February Update: First Transactions

In this issue:

  • OSOM exchange is up and running
  • Silent launch, yet sound 100 transactions over a month
  • NBB license still slow, new ways of getting to market faster are being discussed
  • OSOM starts marketing tests

Legal: the two fronts

Our legal activities are focused on two fronts:

  • Renewal of Estonian crypto service licenses. The process falls into the standard timeline of document submission and replies. It does not influence our current activities nor it prevents us from the continuous crypto wallet and exchange service.
  • The ongoing correspondence with the NBB regarding AISP and PISP license, however, is affecting our expected release date on the fiat account aggregation and payment initiation in the app. On the other hand, undergoing such scrutiny from the regulator makes us more prepared for other frontiers: we are talking to potential partners whose license we could use to go to market faster, while our own application process is not finished.
  • Good news – in the light of our latest development, we decided to open the OSOM crypto service to the Belgian market – we can already start building our user base in the country. OSOM exchange, wallet and portfolio tracker is our current marketable functionality, which is gaining traction independently of the fiat part.

Product updates

Crypto functionality of the OSOM app is now focused around polishing of the implemented functionality and preparations for next additions:

  • Crypto exchange being the center of attention, works reliably. With a quiet launch in place, the numbers are around, 100 transactions so far. And all this with the tiniest fee structure in the market! This makes us optimistic about the scaling of the service.
  • We are currently working on expanding deposit options beyond SEPA transfers. New partnerships are being discussed. Stay tuned for more news on additional ways to top up your exchange account.
  • Meanwhile, all our users can benefit from public address aggregation even without passing the identity verification and opening an OSOM wallet. We see quite a lot of traction for that product alone.
  • We keep improving the User Interface based on your comments. Small improvements contribute to customer satisfaction – onboarding is getting easier, navigation more intuitive. If you have any suggestions, don’t hesitate to let us know via in-app Customer Support function or [email protected].
  • We are at full speed in developing aggregated transaction history, analytics, more payment partners for deposits and withdrawals, and of course, the robo-trader, which we think you’ll love.

Fiat functionality is undergoing MVP tests, while we are waiting for the regulatory news:

  • We have tested Estonian and Belgian bank account aggregation in the dedicated test environments and
  • We are planning the next additions: transaction history and analytics.

Worth mentioning again, that all the functionality that we consider adding to OSOM falls into our model of “aggregate-curate-automate”. This way we ensure, that we are bringing the most value to our users – making their life easier, finances clear, selecting the best propositions and helping remove the unnecessary routine.

At the moment, we are celebrating our users appreciating the OSOM experience – buying BTC or ETH in just 6 clicks at our proposed low and transparent fee. If you haven’t done so yet, please check our exchange out. For sure, you have friends, who you think would benefit from some of the cheapest exchange services around too. Show them our app! OSOM is the best choice for any crypto beginner and is very useful for users with a diversified portfolio.

Once you are there, report, suggest or just give us kudos even if you have nothing more to add 🙂 We would appreciate if you rated our apps on App Store and Google Play, followed and invited your friends to follow our Facebook, Twitter, and LinkedIn profiles. Every new follower is an additional connection to help our business grow organically.

What about your PLBT?

We heard three questions circulating our Telegram groups over the last month:

  1. Was Polybius involved in the recent token value fluctuation? The answer is – no. Nothing has changed in our longstanding position about getting involved in speculative activities. We are more than happy to continue tackling the volatility of our token with the help of the market makers, but we will stay away from internal trading, pumps and dumps and other unfair manipulation practices.
  2. Will every PLBT be entitled to dividends if such are paid out? Yes, once the decision is made to distribute a share of profit (N.B. – profit is not income and redistributable profit is not profit), every PLBT is entitled to be rewarded.
  3. Will OSOM provide insurance from the potential loss of funds? We are looking into the matter, but at the time we cannot provide such coverage. For now, we are doing our best to protect your keys and mitigate the risk of compromising our service with the help of tech solutions.

Build up in marketing activities

We have been systematically conducting marketing tests so far, which gives us a better feel for our scale, speed, and cost of acquisition. Test, learn, adjust, test new hypotheses is the most effective marketing approach. We would also gladly hear your suggestions too! If you happen to know a place of gathering of the likeminded crypto people that could benefit from the OSOM service – let us know via [email protected]. Be it a blog, a discussion board, a social network group or a Reddit channel – all are interesting to test, as long as we are relevant with our offer, independently from the size of the group.

It would be fun to learn what type of OSOM swag you would like to have? Would you proudly wear a t-shirt, or put a sticker on your computer? Do you have any ideas that you would like to share with us in our Telegram groups? Please tag your suggestions with #swag – can’t wait to start reading them!

Team life: New Office in Tallinn

We’ve left our office by the airport to settle by the harbor. The team was expanding and since the beginning of March, we moved to a new office that will give us more room to work comfortably. And we are still hiring! We are still actively looking to hire a Growth Hacker in Brussels, and a Community Manager in Tallinn and a Product Manager and a UX/UI designer in Brussels or Tallinn. Please have a look at our job board. If you happen to know a perfect candidate, please share the job listing with them.

With things happening all the time, make sure you follow Polybius and OSOM on our official channels: