Hi everyone, I’m Kevin, VP of Asia Pacific Strategic Partnerships at Roxe. I’m glad to meet you all at Coin World today and talk to you about the technology, economic model, team and investors of Roxe, etc. Today is full of dry goods, I hope you can get something out of it.
First, let me introduce what Roxe is.
Roxe is a global cross-border remittance and payment grid based on blockchain technology that provides consumers, businesses, banks, and cross-border remittance companies with a peer-to-peer optimal path to support payments, enabling real-time, low-cost cross-region, cross-currency, and cross-system payments. Using blockchain and Internet technology, we will build the next generation of global payment network, an open metal infrastructure, to make payment simpler and more efficient.
Simply put, blockchain technology is used to enable cheaper and faster cross-border remittances and payments. If you have any experience with cross-border remittances, you know that the main protocol used for global cross-border remittances now is the Swift protocol, which is a cross-border remittance protocol led by the U.S. in the last century, and any cross-border remittance needs to pay money to this organization. Let’s take an example, remitting US dollars from the US to Hong Kong dollars in Hong Kong will take at least T+1 business days, with a later delay in case of holidays. Sometimes it can even take 3 to 4 days because the money may arrive at a transit bank in Singapore and then to Hong Kong. The time is very long, and the inbound and transit banks will charge a fee for the remittance trip.
To sum up, traditional cross-border remittances are slow and expensive.
Roxe wants to use the emerging blockchain technology to solve these problems. The global market for cross-border remittances is very large, with a size of $200 trillion by 2020.
Then to better solve these problems, Roxe uses the latest blockchain technology combined with traditional technology.
Because of the limited time today, we can only briefly introduce it, and welcome you to discuss it offline.
Roxe Network has developed a public chain – Roxe Chain, and has its own wallet and browser, using BFT+DPOS, processing 3800+ transactions per second, which can carry daily trillion dollars level of transfer use.
Roxe Chain is a semi-open hybrid chain. It can realize cross-chain function, and all assets are mapped to Roxe Chain through RSS cross-chain gateway of settlement node to realize different network assets, such as: BTC network, Ether network, bank network, securities network, etc.
Roxe Chain also incorporates Defi attributes, which I believe is not new to Defi. There are a number of different Defi smart contracts running on Roxe Chain for various types of asset Swap, pledge lending, insurance and other related DeFi applications.
Of course, because the Roxe Network involves fiat currency, then it must work with traditional financial institutions, which inevitably requires support for existing technologies adopted by traditional financial institutions. For the main international remittance and global payment business, we integrate the underlying services and provide encapsulated RTS services for traditional financial institutions.
For bank-like nodes, we also provide seamless remittance messaging networks such as RMN. For payment nodes, we also provide access to payment gateways through RPP to make the whole payment process smoother.
Through automatic exchange + intelligent routing to achieve the flow of assets between different networks and different countries.
Similarly, the Roxe network is designed with a four-layer protocol stack, consisting of consensus layer, liquidity layer, network layer, and application layer from the bottom up.
The bottom layer is the Roxe Chain mentioned earlier, which is a dedicated hybrid chain built for global payment settlement with high-speed and low-cost transfer characteristics. It adopts a licensing system for access nodes and can effectively implement KYC/AML.
The second layer is the liquidity layer, which contains three protocols, namely the Roxe Payment Protocol (RPP), which provides currency exchange to end customers and nodes, the Daollar stablecoin protocol, and other DeFi protocols.
The third network layer, Roxe Instant Settlement Network, or Roxe Light Settlement Network (RISN), is a platform that connects and integrates network members to provide clearing, trading, escrow, minting, redemption, transfer, common KYC, etc. Roxe Light Settlement Network is for nodes such as banks, cross-border remittance companies, payment companies applications, and each node partner will bring its own application scenarios and users to accelerate the formation of network effects.
The fourth layer is the application layer, which is the business layer with the most contact with users, banks and remittance companies, etc. Through Roxe’s application layer, ordinary users can use the Roxe payment network to make online payments and remittances and other operations in different countries’ fiat currencies.
These are the technologies and protocols involved in the Roxe network.
We all know that there are early pioneers in the payment track, and Ripley is the earliest and currently the largest payment leader. But Ripple was born 8 years ago, the technology is of the previous generation and has not landed many applications so far. what will be the result of comparing Roxe with Ripple?
Compared to Ripple, Roxe has many differences, with five main competitive advantages.
-The first advantage is that it’s faster. Our throughput is faster, and Roxe can process up to 2,800 transactions per second, compared to Ripple’s 1,000 transactions per second. We’re more than twice as fast as Ripple, and Roxe Chain can create a block every 0.5 seconds, whereas Ripple takes 3 to 5 seconds. In terms of speed, that’s a big advantage for us.
-The second competitive advantage is low cost. We are designing a low-cost payment network for our partners and consumers, and Roxe does not charge remittance partners setup and maintenance fees that other platforms typically do. As an example, for those sending money to the U.S., we charge a flat fee of $1.50. If they send money to another country, we charge a small foreign exchange fee of about 8 to 30 basis points, which is very inexpensive.
