M2's CEO Addresses Strategic Queries About the Exchange in Telegram AMA Session...What Did He Say?

In an engaging Live Telegram Ask Me Anything (AMA) session held on January 17th, M2's CEO, Stefan Kimmel, provided valuable insights into the strategic vision and future plans of M2, addressing queries from the community.

Several topics were brought up:

Building Liquidity and Expanding Cryptocurrency Support

Responding to concerns about the exchange's liquidity, Kimmel emphasized that despite the current modest trading volume, M2 is focused on building a robust user base. In fact, market makers have contributed to decent liquidity, supporting over 30 cryptocurrencies, with plans to expand significantly in the first quarter of 2024. The selection process prioritizes credible assets to ensure the platform's integrity and user trust.

He commented, "While you don’t see a lot of trading volume on the platform so far, don’t forget we are at the beginning of building up our user base. Liquidity and user spreads are still decent because of the market makers we’ve onboarded."

He continued, "As a regulated platform, we just need to make sure that our selection process is rock solid, focusing on credible and substantial assets, which is key for maintaining the integrity of our platform and the trust of our users."

Age Restrictions and Regulatory Compliance

Addressing questions about the platform's age restriction, Kimmel clarified that compliance with regulatory instructions is paramount for M2.

The age limit, set to protect younger users, aligns with the platform's commitment to being a regulated crypto investment platform.

Differentiation and Security Measures

When questioned about M2's differentiation, Kimmel highlighted two key aspects: market-leading yields of up to 10.5% on BTC and ETH through Earn plans and the platform's full regulatory compliance, ensuring maximum security and transparency for users.

"The bottom line is high yields on a secure platform," he mentioned.

Strategies for Increasing Volume and Adoption

To tackle the low trading volume, Kimmel revealed that M2 has prioritized platform robustness and scalability, incorporating user feedback.

Marketing efforts are set to ramp up from mid-January, targeting increased user acquisition and trading volumes.

Futures Trading, App Launch, and On/Off-Ramp Feature

The integration of futures trading is well underway and expected to go live at the end of February. The iOS app is set to be available on the App Store in the UAE from this week, with plans to expand to other countries.

Kimmel also explained that the eagerly awaited on/off-ramp feature is in its final stages, awaiting the last approvals.

High Yields and Future Product Roadmap

Kimmel addressed concerns about the high yields, attributing them to bitcoin mining and the forthcoming lending product. He expressed excitement about upcoming features such as the M2 Crypto payment card, crypto loans, OTC desk, futures trading, and referral bonuses, expected to roll out as soon as Q1.

He said, "Our main source of generating yield for the earn plans is through our bitcoin mining. We can do that based on our strategic partnership with Phoenix Group and the network we’ve built with miners around the world. The second avenue for yield generation is our lending product. So far this is live only for institutional customers but will be available to everyone by the end of Q1."

In conclusion, Kimmel expressed enthusiasm about the collaborative engagement and open communication demonstrated during the AMA.

Such interactions, he emphasized, are invaluable for fostering transparency and building a strong relationship with the community.