Everest Newsletter - Q1 2023 (Part 1). A Note From Our CEO & Co-Founder, Bob Reid.

04 Apr 2023, 19:04

🗞 Everest Newsletter - Q1 2023 (Part 1) 📝 A Note From Our CEO & Co-Founder, Bob Reid Most in crypto started 2023 with sentiments in the doldrums and expectations of a prolonged winter and possible deep recession; they gnashed their teeth and foreswore their own governments for perceived excessive regulation. Not Everest. Since Everest is the vehicle from which existing fiat, web 2.0, traditional institutions metamorphize into a society anchored on user-centricity and regulatory common sense, we don't sweat the monthly ups/down, and are not surprised regulators are enforcing compliance - we buidl and play the long-game. In Q4, we prioritized B2B2C infrastructure over direct-to-consumer, and committed ourselves to delivering the required platform to elevate not only crypto to the next level, but actually create an environment for sovereignty and a suite of capabilities upon which a better society could be built. That's a lot of fancy words with aspirational, floral language (mom and SAT tutor would be proud) - what does it all mean? Everest's first foray was a payment widget for fiat-to-crypto (buy) and crypto-to-fiat (sell) that any wallet, dApp, DEX, gaming or traditional finance organization could use. It has the integrated onboarding, requisite KYC above $1k (not needed under that threshold), fiat rails with direct banking integrations in Europe and debit card globally. We are approved and will be adding more fiat-on/off ramps in various countries over the coming quarters. There are others in the market who do similar functions, but they are mostly fiat payment gateways, limited in the benefits they offer users. To remind everyone, Everest is a regulated crypto custodian, licensed to hold crypto on behalf of users (and fiat with partner orgs), execute orders and receive & transmit orders. As such, in addition to fiat/crypto conversions, we offer users the ability to send/receive fiat or crypto overseas, buy/trade/sell crypto (like an aggregated exchange), vote, create DAOs, borrow/earn/lend; akin to Google offering Gsuite for free, while monetizing search. So, think of the crypto/fiat widget as a B2B2C go-to-market tactic within the larger strategy of empowering 8 billion humans to start self-organizing and transitioning society. Also, we launched the Identity SDK, a widget that allows wallets, DEXes, DeFi to give their users human, unique identities, and optionally KYC - all attached to wallets......this opens up features like "reusable KYC" among Everest's network of partners, voting, proof of not being a bot, account recovery (never lose your keys!), facilitating airdrops to unique human beings (not whales with 500 wallets), and many more applications. (Continued...)