We held a live AMA with Weld Money co-founder, Iryna Lorens on 19th September 10:00 PM (UTC+8). Here’s the recap for those who missed it.
Introduction
Serene: Before AMA start, can you introduce yourselves and the team background?
Iryna Lorens: Hello everyone! I’m Iryna Lorens, WELD’s Co-founder. I have with more than 6 years in crypto trading, and now am willing to bring my experience into the WELD project in order to make it the next #tothemoon gem.
When you aim to build a bridge between crypto and traditional finance, you need your team to be qualified, not only about blockchain but also about well-known banking. And we are lucky to have both crypto and traditional sides strong 🚀
Alexey Bobok is our co-founder and COO. He is a ProfitLift founder, who has more than 8 years of experience in delivering qualitative alternative payment methods to the end users. Back to back with him works our co-founder and CEO, Alexey Meretskiy. He is an experienced entrepreneur and business owner with 13+ years of commercial experience in insurance, leasing, and loans. Together with them works Artem Fesko, our product manager with more than 13 years of experience in the largest bank in Ukraine PrivatBank, and Mikhail Strizhko, weld’s Chief Financial Officer with over 20 years of experience in CFO, CEO positions in financial and investment companies🚨
We also have an amazing creative director Oleksiy Klymenko, a strong professional IT team, and well-known advisor Marcello Mari, CEO at SingularityDAO🌟
Serene: Any latest/ update news about Weld Money you would like to share with our community?😀
Iryna Lorens: 1. Our community is ~23500 people now
2. Raised $ 250k on pre-sale
3. Signed a strategic partnership with Alty.co — with one of the leaders in the creation of fintech / neobanking products
4. Registered the company Weld Europe in Estonia
5. Participated in two AMA sessions: @incrypt0 and @incrypted
6. Agreed to integrate with Crystal Bitfury
7. One of the largest KOLs Carl invested in us (500k subscribers on youtube) https://youtube.com/c/TheMoonCarl
8. The opportunity to use staking started this week and will last until September 22, 10:00 UTC
(more info https://t.me/weld_chat/13978)
9. TGE . WELD token will be generated on September 22 (more info https://t.me/weld_chat/13990)
Also, we are glad to announce that on September 22 WELD Pool opens on the ZENDID platform. You can already join the IDO whitelist to participate in the next investment round of Weld on September 22 at 12 pm UTC
AMA Twitter Section Begins:
Q1. Traders using crypto care about fast and secure money transfer. How fast are transactions in Weld Money? Could there be a security problem?
Iryna Lorens: The core backend system of weld infrastructure integrates and controls information flows between all members and partners like Bank Processing Center, CEX, Payment systems 🔥
We have high requirements from Visa and Banks to provide all information exchange no more than in 4 seconds
But we as an Online Processing Core have an internal goal in 1 second✨
Our processing Partner is PCI DSS compliant International Payment System PayRun who affords all necessary Licenses for money transfer and clearing between financial partners 🚀
Q2. As an investor, I know that many of us are afraid of using these types of services given the obstacles presented with regulations, taxation and financial accounting. So how can Weld dispel these fears about these kinds of tools that could prove to be very useful?
Iryna Lorens: So, let me tell you how it works. You’ll understand why Weld is going to be useful for you
The client initiates a Payment — weld blocks crypto balance from a clients wallet — weld allows a bank to process the transaction — Bank processes the transaction from overdraft balance — Client takes the purchase — weld repays the overdraft to bank
Also, take a look at our partnerships. We’re going to cooperate with local fiat banks and merchants to provide our users with the ability to pay their daily spends anywhere with zero problems
Q3. Many crypto projects that issue crypto cards often face problems such as; the issuer’s refusal to further issue the card, blocking this card, inability to use this card at some ATMs. How will WELD solve all these problems?
Iryna Lorens: It’s important to understand that our card is not cryptographic, it will be fiat. We have an agreement with the bank which will serve us in the payment system.
We will connect banks of other countries, we will also connect third-party or smth like to card services
Q4. how does MoneyWeld respond to competitors who share the same goal or mission? does MoneyWeld have its own characteristics to attract users?
Iryna Lorens: Hm, to begin, all cryptowallet holders in CIS countries are united by one unsolved problem — they do not have an easy way to use cryptocurrency to pay quickly for conventional goods or services💸
Considering this, our main feature is ability to solve this CIS problem!
