Member Info for Moomins

Now it's up 4%. :)

https://www.theguardian.com/technology/2023/mar/30/vulkan-files-leak-reveals-putins-global-and-domestic-cyberwarfare-tactics?CMP=oth_b-aplnews_d-5

It's so disheartening that all the West can do is squabble, short, lie and put down every firm attempting to protect us all from this. It's about time we got real.

Bit saddened not to have it confirmed, but as you say, at least they're talking.
One thing is for certain, excepting for the tropics where water is bountiful, Australia won't be using electrolysers to produce H2. Therefore, DMG tech to simultaneously tackle the plastic issue has to be a major draw.
I'm a long term investor here, but haven't posted for a long time. GLA

"GS20 Exchange is currently in soft launch with a controlled group of retail account holders, as well as a select number of institutional participants."
It's been a soft laucnch since mid Nov 22. Imagine if the official launch comes along at the same time as FCA Sandbox approval. I'll be a happy bunny

The CFTC have sued Binance, the biggest crypto exchange in the world, for allegedly violating trading rules.
Is this an opportunity for GST's own regulated crypto exchange GS20 to step up? Something different to discuss :)

This is the same guy that thought GST was on AIM a couple of weeks ago. Laughable unsubstantiated attempt at FUD. Reported.

Well, at least we know they're not downsizing. :) Good spot Sienna

Yeah, I expect I am Billy. All the best.

If you look at the FCA comments in relation to previous cohorts of accepted companys it does appear that they favour certain types of applications at differing times. Here's two examples.

In June 2021 they stated: "we were interested in seeing more innovation and testing from firms developing businesses, products or services intended to: detect fraud and scams, support the financial resilience of vulnerable consumers
improve access to finance for small and medium-sized enterprises (SMEs).
In July 2020 they stated: "For cohort 6, we called out, for the first time, areas where we would like to see more innovation."

The examples are dated, but if the FCA are favouring certain types of application at differing times (depending on how they see the potential benefits to 'financial climate') then it could have contributed to the length of time it took to submit the application. Overall, the application is in and I doubt it doesn't meet the criteria. IMO, it just depends on the FCA and whether they want to accept it for testing now, or at another time.

Only the FCA know the answer to that. GST and their lawyers Pinsent Masons who spent months preparing the application obviously think they do meet the criteria. It's a waiting game.

There are 5 criteria that need to be met and the FCA give multiple examples of each. I know the criteria has been posted before, but I thought I'd do it in a way that shows how GST would meet the criteria against the examples provided by the FCA. IMO of course. :) . The 5 criteria are:
1. In scope. The relevant (to GST) example given: "A small tech company seeking to launch a payments service using Open Banking and aimed at UK customers." TICK.
2. Genuine Innovation. The relevant example given: A payments solution making use of stablecoins. TICK.
3. Consumer Benefit. The relevant example given: "A platform for low-cost, high-speed cross-border remittance." TICK
4. Readiness. The relevant example given: "A technology provider that is supporting a financial services firm and has secured the partners needed for the test." TICK
5. Need for Support. The relevant example given: "A test of a firm’s technology with live clients to determine if a novel payment method works in practice." TICK

Food for thought while we wait if nothing else.

If the applcation initially fails then I would expect GST will take heed of the reasons, fix and apply again.
GST already have 2 regulated authorised businesses. A crypto exchange and an FX exchange. If they can also obtain authorisation to offer regulated electronic money and payment activities specifically related to stablecoins, then this will be HUGE. It they don't get it first time then it won't be, as has been contended today, the end of the world. GST just won't be world changing.

Point to note from the RNS and what many others seem to be missing in relation to the FCA published applcation timescales.
"The Company's goal remains to be the first publicly quoted company to obtain an electronic money institution licence from the FCA to issue stablecoins and provide trusted stablecoin-based payments services to the UK market and beyond."
As far as I'm aware, but DYOR, this is the first such applcation of this kind and that needs to be taken into account before complaining about how long it's taking.

Pepesmint: That timeline for the application assessment comes from the FCA itself.
https://www.fca.org.uk/firms/innovation/regulatory-sandbox/apply

I'm disappointed too, but IMO and going by the previous applications, I'm afraid this is par for the course. The FCA don't have an SLA, just a guideline timescale.

@Roger65. GST has made two regulatory applictions so far. It's got both of them and each business is operating. This is the third and most important to add the payments service. They have never failed to deliver, but unfortunately many investers just aren't prepared to be patient and wait for regulator affirmations. Luckily for me, that impatience has allowed me to accumulate more shares than I could ever have dreamed of.
If you DYOR and look at what they are attemtping to do, see how close they are to achieving it, and understand how confident they must be in their technology to employ Pinsett Mason to submit the application, you might change your mind.

Over 9 million shares bought in the last 30 mins. Only 257 sold. Turn around coming :)

There's a general rout of financial stocks again today. Just seen PRU is down over 10%. Rough day !!

Regulator approvals have taken longer than their own advertised time scales in every step taken. Patience has been required from investors while regulator approvals were gained for Angra and Glindala, but they have always been achieved. This isn't any different or anything to be worried about. There's no way PM would have submitted the application if they thought it wouldn't even pass the paper sift. Just wait. It'll come.

If there is to be another BTC rally then it should be good for GST's authorised crypto exchange, GS20. It's still realy days for GS20, but it's yet another promising revenus stream that took time to obtain regulatory approval I'm gonna stick my neck out and say Thursday for the initial FCA Sandbox rns. Thursdays are always popular. GLA :)