Leondra GmbH – licensee of the Leondrino Exchange in Germany – launches “Restricted Trade Mode” and announces application for a multilateral trading licence for digital enterprise currencies.
BERLIN, 19th December 2018 – The company Leondra GmbH, licensee of the Leondrino Exchange in Germany, is preparing to apply for a multilateral trading facility licence for digital currencies.
Founded in Berlin in 2013, Leondra GmbH is a pioneer in digital currencies. The name Leondrino stands for a new class of digital currencies focused on companies. Additionally, the standardisation of the life cycle of these currencies – from the phased introduction of coupon-like tokens through to trade approval of enterprise currencies – is intended to establish a quality standard for these new digital enterprise currencies. In essence, a reserve-based approach of monetary supply in conjunction with an acceptance obligation is implemented by the respective brand or brand company associated with the currency. The aim here is to establish relatively stable enterprise currencies in the medium term and thus high acceptance of exchange for products and services offered by the associated companies.
“The functionality of a restricted one-way trade option between token class C Leondrino and Ether activated beginning of this week brings us closer to the limits of what we can implement in the German market without a permission.” says Sandra Leonie Ritter, CEO of Leondra GmbH. “For additional functions in the context of the life cycle of Leondrino, which our first corporate customers are emphatically demanding, we need licences or a permit from the BaFin – in particular, a multilateral trading facility licence for the medium-term, for which we are currently preparing an application.”
Alongside the development of an efficient platform, including the Leondrino Wallet and a proprietary exchange as well as interfaces to external wallets and exchanges, Leondrino GmbH is also currently in the process of establishing the prerequisites required to apply for a multilateral trading facility licence. In addition to the examination of strategic partnerships, efforts are also being made to establish a better financial basis for the still young company via a capital increase in order to meet the BaFin’s high requirements for issuing a licence.
About Leondra GmbH
The core Leondrino concept – of using reserve-based, digital currencies to enable companies to establish more efficient customer relations and to create a third pillar for corporate financing – was already brought to life in 2011 by co-founder Peter Reuschel in Mannheim during the development originally pursued by the company founders of a platform for musicians and bands. Due to the insufficient turnover generated by the platform marketed at that point under ‘Leondra music’, Peter Reuschel came up with an idea based on the first-generation blockchain development at the time, which was still in its infancy, to use tokenisation of the fan relationship to build up digital currencies for new communities in stages, and thus to reward early supporters via so-called ‘airdrops’.
After receiving positive feedback on the ‘Lеondrino feature’ of the Leondra music Business Platform from potential investors in the USA, at the end of 2014, the topic of a currency management service for companies was spun off in the form of Leondrino Exchange, Inc. with its head office in New York. Since 2013, the founding team has been pursuing modern concepts such as positive money and reserve-based control of the money supply to reduce volatility, and tested various technology platforms which can be used to support efficient competition of private currencies via high performance and low transaction costs.
The pilots for the Leondrino business concept in Germany are conducted via Leondra GmbH, which has a licence to use the software from Leondrino Exchange, Inc. Leondra GmbH is pursuing a corporate strategy in the German market that strongly emphasises partnerships and the development of a comprehensive ecosystem for Leondrino. Leondra GmbH is a member of BITKOM and supported a study on blockchain technology in Germany in 2018 that was presented at a press conference beginning of December in Nuremberg. See also https://www.bitkom.org/Themen/Technologien-Software/Blockchain/Blockchain-Tech-in-Deutschland.html
About Licensor Leondrino Exchange Inc.
Leondrino Exchange Inc. is a fintech startup with its origin in Berlin, which was founded in November 2014 as a Delaware Company with its head office in New York. The goal of the Leondrino Exchange is to become the most trusted issuer and administrator of digital branded currencies for enterprises.
Sandra Leonie Ritter, Peter Reuschel
Licensee of Leondrino Exchange Germany
+49 30 – 577 026 880
If you have any queries about this announcement and Leondrino or are interested in an interview with Herr Reuschel and/or Frau Ritter, please get in contact via the telephone number listed above or submit your query in writing by email to the email address listed above.