Greetings everyone,. As many of you have been asking for updates, I wanted to take a moment to share some thoughts with you.

22 Mar 2023, 19:46

Greetings everyone, As many of you have been asking for updates, I wanted to take a moment to share some thoughts with you. Last December, we announced our intention to focus on offramps and form partnerships with traditional financial institutions. This shift goes beyond just the roadmap and involves setting up partnerships with traditional financial institutions, namely banks and custody providers. We've experienced first-hand the increased regulatory scrutiny that crypto businesses are facing in recent months. For instance, some of our accounts with financial institutions were closed without explanation within two weeks of opening, while others are currently going through lengthy compliance and due diligence processes. With so much unpredictability and instability in the market, it is difficult to confirm a roadmap. We want to wait with a formal announcement until certain things are set, otherwise everyone gets confused, and it complicates conversations with investors and partners. Nevertheless, our new roadmap is taking shape, and we're confident that our approach to retail offramps will add value to the market. Recent events in the banking industry have further reinforced this. Team-wise, we'll need to make some adjustments in order to execute on our new roadmap. At this point, the core team is still on board, but some had to pursue opportunities elsewhere too. The work that has been put in during this transition period is pure sweat equity as we remain frugal. We will address the funding status for the new roadmap together with the official announcement. I hope this answers some of your questions. Otherwise, post them here and I’ll try to answer them these days (no repeat answers 😌) Have a good day/night wherever you are in the Versoverse.