Mr. Kallmeyer, you have worked internationally at banks and asset management companies, what made you join a startup in 2018?
Due to the fact that it was foreseeable in 2018 that cryptocurrencies and their benefits would establish themselves as an asset class and regulators such as the FMA Liechtenstein were already working on a draft law for cryptocurrencies, I decided to become active in this area. When I came across Calidris Fintech AG, I realized that the company’s philosophy and its intention coincided with my ideas. That was the reason why I joined Calidris Fintech AG.
You also worked as an exchange futures trader, where do you see the similarities as well as differences between the crypto market and the established markets?
Since the crypto market is still in its development, the trading volume is accordingly small compared to established markets. Furthermore, it should be noted that extremely high volatilities prevail due to the lower trading volumes. Also from the legal side, it should be noted that from a global perspective, only a few countries have regulation and since crypto exchanges store the coins themselves, they are often the target of hackers. Basically, the price formation mechanism is the same as in established markets and the distortions that can currently be observed in the crypto market are similar in nature to those that occurred in the early 2000s with Internet companies, i.e. the .com bubble. Securitization brought up a revolution in the 1980s and is now being replaced by even more far reaching tokenization.
What were your company’s motivations for having your token regulated? You could have done a token issuance in a simpler and cheaper way.
In 2016-2018, one could observe many unregulated ICO coin initial offerings, which turned out to be scams. As a result, government regulators had to intervene and enforce appropriate measures. Calidris Fintech AG has relied on a regulated security token offering from the very beginning to satisfy its investors and the government authorities. It is a considerable additional effort to set up a STO, but this decision will pay off in the long run from our point of view.
There are already hundreds of different trading platforms on the market, why are you launching another one now?
Certainly there are already many trading platforms on the market, but Calidris is taking a completely new approach. Thanks to our platform’s own regulated token, we can reward token holders who act through our trading platform with a daily cashback on their volume. Furthermore, the token holder will benefit from future expected dividend payments from Calidris. With this approach Calidris goes a unique way and we are convinced that in the long run we can win a large trading community with this system.
Regulated exchanges and security tokens, like the one your company is issuing, are almost non-existent and accordingly there is a lack of liquidity and demand. Do you see this as a big risk?
Currently, many large established exchanges such as the SIX Digital Exchange are in the process of launching coin trading venues. We expect the first ones to start operations by the end of this year. Calidris is aiming to realize a listing at exactly such trading venues. It can be expected that there will be sufficient volume on such exchanges, as they are also used by institutional investors.
How do you think the target market will develop in the next 3-5 years?
In the coming years, I believe the trend of digitalization will accelerate and companies that will operate in this environment will generally show high growth figures.
Furthermore, blockchain technology has established itself in many application fields and is thus gaining increasing acceptance from broad segments of the population. In the financial sector, government regulators have started to create a legal framework that will significantly increase the confidence of market participants and provide a real boost to growth.
Thank you very much for these exciting comments. Stay tuned!