Zodiaq claims to be the first licensed bank that offers a wide range of cryptocurrency and fiat currency services. Find out how it works today in our review.
What Is Zodiaq?
Zodiaq, found online at Zodiaq.io, is a financial ecosystem that aims to make cryptocurrency management easier for everyone. It’s a crypto bank registered in Comoros, a small island country off the eastern coast of Africa.
Key features of Zodiaq include a hedge fund managed by artificial intelligence, a payment platform capable of processing fiat and cryptocurrencies, and a payment card paired with a physical smart wallet.
Right now, Zodiaq appears to be in the early stages of launch, and there’s limited information about the project available online.
Let’s take a closer look at how Zodiaq works and how it plans to differentiate itself from other cryptocurrency banks.
How Does Zodiaq Work?
Zodiaq is a financial ecosystem consisting of several core features and functions, including all of the following:
Zodiaq will have a payment gateway for merchants and individuals, allowing you to pay using cryptocurrencies or fiat currencies. Merchants can use the Zodiaq payment system to accept cryptocurrencies, for example, while paying a small commission fee. The Zodiaq payment system is also connected to the Zodiaq card.
Zodiaq will have a payment card that lets you pay wherever you want – say, wherever traditional bank or credit cards are accepted. You can withdraw money through ATMs. You store fiat and cryptocurrencies in your Zodiaq account, then choose whether your card will use fiat or cryptocurrency funds. You can switch funding sources at any time via the Zodiaq mobile app or web app.
Zodiaq’s smart wallet functions as a cold wallet, allowing easy storage of your cryptocurrencies. You can bind your third party’s bank cards with the smart wallet while enjoying seamless payment options. You can connect Zodiaq’s wallet to your card, for example, and manage your fiat and cryptocurrencies through the wallet app. Zodiaq’s smart wallet is a physical device – similar to cold storage wallets like Trezor or Nano. The wallet is equipped with an e-ink screen, Wi-Fi, Bluetooth, and GSM modules. It can connect to your PC or Mac via USB.
Zodiaq will have a cryptocurrency exchange that offers an easy UI, a wide range of financial instruments, and a wide range of financial assets available for trading. Exchange users will enjoy instant deposit and withdrawal options, including withdrawals and deposits via the Zodiaq bank card.
Zodiaq will have a hedge fund with AI-based asset management system. The Zodiaq AI will use big data analysis and machine learning to implement successful investment strategies and scenarios. The hedge fund’s trading algorithm is currently being tested on Poloniex, where it has reportedly achieved 100% profit over a 20 day testing period.
Crypto / Fiat Bank
The overall goal of Zodiaq is to function as a bank for cryptocurrencies and fiat currencies. Zodiaq will have a fully licensed and legal bank at the heart of its ecosystem. That bank will allow you to manage cryptocurrencies and fiat currencies across separate accounts from a single dashboard. You can enjoy instant money transfers and make deposits in fiat currencies or cryptocurrencies.
Zodiaq Token Distribution
Zodiaq will distribute 80% of its tokens to investors, 10% to the founders and team, 3% to bounties, and 7% for partners.
Tokens are listed under the symbol ZOD. Zodiaq is accepting BTC, ETH, XRP, BCH, LTC, DASH, and XEM as part of its upcoming token sale. They’ve also set a hard cap of 5000 ETH for the token sale.
The dates for the token sale have not been announced as of April 2018.
Who’s Behind Zodiaq?
Zodiaq is led by Oliver Kempkens (CEO), Aleksandr Gorbov (CVO and CO-Founder), Pavel Dmitriev (CMO and Co-Founder), Erik Shekhmametev (COO and Co-Founder), Vyacheslav Grachev (CTO), and Ilya Churakov (Marketing Strategy Advisor).
There’s limited information about any of these individuals available on the Zodiaq website. Oliver, the CEO, for example, has just two sentences explaining his qualifications:
“Oliver Kempkens (CEO): Financial and fintech solutions and consulting. Experience in the field of stock and currency market”
Aside from that, we know nothing about the man, and there are no links to LinkedIn profiles or other third party sources.
As of April 2018, there’s limited information about Zodiaq available online. The links to the whitepaper are not currently working, and there’s limited information about the project available online overall. We know that the company will offer cryptocurrency and fiat currency banking through a legal and registered bank, but we don’t know many details beyond that.
We do know that Zodiaq appears to be registered as a crypto bank with the Offshore Finance Authority for the nation of Comoros. Registration information – including license numbers and registration numbers – is listed on the official Zodiaq.io website. We also know that Zodiaq plans to launch payment cards, a cryptocurrency exchange, and more.
Nevertheless, we expect more details about Zodiaq to emerge in the near future. Stay tuned to Zodiaq.io to learn more about the project and how it plans to move forward.