00:00You decided to start a currency exchange business without charging a fee?
00:04You can call it currency exchange business, yes, at Interbank Crate without charging a fee, correct.
00:10You didn't go out and build a physical bank, you did it all online, is that right?
00:14Exactly, yeah.
00:15So how did you get people to know about this service? Did you start advertising online?
00:19Funny thing, we didn't spend any single marketing for the first five to seven years for being an operation.
00:24It was all word of mouth.
00:26So I remember when I finally launched the product, it was summer 2015, and I physically was selling my product
00:37to friends, family, even people I don't know.
00:41How long does it take to get a U.S. banking license?
00:44Right now it should take, I would say, up to 12 months, but again, it depends.
00:49So official target is four months, but then there are multiple steps involved. It can be longer.
00:54Are you confident that you can get a banking license in the United States, or do you think you'll get
01:00it?
01:00I think it's obviously much easier for us, given the new administration, plus that we have so many other banking
01:06licenses, plus we have a banking license in UK now.
01:09So for us, it became much easier compared to two years ago.
01:12So in the United States, what do you hope to be able to do with your banking license if you
01:17get it?
01:17What is the market gap that you think you can fill that maybe others aren't doing?
01:23So basically, I mentioned already our retail business.
01:25So it's one simple app where you can do everything what you need for your financial life.
01:31And then second direction, we also provide the Revolute business accounts for businesses.
01:35And again, it's end-to-end services that you need to run your business.
01:39So payments, banking, credit will come as well, wealth management or treasury, we call it treasury.
01:45And then acquiring as well.
01:47So for example, right now, if I'm an American company, I'll need to stop, say, Stripe for acquiring, then J
01:53.P. Morgan for my business banking,
01:56then, you know, something else for payouts, something else for payroll.
02:00So we provide all the services in one product.
02:03So let's get started.
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