Here is a brief summary of the AMA on Reddit where the questions were posted and the answers were given by Alexi Lane, CEO and Founder of Everex in a video format. The AMA will be a recurring feature with other team members as well. We will be moving into our own offices soon where the interior design is in full flow!

Everex New Office

Here is the video link for the full AMA.

On to the questions:



What is Everex?

Everex is a blockchain payments solutions provider aimed at bridging the gap between cryptocurrencies and the fiat world as the communication between the two industries is limited. With regards to this, we are building an intermediary service called e-fiat which is the hybrid form of national currency which will have a value of the fiat currency in the form of a cryptocurrency. This enables the national currency to be on the blockchain where payments, currency exchange, payments and cross-border transfers are possible. This will also help in financial inclusion for individuals and SME’s across the world.



What are the goals of the Holley Group pilot? If successful, is there a plan to market the results of this pilot to new potential partners?

Holley is a Multinational Company which is one of the Top 100 companies in China with many subsidiaries across the world. The pilot with Holley group allows Everex to test the payments for Holley Group and also introduces us to markets which they operate in. The first stage of the pilot will include payments between China and Thailand and it will extend into other markets as well. We also had a lot of successful meetings with Chinese businessmen across Cambodia, Laos and Myanmar to facilitate payments.



How are the regulatory navigation efforts coming along and is there a timeline for this?

We are in the process of it and the pilots will help us in this as it can be a proof of how the payments system work as this can be demonstrated to regulators and banks the various regulations of KYC’s and AML’s that Everex is taking as a measure. There are a lot of regulators positive and we are collecting data from small projects as well to provide data to the regulators regarding this. Since Everex is global focussed, we are not only looking at SE Asia but also the Middle East and other parts of the world and this leads us to talking to a lot of regulators who are very open to the idea.



Tell us more about Thai Fintech association that Everex is a part of:

It is super beneficial to be a part of the association as we have gained a lot of contacts there to banks and other financial institutions. Since the chairman of the group was a Former Finance Minister of Thailand, it is a very important collaboration for Everex in terms of business.

Alexi Lane, CEO and Founder of Everex in a video format of AMA

What are the terms of the partnership with the African payments company and was there a specific reason to partner with them?

Connect Africa is the third largest payments processor in Africa with offices in 13 countries in Africa and representations in the US as well. Our main interest with Connect Africa is to connect the Chinese and the African markets where we will test Everex’s products with them.



When exactly can we use the lending feature of Everex?

The lending feature of Everex will be the next step because the first step into this is to provide sufficient liquidity of e-fiat in as many currencies as possible. So, once that system is in place and when the remittance and payment businesses are in full flow, it will be sufficient money mass to start the lending services.



Is Everex going to be listed on exchanges like Bittrex, Bitfinex any time soon?

Getting EVX listed on exchanges is not our main goal now as we are busy building the business. EVX is listed in the 3 out of the top 5 exchanges right now. So, the goal of the company is to build pipelines for the business where all the efforts are directed towards that.



With the whole market down, what is the plan of Everex team to support the price and making the token aware to more buyers?

We are doing everything in our power to build the business pipelines and once that is in place, the awareness of the token will be automatic.



In recent news, some banks in Thailand have stopped transaction fees for online / ATM withdrawals. Does this affect Everex?

I am not fully aware of this news but from my knowledge, it should be the smaller banks which are doing this to compete with the bigger banks. But, this is a good use case for Everex where tourists face a lot of hurdles in terms of FX conversion and withdrawal fees as we can not only save the fees on it but also increase the usability factor of it. We can also provide tracking and transparency of the currency in largely cash based economies where the credit scoring of cash only merchants can be provided using the Everex e-wallet or our white label wallet solutions.



Is there any effect to Everex because of a disruption occurring to financial system of banks like shutting-down of the branches of a bank or any other banking changes in recent times?

This is a good sign for challenger companies like Everex as it means that banks are cutting down costs and are thinking out of the box where they will be open to new technologies like blockchain. So, any company working in the FinTech space has a chance to work with these banks to cut costs and increase efficiency.



Will EVX be delisted by Binance?

I do not know where this is coming from. We have a great relationship with Binance and will continue to do so.



What is the relationship between Everex and Huobi? With Huobi opening up in Korea, what does it mean for Everex?

Huobi is a great company and they are expanding very quickly as well. I have been invited for a podcast in Singapore which I will do the next time I am in Singapore. Korea is on our map as there is a huge transaction flow from South Korea to Thailand. We are looking at South Korea quite closely to open up our business there as well.



Can you tell us anything about the discussions with Central Banks? What solutions are you proposing to provide and what is the status of those proposals?

There are 5 banks that have approached us to explore the blockchain technology for their national currencies. We have been in talks with small economies with no national payments systems and it takes a lot of time and effort to do inter-bank transfers. Everex is forming focus groups and working a way out to bring these small economies on the world economic map. I am very positive and within this year, we will see a lot of advancements in central banks and technologies.



What are the takeaways from the Accelerator Frankfurt going to be for Everex? What do you want to gain from the program?

Networking is our main focus. Frankfurt is one of the most important financial centres in Europe today and we have been introduced to a lot of financial institutions and banks in Europe and Accelerator Frankfurt will help us open doors in Europe to operate in EU and beyond.