I wasn't talking about paying directly in BTC. That I already do it.
I am talking about paying fiat bills, and Relai to be the intermediary.
Not sure if you remember the old days of 2015 with Cashila, that was integrated into Mycelium wallet.
I was paying fiat bills, directly from my BTC wallet. Just providing the details.
Nowadays we have some, but not so many.
We had some plans to launch a Relai VISA or Mastercard card last year but we decided to focus on the savings aspect first. It could be something we can work on in the future though
Yes we do, but this will take more time.
This year, we are mainly focusing on winning our home turf Switzerland.
In 2025, once we have the MiCA-License, we will dedicate more resources into expanding into all the EU countries and potentially the UK.
In 2026, we will then start our global expansion, starting with the US and the Middle East, possibly including mergers and acquisitions with great already existing local companies.
The ambition to expand is in our DNA, but more time is needed! :)
If I understand correctly, every bitcoin purchase on Relai is on-chain transaction. Aren't you afraid that you lead customers into creating many small UTXOs which might be very impractical in the future high fees environment?
Thank you.
We are definitely aware of such a potential issue, it's true that at some point low amount orders can/will end up being dust. We are therefore working on the following solutions:
increase the minimum buy amount (currently 25 CHF/EUR)
updated the referral program not to send too small earnings to the user's wallet (only once user accumulated 10 CHF/EUR)
working on a solution to encourage users to consolidate: it's more tricky than it sounds as we have a lot of newbies as users
moving to lightning: we recently released our non-custodial lightning wallet and we'll keep improving from here on to also provide buy/sell orders to lightning directly
Just make all small transactions forcibly to Lightning. Only when the user wants to go on-chain, let him when he sees and agrees to the fee at that time.
I might be biased but I think in Switzerland people are very excited about bitcoin, both bottom-up (20% of people hold BTC) and top-down (regulators are very open about BTC).
Our users mostly come from Switzerland, Germany, Austria, Italy and France, and also Spain and Czech Republic seem to have high adoption rates from what I hear.
I think the Northern and Eastern European countries are in general still more passive, I wouldn't say pessimistic though, they just need more time! :)
Yes we are!
Our headquarter and holding company will always be in Zurich, but already now we are opening up a new office in Paris for our French license, which will turn into a MiCA-License in 2025.
Other hubs like Berlin, Vienna and Milano are starting to establish themselves, with first employees being hired in these important countries, at one point we could start satellite companies / offices there as well, why not? :)
Liebe Grüsse zurück!
Switzerland has a long tradition of being a country that is politically neutral and independent, with a very solid regulatory & legal system, coupled with a directly democtratic government. Swiss people have a culture of unparalleled work ethic, high quality standards, and trust/reliability. This enabled Switzerland to become a hub for the financial industry, especially banking & wealth management, also because it attracted a lot of rich people from Europe and the whole world. I think the intention of Swiss people and the government is for this reputation to prevail and be open to bitcoin, even our central bank is usually quite forward looking and I could imagine that they will be a first mover if a bitcoin standard or even hyperbitcoinization situation were to unfold in the future.
Thank you for the kind words, here are a few things that make Relai very special :)
Bitcoin-only (obviously)
the possibility to buy/sell without any KYC up to 1'000 CHF/day (and equivalent in EUR)
a non-custodial Bitcoin wallet integrated in the app to easily hold your sweet sats with peace of mind
In addition, we also offer services for HNWI and Businesses via Relai Private
We have also just launched our integrated Lightning wallet so you can stack sats on auto-invest to save BTC, and swap them into Lightning to spend BTC.
Our goal is to become the only bitcoin app you need on your phone, while staying bitcoin-only, self-custodially, and swiss-made.
There is no such thing out there, so this is what makes us different from typical broker firms.
Have you ever experienced a pressure from the no coiners who refused to buy at $20k and now they want you share with them your sats? E.g. "You got a lot of dollars, can you help me to acquire a new car" or "can your borrow me money? (with no intentions to give it back)"
Why do you require to open a new order from the app for every buy? Couldn't be easier to just match the code in the bank transaction's description? This would permit a faster utilization, just do a bank transaction with whatever amount I want, and I'm all set.
Your competitor has this.
Unfortunately I stopped using Relai for this exact reason.
We used to have it like that initially but this ended up creating more problems for our users. We would need to refund if a user forget the code or mistype it, that's why we request our users to create an order first.
What advantages and disadvantages come with the MiCA license? Is it hard to get the license? Do you see things going forward or backward in Europe? Have things reached a point of no-return already? What is the future of Bitcoin in Europe? Is MiCA the endpoint in terms of regulations?
We can serve all of Europe with our current license but are also applying for a French license currently to be ready for the new MiCA legislation that will come soon
You can buy and sell (to EUR or CHF) with Relai. The code is not open source but you can verify the 12 words generated from the app via any other wallet. You can also directly stack to an external wallet using the Relai wallet just to create orders
Last I used it, spreads were pretty large, will there ever be no spread? As far as I know, Strike, which is coming to Europe very soon, has no spreads anymore, and charges 0.99% instead. Relai has both.
Do you have plans to release a web version as well? If so, are you hiring frontend engineers 👀