Exclusive Interview | Coin Gabbar Co-founder Sudeep Saxena x Tectum CTO Alexander Guseff | #crypto

Summary

In an insightful interview at the Crypto Polo Club, Sudhi from Coin Gabbert speaks with Alex from Tactim about the future of wallet management in the crypto ecosystem. Tactim’s latest innovation, SOPn, is a global wealth management platform designed for seamless crypto-to-fiat conversions. The conversation covers the platform’s security features, including self-custody and third-party custodianship, and its low-fee structure aimed at disrupting traditional financial systems. With a rapidly growing user base and plans for global integration, Tactim is paving the way for crypto adoption, offering users a cash-like experience in the digital currency world.

Takeaways

• 😀 Wallet management solutions are evolving to make crypto feel like cash, offering both custodial and self-custodial options for added security.
• 🔒 Security is a primary focus, with two approaches: self-custodial wallets using passcodes for encryption and third-party custodial partnerships like XRP for secure fund management.
• 🌍 The platform is aiming for global adoption by focusing on seamless crypto-fiat conversions and tackling regulations across multiple geographies, including the US, Europe, and the UAE.
• 💼 User adoption is growing, with over 100,000 KYC-verified users and nearly 2 million soft nodes in the system, reflecting a large and expanding user base.
• 💰 The system allows users to treat cryptocurrency like cash, with simple and secure management through a passcode, making it easy for both crypto enthusiasts and newcomers.
• 🔧 The company is continuously working on improving its security and developing partnerships with major players to enhance its platform's credibility and stability.
• 💡 Feedback from users indicates that the platform is seen as a revolutionary tool for managing digital assets, with simple features that reduce reliance on traditional banking.
• 🚀 The company is focused on strategic integrations and partnerships to expand its reach, including connecting to other wallets and networks and adding support for over 70 cryptocurrencies.
• 🌐 The platform is designed to facilitate cross-border transactions without high gas fees, allowing seamless movement of assets between users without network constraints.
• 📉 The company is working towards creating a Swiss entity to navigate licensing requirements and develop a self-regulated organization, ensuring compliance while focusing on transport services rather than traditional banking.

Q & A

What is the core concept of Tactim's wallet management system?

Tactim's wallet management system aims to facilitate both crypto and fiat currency transactions, enabling seamless crypto-to-fiat conversions with a focus on security, user-friendly interfaces, and scalability.

How does Tactim ensure the security of users' funds?

Tactim employs two security approaches: self-custodial wallets that use a passcode to encrypt crypto keys, and third-party custodial services that provide additional protection for funds.

What is the difference between the self-custodial wallet and the third-party custodial service offered by Tactim?

The self-custodial wallet is controlled by the user, with funds secured by a passcode, while the third-party custodial service involves external companies holding and protecting funds on behalf of the user, with access granted upon entering the passcode.

How many users have currently adopted Tactim’s platform?

Tactim has over 100k identified users in its centralized platform and nearly 2 million soft nodes in total, reflecting a strong user base.

What are Tactim’s plans for expanding its network and services?

Tactim is focusing on increasing integrations and partnerships with other wallets and crypto networks. This will help expand its reach, offering support for over 70 cryptocurrencies and enabling millions of users to join the platform.

How does Tactim approach global regulatory concerns in different countries?

Tactim addresses regulatory concerns by positioning itself as a digital value transport service rather than a traditional bank, and is actively working on securing licenses in various regions, including Switzerland.

How does Tactim’s transaction fee model compare to traditional banking services?

Tactim charges much lower transaction fees compared to traditional banks, with a focus on affordability and efficiency for crypto transactions. Their fees are significantly smaller than the 2% typically charged by banks.

What are the key security features of Tactim's wallet system?

Tactim’s wallet system uses a passcode to protect crypto keys, making it secure even if someone physically steals the wallet. This ensures that without the passcode, the funds remain inaccessible.

What benefits does Tactim's wallet provide over traditional cash transactions?

Tactim’s wallet functions like cash, allowing for easy crypto transactions with no gas fees when transferring between users. This makes it convenient, secure, and cost-effective, similar to using physical currency.

What role will XRP play in Tactim's ecosystem?

XRP is expected to be a partner within Tactim’s ecosystem, contributing to its development and enhancing the platform’s ability to handle transactions involving cryptocurrencies efficiently.