp, Proof-of-Care alliance for smart contract security-auditing.

Roadmap
2018 Q1: Launched Quoine Liquid Direct Market Access Beta. 2018 Q2: Official Quoine Liquid Launch. 2018 Q3: Direct Market Access. 2018 Q4: Prime Brokerage Offering. 2019 Q1: Expand service to Asset Management and Investment Banking. 2019 Q2: Launch Qash Blockchain. 2019 Q3: Full Banking License

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