AIS-X leads the way to bring blockchain to Mongolia


AIS-X is an exchange that offers more than just a cryptocurrency trading service. The Japanese founders of AIS, Mr. Takigawa and Mr. Kondo, focused their attention on the future expansion of the use of cryptocurrency and blockchains, as well as the growth of the Mongolian economy, and they made the most of their excellent network of connections in Mongolia to start the AIS business.

Today the company made huge moves by announcing a partnership with The National Investment Bank of Mongolia.

NI BANK received the award of Fastest Growing Customer Service in Mongolia from the Mongolian Bankers Association, and in 2015, it received the Fastest Growing Corporate Bank in Mongolia award from the Global Banking and Financial Review.

The bigger picture

As of now, AIS-X made a couple of high profile partnerships with financial institutions in Mongolia that will allow the following:

  • Make deposits and withdrawals from all around the world
  • Buy and sell securities all around the world and trade using the AIS-X token.
  • Receive loans through cryptocurrency as collateral.

Through the partnership with NI BANK, AIS-Xs clients will be able to make deposits and withdrawals in legal tender from all around the world, and the option of managing fixed-term deposits with high interest (e.g. USD, EUR, MNT, CNY, JPY) will be provided.

Also, by making it possible to issue NI BANK debit cards, AIS-X will strive to further enhance customer convenience when making withdrawals.

It doesn’t end with one single partnership..

The 2nd financial institution is National Securities. National Securities is a securities company that holds a full license enabling it to be the lead manager for an IPO.

Through the partnership with National Securities, AIS-Xs clients will be able to buy and sell securities around the world. Looking ahead, there are plans for a securities trading service where AIS-X exchange tokens are used directly.

The 3rd partnership is Express Finance Service. EFS is an institution that conducts loan operations. Through the partnership with EFS, AIS-Xs clients will be able to receive loans in cryptocurrency and legal tender, using cryptocurrency as collateral.

By making use of such loans, clients will no longer need to sell the cryptocurrency in their possession in situations where funds are required, releasing them from the tax risk involved at the time of selling.

AIS-X also offers an AI Concierge service, where AI analyzes the behavioral characteristics of users and provides investment advice best suited to each users individual character. The strength of AIS is that, through this technology, it can attract beginners and other users who are not good at making investments.

At AIS-X, exchange tokens called AIS are issued. In addition to the integrated financial service, it also operates two types of mining businesses (Double Mining), and the system is that part of the profits from these businesses is distributed to holders of AIS tokens.

The 1st mining business is cryptocurrency mining. Mongolia’s electricity costs are low compared to many countries and combined with a cold climate, it is a country ideally suited to cryptocurrency mining. AIS-X has specially customized Baikals mining machines, enabling mining to be conducted at rates of maximum efficiency.

The second mining business revolves around resources.┬áMongolia has abundant underground resources, and there are reserves of rare metals that are vital to industry, such as gold, silver, and molybdenum. AIS-X is negotiating a partnership with Mongolia’s largest mining company Sharyn Gol JSC, and it will be involved in resource mining projects through direct investment.

Could Mongolia be the next Bitcoin hub for business and mining-related operations? We’ll know shortly! Subscribe to stay updated!

 


Like it? Share with your friends!

Wilson

Wilson is a 3x Startup Entrepreneur. He is passionate about the cryptocurrency space. You can catch him tweeting about cryptocurrency often @itswilson8 You can also email Wilson directly at wilson@cryptomenow.com

You may also like