Besides, we have some more advantages of Weld application:
Seamless integration with ApplePay/GooglePay
Tax-free crypto transactions on the go (no vat and other taxes on convertion)
Transparent pricing, no hidden fees. You pay for what you use.
360 view on personal finance — one application to manage everything (fiat cards / accounts and cryptocurrency wallets).
Secure and transparent financial flow
Convenience — the ability to add any wallet from a third-party service or crypto exchange
Traditional payment method — payment by Visa\MC (GooglePay / ApplePay).
Security — Fully PCI DSS compliant solution
Q5. So, do you have any plan for burning tokens in the future to reduce the supply of the token and increase its investment attractiveness?
Iryna Lorens: There will be no burning , but there will be a Buyback.
Buyback will be limited per time period, this period is 2 year from listing date on first DEX. After 730 days after listing, the buyback program will finish, and the market will become self regulated by users and investors.
Telegram Live AMA Begins:
Q6. in which Region first launched your cryptographic card ? why did you choose this region? What aspects did you consider for this?
Iryna Lorens: We started from CIS sector only because it’s impossible to use any world current crypto cards here. So we decided to solve this problem.
Q7. Are you a global project or a local project? Can anyone use your project without any restrictions?
Iryna Lorens: global 100%
Q8. I want to have WELD card. Can I use the card just like a credit card? Will I have to pay a fee to have a Plastic/Virtual card? Is there a monthly card fee?
Iryna Lorens: yes just like credit card
Q9. I noticed that WeldMoney has many similar social media accounts … Can you share with us and all the people here all the official social media links/pages of your project..for the protection of users against scams project
Iryna Lorens:
https://weld.money/
https://weld.money/ru/
https://t.me/weldmoney
Q10. Do you have a seamless Payment solution for daily contests with minimal commission?
Iryna Lorens: this is what our project is about
Q11. When WELD tokens will be generated (TGE)? Is it before IDO? And who can participate in the IDO? Can anyone participate or is there any restrictions?
Iryna Lorens: TGE
WELD token will be generated on September 22
🔸At the TGE time, the private & seed rounds participants won’t be able to sell their tokens, since they have 0% token unlocked.
🔸Pre-sale round participants will be able to exchange their 10% pWELD tokens for WELD tokens.
♦️If you missed to buy the WELD token on pre-sale or IDO, just wait for the listing at ~14: 00 UTC. This is the last chance to buy a WELD token for the IDO price.
🔸It’s opportunity for IDO participants to claim their tokens. The liquidity pool on UNISWAP and PancakeSwap will be filled immediately after IDO will be finished.
🔸WELD token contract and liquidity pool contract addresses will be announced later.
Q12. One of your featured products is the WELD mobile app. In order to use WELD App and Services, will users need to go through the registration process like KYC or something? Then what crypto wallet is compatible with the WELD app?
Iryna Lorens: You can already use Weld with OKEX, BINANCE, COINBASE, HUOBI, FTX
Q13. I found On WhitePaper That Weld has a Native Token called $WELD , Can you tell us the Main Utilities of this Token and What benifits user will get with $WELD Token ?
Iryna Lorens:
Main utility
• pay commission in WELD Tokens to reduce transaction costs
• stake WELD Tokens for increase daily and monthly limits
• stake WELD Tokens to get WELD Reward
• stake WELD Tokens to get Premium Card
• cashback on every purchase paid on WELD Tokens
Q14. I have applied for the Weld Card through your Webisite,
What’s the approx day that I can receive any information by the team regarding the Weld Card?
Iryna Lorens: We do not have an exact day when card will be launched, but if you’ll follow our TG channel you won’t miss any important news. For now we are getting ready for our IDOs
Q15. will WeldMoney’s platform work like Samsung pay or Apple pay so users can use crypto to physically pay in stores in the future ??
Iryna Lorens: Yes, you’ll be able to use Weld card with apple or google pay
Q16. where can i get WELD tokens, can i use a plastic card if i don’t have one? when will staking be available?
Iryna Lorens: Apply to our IDO’ whitelist and dont miss your opportunity on 22nd os September. Only a few days left
Q17. In some countries it is illegal to use cryptocurrencies. Can we use WeldMoney in every country? Also, is KYC required to use your services?