The third competitive advantage is compliance. We all know that Ripple is still being litigated by the SEC in the U.S., but Roxe has been focusing on compliance since the day it was born, getting a U.S. license and partners who are licensed operators in various countries, thus fundamentally avoiding the problem of non-compliance.
-The fourth competitive advantage is the absence of foreign exchange losses. Compared to Ripple’s use of XRP as an intermediate currency, whose price fluctuations pose a risk of foreign exchange losses to users, the Roxe network is based on Roxe Token, backed by fiat currency, ensuring that users are not exposed to the risk of foreign exchange losses.
-The fifth competitive advantage is the richer design of the economic model of the pass, combined with Defi technology, which supports the value of the platform pass more and is more conducive to the development and stability of the network.
So, we think there are five main advantages: faster throughput speed, lower price, compliance and no foreign exchange loss and richer pass economic model design.
So just talking about compliance, I’d like to focus on expanding on that.
Roxe takes a fully compliant route. In the U.S., we have partnered with a number of banks to open UBO accounts, and have taken MSB licenses and MTL licenses.
In Hong Kong, India, Nigeria, Brazil, EU and other countries, Roxe has signed cooperation agreements with local licensed financial institutions, such as ECS Fin, Fairexpay, etc.
For some foreign exchange control countries, we have designed algorithmic stable coins DO to circumvent to some extent.
Roxe is not involved in RMB business for the time being, and will consider DCEP access in the future according to policy and market conditions.
In short, by cooperating with banks and financial institutions, we take a route that complies with local laws and regulations to avoid touching the regulatory red line. At the same time, our service can reduce operation and transfer costs for these institutions, and they are happy to accept such a technical solution.
Currently, Roxe’s international business team is working closely with financial institutions around the world, and we believe there will be more and more good news.
So I’m sure some of you will ask, since Roxe has done so much in terms of technology, products, compliance, and commerce, how is it going?
That’s a good question, and I’ll talk about it in three ways.
The first is the expansion of the Roxe network on a global scale, mainly in terms of partners signed. To date, we have signed 14 partners worldwide, across North America, Europe, Africa and Asia. These partners include banking technology service providers such as ECS Fin, which holds a SWIFT service license and is one of the largest banking technology service providers in Europe, serving more than 200 banks in Europe, and which uses Roxe functionality in its core banking applications to provide Roxe to its customers worldwide. customers worldwide. At the same time, we work directly with remittance partners such as N2Xpress, which is responsible for sending money from the U.S. and Canada to Asia and Africa. In India, we have a partnership agreement with Fairexpay, a licensed financial company in India with payment services in more than 200 countries and 130 currencies.
In the past few months, we have announced a number of partnership agreements, in addition to negotiations with a number of central banks around the world.
Secondly, Roxe Network has already opened the actual remittance business in US dollar, Hong Kong dollar and British pound, and other national currencies will be gradually promoted as we cooperate with our partners. It is believed that soon the Roxe network will be able to support up to 10 or more currencies. This will greatly promote the application and business volume of the Roxe network.
Thirdly, the public chain, the official website are already online, and the official websites are roxe.io and roxe.tech for interested partners.
After so much talk, I believe many cryptocurrency partners can’t wait to ask: Does this project have tokens? How much is the total volume and what is the price of the coin?
Okay, let’s talk about the pass-through design of ROC.
ROC is an ecological pass issued by Roxe Cash, with a total of 100 million pieces and of which.
35 million for super node pledges and foundation pledges, etc., which will not circulate in the secondary market.
5 million are owned by early stage institutional investors.
15 million for team holdings.
5 million for community and marketing purposes.
The remaining 40 million will start to be released after 12 months, using smart contracts to release no more than 50,000 pieces per day.
In other words, in the next 10 months, the total number of ROCs circulating in the secondary market will not exceed 25 million.
In order to continuously increase the value of ROC, we have also designed five major application scenarios.
(1) ROC is the only eco-pass of Roxe network, holding ROC can reduce the consumption in Roxe network, such as transfer fees, etc.
(2) ROCs can be used as pledges for super nodes, and the Roxe network requires super nodes to pledge ROCs, with each node pledging a certain amount of ROCs, and as more financial institutions enter the network, the number of ROCs to be pledged will increase significantly, which will greatly push up the value of ROCs.
(3) ROC can participate in some DEX mining, such as in Mercurity.Finance [APY: 240%].
(4) ROC can be used to pledge for DO, which is a stable coin in the Roxe network for USD algorithm and can support cross-border remittance of USD
(5) ROC can participate in the governance of Roxe network, including voting, etc.
In the future, the Roxe network will continue to empower ROCs and give them more landing use scenarios, so stay tuned.
As for trading, ROC has already launched ROC-USDT trading pairs on Bittrex and HBTC’s BKEX exchange, and set up a ROC-USDC pool on Uniswap. For other exchanges, we are also in talks and I believe we will have results soon.
I believe you are all old people in the cryptocurrency circle and must be very concerned about the price of ROC tokens. I have no way to promise you how much ROC will definitely rise to, but I can give a value assessment based on certain models.
