Can a user open an account directly on ioCash?
No. We are a B2B platform that enables companies to build new business models. Final users can operate through client services that use ioCash.
Is ioCash a stable coin?
Yes and no. We are not willing to be a stable coin, at this moment. Our aim, as B2B platform, is to enable businesses to rule their money and payment scenarios. One of the use cases can be the creation of a stable coin, that thanks to ioCash would be a REAL stable coin. If you are willing to build a game changer stable coin, let’s talk.
What fiat currencies does ioCash support?
Only Euros at the moment, but we will be adding US dollars soon, and more international currencies.
With which countries regulations is ioCash compliant?
At the moment ioCash operates under an Electronic Money License issued in Spain and can be used to operate in the rest of the European countries members of the EEA (European Economic Area). Soon we will be also compliant with U.S.A. regulations.
Can I connect an ioCash account to an existing bank account?
No, the creation of an ioCash account implies the creation of a new IBAN connected to an Ethereum address. Users cannot connect their existing IBANs to the new account.
Do users have an ioCash card associated?
Not yet, but it will be coming soon. Meanwhile, users have accounts with an IBAN that can interact with the banking system in the same way as a traditional bank account.
Can a user send the fiat money tokens to any ethereum address?
ioCash tokens can only be sent to whitelisted accounts, on the given selected network where the use case is implemented. If the user wants to send money to a new address, the address needs to be whitelisted and associated to an existing account beforehand. This is strictly necessary to be compliant with KYC and AML regulations. Money can be moved from an ioCash account to a bank account at any time via SEPA transfer.
What happens if a user loses his/her private key? Is the money safe?
ioCash has the legal responsibility to care about the user funds. If a private key is lost, the user can associate his/her account to a new ethereum address, after validating his/her identity against the personal information gathered during the sign up process (KYC).
Is ioCash storing the private keys?
ioCash never stores any private key. It is the client’s decision whether to provide a mobile app or another solution. Users will be guided by our clients.
In which blockchains can ioCash be deployed? Public or private?
IoCash is compatible with any Ethereum based network. It can be deployed on public, permissioned and private networks.
As a business, what do I have to do to start using ioCash?
Contact us. We will give you access to our API and smart contracts so that you can test them and learn all the possibilities that they can bring to your business. In addition, you can test the technology with our demo and make your first real euros transfers on the blockchain: Ourion.
What types of businesses can benefit of using ioCash?
Any company in which economic transactions play an important part of their business and wants to tap into the potential of the technology. Also, any business that already uses blockchain technology and needs to operate with fiat money.
What is the price of using ioCash?
It depends on the use case. We have a flexible pricing model that adapts to the specific needs of our clients. Contact us for more info.
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