Building the Bank of Tomorrow
Mt Pelerin is a Swiss project to create the first bank to be fully built on blockchain in total compliance with regulations.
More than a crypto bank, Mt Pelerin will bring the legacy world of finance on the blockchain, and not the other way around.
It aims to obtain relevant Swiss banking licenses in late 2019, a preliminary process started in early 2018
with the help of two of the Big Four firms and some of Switzerland's best banking lawyers.
Mt Pelerin is defining a protocol to use blockchains for banking services,
and building a core banking system that tokenizes the entire bank's balance sheet.
Its ambition is to shape the future of the way we bank, by democratizing complex
financial products and services in a simple, transparent and cost-efficient way.
At the same time, it aims to seamlessly bridge the crypto economy with traditional finance.
Business Model
Our Mission
Protected by heavy regulations, the world of banking has always been a walled garden hermetic to disruption.
Now more than ever, a paradigm shift is called for and all the tools are now here to enable the banking industry to evolve.
At Mt Pelerin, we want to see this long-overdue evolution take place with a new business model, which tokenizes the entire bank
to offer banking services in a whole new way, while effectively bridging the new crypto world with traditional banking.
To achieve this, we have designed an approach based on three pillars:
1. 100% Deposit Reserve
Money deposited on Mt Pelerin’s current accounts will be kept in full in highly liquid reserve,
with the state of the total reserve being public and reported in real time on chain.
Unlike other banks, we will not reinvest our customers’ deposits in risky assets for our own profit.
2. Marketplace Approach
With deposits being kept safely in reserve, Mt Pelerin will offer banking services through marketplaces
with the necessary compliance and technological facilitation built-in for third party providers.
Integrated in an e-banking portal, the goal of these marketplaces will be to connect customers
and third party providers and let them freely offer and request services at the conditions they choose.
The marketplaces that Mt Pelerin wants to offer include:
▪ Currency spot exchange
▪ Futures and derivatives
▪ Loans
▪ Savings
▪ Products for small and medium businesses
▪ Tokenized funds
▪ Corporate finance
▪ Trade finance
3. Tokenization
Our ambition is to tokenize all assets (loans, for instance) and liabilities (deposits), i.e. issue them on Ethereum blockchain (at launch) as ERC20 compatible tokens,
creating an ecosystem where smart contracts can be applied to any financial instrument that has a market value.
With this approach, we want to bring an unprecedented level of liquidity
and convenience to the trade of banking and financial instruments, resulting in disruption of the status quo.
This would also create an effective bridge between crypto assets and classical finance.
Modular and Open Platform
On the technological side, we want to have an inclusive approach by building an open banking tech environment that will benefit all participants.
Our marketplaces will be built as an open platform providing core services, on top of which micro-services will be added as independent API based software bricks.
We will be able to connect the services of third parties to our bricks, and even add their own complementary bricks to our platform.
Compliance & Regulation
We will strive to become the first blockchain-based bank to be established and completely regulated in a country renowned for the stability
and excellence of its financial and legal environment, but also for its open-mindedness about blockchain and cryptocurrencies: Switzerland.
We are working towards obtaining relevant licenses (notably banking and security dealer licenses) from Switzerland’s financial regulator(FINMA),
and we are preparing the regulatory compliance of our services, structure and funding proposal.
For this critical regulatory part, we are working together with some of Switzerland’s best business lawyers and banking specialists.
With this upstream preparation, we want our investors to have as much confidence as possible that the funds invested in our project will go towards
its implementation and not into the resolution of regulatory conflicts that would come from insufficient planning.
Project Funding
Purpose
Establishing a bank in Switzerland is an expensive endeavour, and the authority delivering banking licenses has many strict requirements.
Its financial requirements include a minimum bank share capital, sufficient funding to cover three years of operational costs, and of course funds to cover legal & audit costs.
We therefore come to you to raise funds for this historical project, to involve you in the creation of the institution that many of you have been calling for.
Seed Round
To raise the initial funding necessary to develop Mt Pelerin, we invite you to become
a shareholder of Mt Pelerin Group SA, which will hold the bank of the future.
To make this possible, Mt Pelerin Group SA is the first company in the world to tokenize its shares on the blockchain
and to sell tokens that are recognized as shares and provide legal protection conferred by Swiss law.
Indeed, they include full voting and dividend rights once the token holder is registered.
This is why we have named our token MPS for Mt Pelerin Shares.
Moreover, the investment of the first believers in our project means a lot to us, which is why our equity
structure is designed to protect you from any dilution in case of a second round of funding.
Sale Details
Sale Dates
Start: October 30th 2018 - 12h00 (noon) CET
End: December 15th 2018 - 12h00 (noon) CET
Registration
Main Funding Round
To be announced.
Roadmap
Wallet
For the needs of our project, we are also developing an open-source, fully decentralized wallet that can
store and manage cryptocurrencies, ERC-20 compatible tokens and smart contracts.
Our wallet will also support SBTC and ERC20 on the Rootstock (RSK) blockchain.
Separate wallet announcement thread coming soon.
Team & Advisors
Team
Advisors
Kuno Kennel - Chairman of the Board of Directors of the Schwyzer Kantonalbank Dr. Jürg Conzett - Founder & Head of the Zürich MoneyMuseum, Founder of the Sunflower Foundation Dr. Michael Stumm - Professor at University of Toronto, Co-Founder & Former President of Oanda Alexandre Kozma - Vice-President Senior Bonds Portofolio Manager at Banque Pictet & Cie