(1) The valuation of a project, first of all, depends on the size of the track, the global cross-border remittance transaction volume in 2020 is around 200 trillion dollars, most of which are transferred through the SWIFT protocol between banks. billion dollars a year. The value of a pass-through certificate for a project with this business volume must be very high.
(2) As mentioned above, Rexroth, which was founded in 13 years ago, is a leading early entrant into the industry, and although it has not really implemented the actual money transfer business on a large scale in the past 8 years, it is worth $50 billion or even $60 billion just by virtue of its “imagination”, and at its peak it was as high as $300 billion. And even if Roxe only reaches 1% of Ripple’s market value, which is $600 million, there is still hundreds of times more room.
(3) Roxe in the design of the economic model of ROC, specifically for ROC designed a variety of use scenarios, in addition to fees, there are mining, node pledges, Do pledges and so on play. Especially once the super node pledge and Do pledge are opened, the demand for ROC will grow exponentially, and it is still very early.
In other words, whether from the track itself, the competitor, or from the economic model design, we believe that ROC still has a relatively large potential, let’s wait and see.
With such a big track and such a big project, then it will inevitably require an exceptional team and the support of many institutions. I will talk about the team and investment institutions of Roxe.
Roxe is headquartered in New York, USA, and also has offices in Singapore and Beijing, with an international team.
In view of the time, I will briefly introduce the core people of the team.
Haohan Xu [Founder].
Graduated from Columbia University, he has been engaged in algorithmic fund research and investment in the digital currency space since 2016, and successfully created Apifiny, a quantitative and master broker platform. he continues to support the internet and payment application track, building a core team of executives and compliance experts from SWIFT, Ripple, DTCC, Microsoft, Google, IBM, Bank of America Merrill Lynch, FINRA Roxe’s core team consists of executives and compliance experts from top technology and financial institutions such as Deloitte.
Josh Li [Chief Business Officer – Former Google Executive
Josh is a former Google executive who led the strategic partnerships and innovation teams in North America and Asia Pacific. He holds a B.A. in East Asian Studies from Harvard University and an M.B.A. in Marketing from the Anderson School of Management at UCLA.
Henrique P. Teixeira [Managing Director – Former Ripple Executive
Henrique Teixeira holds a B.S. in Mechanical Engineering and a degree in Business Administration and Finance. He served as Head of Strategic Partnerships at Ripple, expanding Ripple’s regional presence in Singapore, Sao Paulo, New York and Europe based on SWIFT. Previously, he worked at several global financial institutions including HSBC, Deutsche Bank, Citibank and American Express, where he was involved in the payments and cash management industry.
Thomas J. Trépanier [Managing Director – former SWIFT executive].
Thomas has over 20 years of experience in the financial services and software development industry. Prior to joining Roxe, he led the FinTech business at Global Accelerated Ventures (GAV) and worked at SWIFT, DTCC (Omgeo), SunGard (FIS), Brown Brothers Harriman and Bank of New York Mellon. New York Mellon for more than 15 years in software development and financial services.
More information about the team can be found on the website: https://roxe.io/about.
Roxe Capital Limited closed its Series A financing round with over 20 investors including.
Chainup Capital, Bisheng Capital, Consensus Labs, Chain Capital
Chainup Capital, Efund, K24 Ventures, N7 Labs.
Timestars Capital, OPC, PAUVEY Capital, AKG Ventures
AKG Ventures, Precedence Capital, 7 O’Clock Capital, Oscar Capital, Tokeninsight and others.
Previously, Roxe Capital Limited also received seed round investment from Zero2First, HBTC Labs, MNS Capital and other institutions, and the cumulative funding has exceeded one million dollars.
Then, Roxe’s subsequent planning is also more detailed. Regarding the roadmap, RISN consists of three sub-networks. They are global payment clearing network, digital asset clearing network, and digital securities clearing network. Our RISN global payment clearing network already serves more than a dozen cross-border remittances, banks and other financial institutions, and we expect to serve hundreds of financial institutions this year. In the third quarter of this year, we will open the Digital Asset Clearing Network to enable real-time transfers of fiat and cryptocurrencies across exchanges and wallets, and in the first quarter of 2022, we will open the Digital Securities Clearing Network.
Another exciting announcement is that Roxe Pay, a revolutionary product for individual users, will open in June of this year. Users can transfer money between them in real time, whether they cross borders or not. Users can get cash back on their payments and merchant collections can be made in real time. In the third quarter, Roxe Pay will offer real-time cash back for large payments and support multi-asset payments. In the fourth quarter, Roxe will go live with Roxe Earn, which offers an annualized return of up to 10%. in the first quarter of 2022, it will open up virtual credit and debit cards, and in the third quarter, it will support more asset-based payments.
As Roxe is a project originated in the United States, there is almost no publicity in China before, but you can check the news from abroad, and there will be Roxe’s voice in China gradually.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/we-will-roc-you-the-former-life-and-death-of-roxe-the-dark-horse-of-the-payment-circuit/
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