Thank you for always supporting the Crypto Harbor Project.
The content of this announcement is as follows.

1. The situation in Moldova

2. Development progress

3. Release of white paper

4. Affiliation with U.S. banks


1. The situation in Moldova

The situation in Moldova is getting worse, with 260 out of about 900 doctors and nurses infected with coronavirus, a medical breakdown countdown.
If someone is a corona? Even so, the hospital is the most dangerous, so residents cannot go to the hospital.
Chisinau, the capital, is a ghost town with restaurants closed. Of course, we can’t go outside except going to the supermarket.
The Moldovas never had a mask, but Moldova is now short of masks.
With economic activity halting, social unrest is increasing as well, as bankruptcy is likely to continue.
The Moldovans are very wondering, as Japan has not been dropping down until recently.
Perhaps Japan will have more infected people in the future?
Despite the difficult situation, we are gradually progressing from what we can do. However, we are struggling because we are unable to move forward because the development is done by the team.

2. Development progress

a. DEX⇒ Schedule is currently 3 weeks late.

We aimed to be a DEX app for the BTC, ETH, and XRP markets, but we plan to release it on ETH (including ERC20) only as the first step.
Since the DEX system itself is a concept that is generally unfamiliar, we are making improvements to make it an application that can be operated intuitively even by people unfamiliar with cryptocurrency.
In addition to testing this feature, once the DEX version of the lockup & mining test is complete, we would like to recruit a few monitors and ask for testing.

b. System renovation ⇒ Schedule is currently one month late

Based on the white paper, we aimed to change the direction from an exchange to a “ financial business platform ”, so we identified the necessary functions and performed a rough design, but the content of the white paper itself was finalized,the design work was delayed.

3. About publication of white paper

We believe that this is not a final decision, it is still 50% complete
We wrote out the idea of ??”Aiming in this direction”.
Because of the vague content, English translation took time. However, we believe that the direction we were aiming for became clear as we revised the content while translating it into English. We’re going in a different direction than other exchanges, so trial and error may continue.
We are in the right direction, so we appreciate your understanding and cooperation.



4. Affiliation with U.S. banks

The partnership is still under consideration and is not finalized. Details will be reported when finalized.
Here are some of the potential benefits for Crypto Harbor users if we partner with a U.S. bank.
Crypto Harbor also has a bank account in Moldova, but it is not possible to deposit and withdraw from any country in the world.
In that sense, just having a bank account in the United States is of great significance to users all over the world.
We believe that there are three major benefits for Crypto Harbor users.

1) Crypto Harbor can be based on USD
2) BTC / ETH deposits can be made directly from Crypto Harbor to banks
3) Using a bank card, users can deposit and withdraw at their local ATM

I will explain in the following order.

1) Crypto Harbor can be based on USD

Efficient e-money CHEUSD (provisional) will be issued within Crypto Harbor because it will be possible to deposit and withdraw to Crypto Harbor with USD
This will allow the value standard of Crypto Harbor to be USD.

2) BTC / ETH deposits can be made directly from Crypto Harbor to banks

We are currently considering the possibility of depositing CHEUSD from Crypto Harbor to the bank by modifying the system.
In addition, since the banks that are considering the alliance this time can deposit with BTC / ETH, it is possible to deposit directly with BTC / ETH immediately.

3) Using a bank card, users can deposit and withdraw at their local ATM

The bank will issue a card with a credit card, so you can deposit and withdraw from the ATM in your home country with USD, JPY, etc.
In other words, it becomes possible.
(1) Deposit USD etc. from ATM to Crypto Harbor
(2) Make a transaction
(3) Deposit / keep in bank
(4) Withdraw it from your local ATM in your local currency
The features of the banks that are considering the alliance this time are as follows.
・ Being an Internet bank
・ No need to go to the US to open an account
・ CRS unnecessary
* CRS means that if a resident of Japan has a bank account in Hong Kong and has registered a Japanese address at the time of opening the account, the account information will be lost to the Japanese tax office.
・ It is possible to deposit and withdraw money at ATM using a card with credit card (USD / JPY etc. can be used)
・ BTC / ETH allows bank deposit
When the tie-up is confirmed, we will start recruiting accounts for users.