15 May, AtoZ Markets – Numerous of Blockchain projects emerge on a daily basis. Some are more successful than others, and in today’s interview with Denis Kulagin, CEO of Serenity Financial, we discuss the recent Serenity exchange launch and the milestones of past year. Serenity Financial is the first blockchain escrow organization within the Financial and crypto markets.
Also, with the recent bull run of crypto market, what can traders expect from the SRNT token of Serenity? Recently, Serenity Financial listed SRNT token. Yet, what else can the crypto community expect for 2019?
What is Serenity Financial about?
For the ones, who are not familiar yet with Serenity Financial, this project aims to create more transparency in the existing Forex trading market, through implementing blockchain technology in its escrow services and other solutions.
The solutions of Serenity Financial benefits the trader by protecting their funds based on smart contracts, against any market manipulation. Since it is an escrow model, a trader can always verify or appeal the execution quality of the chosen broker.
Exclusive Interview with CEO of Serenity Financial
Serenity Financial successfully achieved launched its first version in 2018 and also integrated already a Forex broker into its system. Following these and other success milestones in 2018, what can the crypto community expect next in 2019? To gain more insights on this blockchain project, AtoZ Markets’ team has reached out to the CEO of Serenity Financial and came up with the following conversation:
AtoZ Markets: "Denis, congratulations on the milestones achieved in 2018. What can the community expect in 2019?"
Denis Kulagin: "Thanks for the congratulations. As you have heard our token (SRNT) is now listed on the trading platform B2BX. This means that the token became available for trading pairs with Bitcoin and Ethereum: SRNT/BTC SRNT/ETH. B2BX is a rapidly growing cryptocurrency exchange licensed by the Estonian regulator. It provides its clients with high level of security, fast withdrawal and margin trading. And that’s great news for all participants of the Serenity project.
But of course we’re still working hard on other vital directions like new Brokerage integration to our ESCROW, increasing the amount of partnership project from the FinTech industry. Also, we were glad to announce that the Serenity Exchange is launched and ready for trading. The community deserves updates so we will pay maximum forces in 2019 to keep our promises.
"Serenity Exchange is launched and ready for trading"
AtoZ Markets: "That's interesting, can you tell us more about the Serenity Exchange, now that it is live?"
Denis Kulagin: "Yes, absolutely. Well for the first time trading SRNT/ETH, SRNT/BTC, SRNT/USDT will be available and we will add more pairs later! We have already prepared a technical base for DASH, DOGE, LTC, NEO and tokens on this blockchain and, of course, ERC-20 tokens based on ETH.
To register on the exchange, members can go to https://serenity.exchange/, create a login and specify the correct email address. We can tell frankly that at the moment not all the options of Personal Account can be connected, for example, the function of paying commissions in the SRNT is not available by default yet but it will be connected later, no doubts.
We are taking this opportunity, to invite all new projects for listing. We will cover the first 10 projects for free. In order to get listed on the Serenity Exchange, it is enough to meet the following criteria: a community of real people — at least 3000 people, real token-holders no less than 2000 people."
AtoZ Markets: "We have already explained the benefits of Serenity Escrow, but what makes Serenity Exchange better than other crypto exchanges?"
Denis Kulagin: "First of all, the Serenity Exchange was developed as part of the framework of the Serenity project, for clients who want to come to Escrow with fiat money or other equivalent cryptocurrencies, and exchange them for the USDT or Ethereum. Both these tools (USDT and Ethereum) work on smart contracts in Escrow. Serenity Exchange is connecting clients to the liquidity of large markets, so we are not looking for fake market makers who will create artificial volumes for our customers.
The more demanding customers will want to buy Bitcoin at some point. When a second buyer is not on the stock exchange at the moment, then the investor will not be able to buy it, but on the Serenity Exchange the investor will still be able to make a deal. Therefore, it is unnecessary for us to look for a counterparty for the deal on our exchange, and we could send the transaction to a third-party exchange. Thereby improving the quality of service to our customers. That’s a great advantage, because there are only a few exchanges, which could provide this kind of connection."
Serenity Financial's escrow under the loop
AtoZ Markets: "Thus, your services are still in beta. Can you share how many successful mediations between trader and broker, you have successfully resolved? Also, were all cases resolved successfully by Serenity?"
Denis Kulagin: "At the moment we are working with only one broker and are preparing the integration with the next brokers. Therefore, we cannot yet share the real solution of cases. It is worth mentioning that Serenity Escrow is a unique and innovative product, with no other firm providing the same solutions on the market. Therefore, Serenity Financial has received high estimations from acknowledged leaders and industry experts.
Serenity aims to restore the trust in brokers and protect all market participants by means of blockchain technology. The project has already received positive feedback from numerous industry experts. Among them CEO of AMTS Solutions and the owner of RammForex broker Dmitry Rannev, Chairman of the Board of the Financial Commission Peter Tatarnikov, founder, visionary and developer of PAMM/RAMM investment services Dmitry Orlov."
AtoZ Markets: In your ecosystem traders will be able to select the brokers to trade with. We saw that the first broker you signed an agreement with is Grand Capital, tell us why you chose to work first with this broker?
Denis Kulagin: "UpTrader is our reliable FinTech software provider, which has cutting-edge customer solutions for brokerage business. Grand Capital is a strategic partner of UpTrader. That is why, we offered Grand Capital, the first pilot testing of the technology. What is more, we are on the same page with Grand Capital, when it comes to brand philosophy – to be smart, transparent and innovative.
At the moment, we are negotiating with several other brokerages and the goal is to arrange a community, which will do trading with recording and controlling trade transaction, minimize their risks and increase profits."
Serenity Financial looks for collaborations with Forex brokers
AtoZ Markets: "How can other Forex brokers collaborate with Serenity Financial? Are there any criteria?"
Denis Kulagin: "In the frameworks of launching the project, we understand that the system could be designed for small, offshore brokers or startups. So the main criteria are brokers that are licensed with a financial regulator and have a decent client base. A partnership with Serenity can benefit a brokerage’s reputation significantly; reveal its transparency and the ambition to work with the latest technologies. Also, we are focused on major brokers who are ready to integrate and implement innovative technologies. Yet, most importantly, brokers that wants to attract crypto traders, as this is a big market for opportunities and new customers.
In dealing with large brokers, we are faced with the problem that often the brokerages are already controlled by large regulators such as FCA (UK), BaFin (Germany), CySEC (Cyprus), ASIC (Australia). In turn, regulators prohibit brokers to operate on the crypto market, have crypto wallets, and allow only fiat money to be used. Within the frame of negotiations with partners, we have repeatedly faced this problem at the level of legal and compliance departments.
Thus, now we are actively developing an alternative solution - to act on the broker’s side as a paying agent. Our team is working on opening bank accounts; right now we are in the midst of negotiation with more than 8 banks. After that we will be able to receive crypto from the client and convert it into dollars. In order to remove the exchange rate risk for the broker, we plan to use a stable cryptocurrency Tether (USDT), which is pegged to the dollar, the world reserve currency, that is, 1 USDT is always equal to 1 US dollar."