Iryna Lorens: JURISDICTION RESTRICTIONS for Token Sale
Participation in the Token sale shall be prohibited for users of the who:
● are U.S. citizens or residents, or a legal entity in which the U.S. citizen’s and / or U.S. resident’s participation interest is 10 % or
more;
● are defined by the Office of Foreign Assets Control as a “Special Category Person” or otherwise included in Sanctions Lists in any
jurisdiction;
● are on the Prohibited List of the U.S. Department of Commerce;
● are nationals, residents or tax residents of any FATF blacklisted country;
● are citizens, residents and/or tax residents of one of the following jurisdictions: Afghanistan, Albania, Algeria, Australia, Bahamas,
Bangladesh, Bolivia, Bosnia and Herzegovina, Botswana, Burundi, Cambodia, Canada, Central African Republic, Cote d’Ivoire, Cuba,
Democratic Republic of the Congo, Ecuador, Ethiopia, Ghana, Guinea, Guinea-Bissau, India, Indonesia, Iceland, Iran, Iraq, Hong
Kong, Japan, Kosovo, Kyrgyzstan, Laos, Lebanon, Liberia, Libya, People’s Republic of China, Malawi, Malaysia, Mali, Morocco,
Mozambique, Myanmar (Burma), Namibia, Nepal, New Zealand, North Korea, Pakistan, Republic of Macedonia (FYROM), Serbia,
Somalia, South Sudan, South Korea, Sri Lanka, Sudan, Syria, Tanzania, Thailand, Timor-Leste (East Timor), Trinidad and Tobago,
Tunisia, Turkmenistan, Uganda, United Kingdom, Uzbekistan, Vanuatu, Venezuela, Vietnam, Yemen, Zimbabwe, or the United States
of America (including all of its territories);
● are citizens, residents, and/or tax residents of one of the countries or territories where cryptocurrencies are prohibited or have
no legal status, or where users cannot be admitted to the token purchase due to various tax and/or regulatory aspects;
● are on trade or economic sanctions lists, such as the UN Security Council Consolidated List, or if participation in any bidding is
restricted or prohibited by the European Union, the Hong Kong Monetary Authority, the Hong Kong Customs and Excise
Department, the Office of Foreign Assets Control, or any other administrative law enforcement agency.
Participation in the Token sale will also be prohibited for users who:
● are citizens or residents of any state, country, territory or other jurisdiction (i) subject to extensive, geographically targeted
sanctions by the United Nations, the Monetary Authority of Singapore or OFAC, or which are defined as “call to action” jurisdictions
in the list of high-risk jurisdictions and other monitored jurisdictions of the Financial Action Task Force, and/or (ii) subject to U.S.
embargoes;
● reside in or are citizens or tax residents of any state, country, territory or other jurisdiction where participation in token sales
would be illegal or otherwise in violation of any applicable law.
But our card is going to be fiat. Fiat card that can pay from your crypto wallet
Q18. Weld has partnerd with Hacken Foundations, As Hacken is & auditing & Security Company, How it is going to help Weld project?
Iryna Lorens: Hacken is Community of crypto and cybersecurity enthusiasts. Together we will work on the promotion of mass adoption of crypto, including HAI!
Q19. I understand that the mobile crypto bank Weld, provides an opportunity for users to issue plastic cards, which will be available at various levels, including premium. However, is this feature accessible in all countries or only certain countries?
Iryna Lorens: we’ll try to make our card worldwide. we’re going to cooperate with local fiat banks to provide each region with opportunity to pay with weld
Q20. A lot of scam projects lately. Pulling the rug creates a loss for investors. why should we trust your project ? Aren’t you going to do the same ?
Iryna Lorens: take a look who has already invested in our project
One of the largest KOLs Carl invested in us (500k subscribers on youtube) https://youtube.com/c/TheMoonCarl
Avalon Wealth Club has also invested in Weld.
https://t.me/weld_chat/8728
7 O’Clock Capital has invested in Weld.
https://t.me/weld_chat/3272
Magnus Capital invest in WELD and join as Advisor
Q21. Are the practical payment solutions offered by the Weld project only for a specific market or do you aim to become a global project over time. Do you plan to build local communities and identify global representatives so WELD can reach more people and businesses?
Iryna Lorens: for now, we want to expand our community and become multilingual
-End-
