Details on MinexPay card issuers and partners – Chain2pay, ČSOB Bank, Novarise, ABS iAccount, possibly more

Image source: Bitcointalk

Last week MinexPay distributed news about their partnership with ČSOB bank:

https://medium.com/minecoin-blog/čsob-bank-partnership-the-roadmap-and-cards-shipping-update-8cc5a7372822

Turns out the bank itself is not aware of the partnership.

This is the tweet the ČSOB bank reps have just released:

Good afternoon, we stand against the information from Minex Pay which announced that we signed a contract supposedly relating to their payment cards. This information is completely false. We didn’t make a deal with Minex Pay and we are not involved with them in any way.

What happened in reality is Minex will supposedly be working with the ČSOB bank through several intermediaries.

Here is the statement MinexPay has released following the ČSOB partnership denial:

Dear community, we have faced a misunderstanding regarding our relationship between MinexSystems and ČSOB bank. As you know, we have recently revealed the news that we have successfully signed a contract with the bank for our card project, MinexPay. However, the bank has posted a short statement denying this contract. We want to clarify this situation in this post.

Chain2pay company, registered in Estonia, has obtained licenses for working with cryptocurrencies. There is a valid contract between Chain2Pay and card program manager. At the same time, there is an agreement between the card program manager has a deal with the card issuer. Finally, the card issuer has a signed contract with the bank.

MinexSystems is working directly with the card program manager that is acting as a bridge between our company and the bank.

In this situation, the card program manager has announced the name of the bank. And here’s where the misunderstanding arises, as the bank has no information about the MinexPay trademark.

Currently, we are negotiating with the bank to clarify the situation.

In other words, here’s how the MinexPay prepaid debit cards will be set up:

MinexPay => 1) Chain2pay => 2) Card program manager => 3) Card Issuer => 4) ČSOB bank.

Let’s go over all the links of the chain:

1) Chain2pay is owned by MinexPay CEO, Borys Shulyayev

borys shulyayev minexpay ceo owns chain2pay
source: https://krediidiraportid.ee/borys-shulyayev

2) The card program manager has just been named on October 11th – it’s a company with a super-weird Twitter account:

novarise minex partner weird twitter

Novarise S.A. provides anonymous banking services, according to the description. This is the statement they’ve released:

The company’s main website seems down: http://www.novarisesecrecybanking.com

The website they have in their Twitter bio is https://abs-iaccount.com

3) Card issuer – this is an unknown link that has not been announced by MinexPay yet.

One of the Bitcointalk forum users (Devaien) has investigated these companies in this Bitcointalk thread (archive link) and came to interesting conclusions:

Okay abs-iaccount is linked to i-account. How do I know this? Simple, with a bit of research https://i.imgur.com/Cz2hyG7.png

Now both abs and i-account are linked to moneyplatform.  How do I know this? Simple, with a bit of research https://i.imgur.com/Cz2hyG7.png

Moneyplatform has also allot of partners How do I know this? Simple, with a bit of research https://i.imgur.com/bg1TQa8.png

Also here https://i.imgur.com/gO97WUq.png

So now we know that moneyplatfrom is a partner with Liri-holdings (https://www.liri-holdings.com/)

And now lets look at the partners of Liri-holdings. https://i.imgur.com/Va5wwcM.png
Owh wooow that is very very cool indeed.

Now lets compare the address of i-account and Liri-holdings shall we.

https://i.imgur.com/2Jhcx5J.png Owh cool it is the same.

Smiley

It is all linked as you can see, with proofs Smiley

We do not know whether the above information is true or not and have no way to check. Do your own research and invest at your own risk.

Once more details are available we will update this article.

Article last updated: 12 October 2018


The news is not bad in itself – Estonia is a crypto-friendly country and Minex did well having a branch there, however this again looks like a big PR miscalculation by Minex.

They’ve been pressured to reveal debit card release dates after delaying delivery, and announced “signing contract with ČSOB bank”  verbatim (1, 2,), which was an incorrect statement to start with. An incorrect public statement about a bank is a ticking PR bomb since banks take these things very seriously. Had Minex announced their suppliers chain at the beginning it would’ve looked way better.

In any cayse despite all the turbulence it seems that MinexPay is on their way to releasing a functional crypto debit card. Right now the simplest entry level card is under $10 so you might want to go ahead and order one.

Sign up and order your Minex card here

 

 

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