Midas Technologies Joins Multichain Asset Management Association – Developing Industry Standards and Advancing Regulations

Advertisement

This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release.

Midas Technologies AG has been announced as founding member of the Multichain Asset Management Association (MAMA) by Mona El Isa, co-founder of Melonport AG. The association‘s goal is to work closely with regulators worldwide towards a modernization and adaption of regulations with regard to asset management using blockchain and other supporting decentralized technologies.

The announcement was made at Melonport’s M-0 conference (October 17th – 18th) in Zug, Switzerland. Midas CEO, Adrian J. Gallo was invited as speaker and presented the Midas project to a top-level audience consisting of finance and technology experts from around the world. He introduced Midas as mobile portal to the Melon protocol for retail investors and highlighted the benefits of blockchain-based fund management such as increased security and control as well as drastically lowered market thresholds. As these developments fundamentally change the industry’s setup and operations, regulations of traditional asset management become more and more outdated. Midas Technologies therefore pursues a close dialogue with regulators to explain benefits and the need to adapt regulations accordingly and enable further innovation in fintech fields.

Joining the MAMA association is one step forward in Midas’ general approach of maximally meeting legal requirements and pushing regulative development in a so far unregulated and partly opaque industry. Incorporated in the Crypto Valley Zug Midas works with a leading Swiss law firm on developing and implementing best-practices in compliance and investor protection. Furthermore, the co-founders seek out for direct contact with Swiss Financial Supervisory Authority FINMA in order to set legal and regulative benchmarks in the crypto space. The founders perceive the recent tightening of legal frameworks with regard to ICOs in Switzerland as an important signal. Gallo called the industry’s move towards a trustworthy and sustainable image indispensable, particularly with regard to their own project.

Midas is a platform that allows users to participate in a socio-financial network and invest in all kinds of digitalized assets, from cryptocurrencies and ICOs to tokenized traditional financial instruments like stocks, ETF and derivatives. Particularly focusing on retail investors Midas provides several key functionalities that will open the ecosystem of blockchain-based fund management to a wider audience. The Midas Touch makes investing for Midas users as easy and fast as clicking the Like button while connecting all sorts of businesses and products to the platform. Midas Community funds aim at the collective spirits of asset management and allow users to gather in groups to experience investing processes together, from selecting assets, over discussing strategies up to the investment and withdrawal of revenues. Beyond that, a chatbot assistant and other integrations introduce a new era of investment experiences.

Midas Website: midas.social

Midas Blog: https://medium.com/midas-app