STK and the Road Ahead
STK and the Road Ahead
It has been a busy and exciting year thus far for our partners at STK. Recently they’ve announced some adjustments to their roadmap and provided details about what has been occurring behind the scenes with their team. In order to address any concerns and shed light on what the team has been up to, their CEO, Miro Pavletic, took time to field questions from the community during a YouTube live stream.
In terms of the roadmap, the team announced that the Canadian fiat pilot launch had been moved to April of this year, with the beta crypto launch following shortly in May. Additionally, the US beta launch of fiat and crypto will now take place during November of this year. As you can imagine, such delays raised questions amongst the community. Miro explained that the shift in the roadmap was to ensure a flawless launch in all regions moving forward, as well as to allow the team some time to onboard a massive number of new customers. He emphasized that they believed it imperative that the Canadian execution was done perfectly in order to avoid mistakes when launching in other regions.
It was also announced previously that the team had partnered with i2c, a platform that will power payment functionality within the STACK app, allowing the app or card to be used anywhere that MasterCard is accepted. Miro explained that implementing i2c also allows the team to greatly expand the breadth of their solution, as it is a global processor, meaning the team will not need to investigate processors on a region-by-region basis as their platform expands globally, which will save them time in the future.
After answering some additional questions, Miro gifted the community with a sneak peek of the STACK app from his own phone. Showing off a sleek user interface, he gave us a brief glimpse of how some of the features were laid out and functioned on the app. This included a world screen, which is a stream of real-time offers and rewards in combination with user-generated content that could be attached to transactions, a payment screen, where Miro was able to effortlessly switch between payment methods merely by swiping (the wallet supports up to 10 currencies), a “you screen” which displays all of your transactions, and the “goals screen”.
The goals screen represents their automatic savings features, where it is possible for a user to create their own financial goals, and implement saving methods such as rounding up transactions to the nearest whole amount and depositing the difference into their high-interest savings account. He emphasized that because STACK is a replacement for a traditional bank account, it will be possible to run payroll, pay bills, access cash from an ATM, engage in peer-to-peer transactions, and do contactless payments, all without the hassles or fees that come with a traditional bank.
Moving forward, Miro explained, the team would like to continue to be as transparent as possible with the community supporting their project. However, because they do have an underlying financial services business, this can sometimes limit transparency. On the flip side, their willingness to play by the rules and their welcoming attitude towards regulatory oversight assures a certain longevity that is visibly absent with most crypto-related projects. With a looming announcement of fresh partnerships coming within a week, the year ahead is rife with reasons to be giddy about this project. It has been an absolute pleasure to work with the STK team, and we cannot wait for what they have in store for the world in the future.