The past week brought several important developments for Matrix Banking.
- Onboarding of the first team members continued, during which we introduced our vision, business plans, and overall direction.
- The goal is to ensure everyone has a clear understanding of what we’re building and why.
- Our designer conducted thorough research, including market analysis and a UI/UX review, which laid the foundation for starting the design process for the website, desktop platform, and app.
- The first visual directions and technical preparations are already underway – small steps, but confidently moving in the right direction.
- Q&A sessions continued, with the latest round held on May 15, 2025.
- It included top-level developers with experience specifically in the fintech sector.
- Their feedback confirmed that our chosen technologies and development direction are secure and well-suited for building Matrix Banking.
- We also refined and expanded our existing ideas and solutions.
- On the technical side, the current focus is on in-depth analysis, risk prevention, and regulatory compliance.
- We’re not just building a platform — we’re creating a robust and carefully designed system, where every step is well thought out.
- In the fintech world, logic alone isn’t enough — the system must be resilient, regulation-compliant, and protected against potential misuse.
- Regarding the EMI license, there are no major updates at the moment — we’re waiting for the next step from the regulator.
- Next week, we have a meeting with our development partner in Vilnius, where we’ll discuss the next technical steps.
- We also continued preparing documentation for the VASP license application.
- Compared to the process before the MiCA regulation came into effect, this is now significantly more complex and demanding.
- At the same time, it creates a cleaner and more secure crypto environment – the high costs, complexity, and deposit requirements help filter out malicious or unserious projects.
Abbreviations and Additional Information
MiCA
Markets in Crypto-Assets Regulation
(EU regulation on crypto-asset markets)
MiCA is a European Union regulation aimed at creating a unified framework for regulating crypto-assets across all member states. Its purpose is to enhance consumer protection, transparency, and security.
VASP
Virtual Asset Service Provider
A VASP refers to companies that provide services related to virtual assets — such as cryptocurrency exchanges, wallet services, or platforms for buying and selling crypto-assets.
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