Topic: Passfolio - new US stock trading app supports crypto deposit (Read 272 times)

No Mobius was definitely not intended to be used in Passfolio - that would be impossible. Mobius was a product released long before Passfolio was even imagined.

dgobaud a few more questions for the AMA - if mobius is not used in the app .... will the token likely still be utilised in any way with the data from the app? Or simply will there never be any synergy between Passfolioapp and the mobius network?
The mobius community were logically expecting Passfolioapp would be making use of the patents held by the parent company particularly as Passfolioapp in linked in talks about utilising blockchain technology in the same fashion the mobius whitepaper did...

Are the team doing anything to further the use case or adoption of mobius token/network?

No Mobius was definitely not intended to be used in Passfolio - that would be impossible. Mobius was a product released long before Passfolio was even imagined.

Was mobius token intended to be utilised by Passfolioapp?
Not just traded within the app ...
Was mobius going to have some utility associated with Passfolioapp?
Because that was where the funding came from for the app and the mobius token holders are awaiting news of a connection or utility within the app - as you well know..

Dgobaud: yes or no answer please: will the mobius token be utilised by Passfolioapp in anyway to help realise the mobius networks whitepaper objectives? Or enable to realisation of panchain patents ?

Dgobaud: your team also were working on Mobius. There were a number of exciting patents - is the plan to utilise these patents  in the future when the tokenised securities are realised?

Hi OO,

1. Passfolio's mission is to democratize the US stock market and make it available to anyone in the world. A big problem is how to fund a US brokerage account. Typically internationally this can be done using an international SWIFT wire but those can be very expensive often $40+. Crypto solves this problem. You can deposit crypto, then sell it to get USD, and use it to invest in US stocks all in Passfolio. We're the first US company to put this all together.

2. Yes you can deposit bitcoin, sell it, and then withdraw USD. We're working on crypto withdrawal but that is going to take more time.

3. As a US broker dealer and Money Services Business we have a very robust KYC and AML program - you can signup to see it.

4. Long term we do want to tokenize stocks and yes the idea is to put them on Stellar but this is a very big, time intensive, and expensive project. Massive regulatory issues cannot be done quickly but yes ultimately we want to do this.

5. Not sure what chain clients means.



6. We support all cryptos available on Gemini as they power our crypto trading and custody.


thats not an answer to what was asked but nice dodging as usual



7. We were planning to do some press this past week unfortunately COVID-19 became much more serious - crazy times right now. I'm in SF where we're now under mandatory shelter-in-place law. So yes we want to get the word out because Passfolio democratizes the US market and gives people more financial access but right now there is a much bigger issue the world is dealing with.

I think it's awesome you're partnered with Gemini and DriveWealth. Do you have a full list of fees you can link us to?

Are there some regulatory issues at the moment with tokenising securities ? Is it a case that the tech is ready but the regulatory framework is not clear?

Yes we've built the system to scale - outages can of course happen but we are definitely engineering for scalability! PS if you signup as a new user and use promo code ROBINHOOD in the app you get $5 of a surprise stock