SIFR.COM Crypto Exchange & Banking - Scam or real???

Bank Accounts, Company Formations, Tax Planning, Residency Solutions, and more
CALL US ON +971 50 4467827 - TO SETUP YOUR NON-CRS COMPANY STRUCTURE IN DUBAI.

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
@menzu I noticed you have been pushing your offering hard since joining forum around 48hrs ago. Can you help with answers to the following questions.

1. In which country is your company located, what is its name and legal form it takes?
2. Is your companies activity regulated and if so by which regulator?
3. Where is your actual place of operation?
4. How long have you been in operation?
5. Which countries do the directors and beneficial owners reside in?

If you wish to volunteer some more information please do so.

Thanks and have a nice day thu&¤#
 

menzu

CEO - Sifr.com
@menzu I noticed you have been pushing your offering hard since joining forum around 48hrs ago. Can you help with answers to the following questions.

1. In which country is your company located, what is its name and legal form it takes?
2. Is your companies activity regulated and if so by which regulator?
3. Where is your actual place of operation?
4. How long have you been in operation?
5. Which countries do the directors and beneficial owners reside in?

If you wish to volunteer some more information please do so.

Thanks and have a nice day thu&¤#

I’ve initially join the forum to reply to OP’s questions and other members of this thread.

I wanted to make a presentation of the service but unsure where yet.

Now to answer your questions;

- Sifr / SIFR LLC is a US Delaware registered company, see : Sifr Exchange | Commission-Free Bitcoin Trading

- Sifr is a tech company, Banking services are offered by Evolve Bank & Trust (USA), Member FDIC (USD held in bank accounts are protected, belong to customers) — Crypro services are in collaboration with ZeroHash, a fully licensed US Money Transmitter company (that’s the protection for crypto holdings).

- Place of operation, office, directors and everything is based in the US.


That being said, I’ll reply to other users in a few hours.
 

JohnnyDoe

Schrödinger's guy
Mentor Group Gold
Is it a joint venture with @JohnnyDoe ?


mind to share an address, is it real office or all is just a shelf with no substance ?
rof/% I was going to ask @menzu if he wanted to discuss a jv

@menzu I noticed you have been pushing your offering hard since joining forum around 48hrs ago. Can you help with answers to the following questions.

1. In which country is your company located, what is its name and legal form it takes?
2. Is your companies activity regulated and if so by which regulator?
3. Where is your actual place of operation?
4. How long have you been in operation?
5. Which countries do the directors and beneficial owners reside in?

If you wish to volunteer some more information please do so.

Thanks and have a nice day thu&¤#
Same questions asked by banks’ monkeys, make sure you are not infected with monkey pod rof/%
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
- Sifr / SIFR LLC is a US Delaware registered company, see : Sifr Exchange | Commission-Free Bitcoin Trading

- Sifr is a tech company, Banking services are offered by Evolve Bank & Trust (USA), Member FDIC (USD held in bank accounts are protected, belong to customers) — Crypro services are in collaboration with ZeroHash, a fully licensed US Money Transmitter company (that’s the protection for crypto holdings).

- Place of operation, office, directors and everything is based in the US.

So which one are you then from New Jersey by way of Algeria? Or is neither of these two people involved in your LLC? Please confirm for the record please ;).

Meziane Allali
Lyes Bensaadi
 

menzu

CEO - Sifr.com
Is it a joint venture with @JohnnyDoe ?


mind to share an address, is it real office or all is just a shelf with no substance ?

Not a joint venture with @JohnnyDoe, I have joined this forum after a user asked questions about our platform and found out when working on our SEO efforts.

We don't have a fancy office, we are a startup and our expenses are extremely optimized, we rent a wework office style when needed but we work remote mostly, +50 % of the team prefer working at night anyway.

If you are around US East Side and want to meet and see what we're building, find my contacts in my signature.

rof/% I was going to ask @menzu if he wanted to discuss a jv

You have my contact details in signature.
 
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Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
Notice how he deliberately ignored answering what I posted ;)

I let you folks work that one out for yourself.....lol. Be very careful folks and exercise extreme caution. Don't say I didn't warn you.
 

Ridden3328

BANNED MEMBER
Somebody claims they got scammed on trustpilot: ryan gave Sifr 1 star. Check out the full review...


also I verified my account it was pretty fast. I think the exchange's liquidity provided by other exchange. Their social media accounts are inactive too

As I understand the site runs like 3 years but somehow it's still inactive I curious why

I would like to hear answers with @Martin Everson 's questions.
 
Last edited by a moderator:

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
If you see the list of countries they claim they support for banking Including high risk countries like Venezuela, Pakistan and Nigeria I am very suspicious if Evolve Bank & Trust allows this even for their vAccounts ca#"!.

He has still not answered my question also.


------ quote start

We are currently able to onboard residents of the following countries for Sifr Banking:

  • ALGERIA
  • ARGENTINA
  • AUSTRALIA
  • AUSTRIA
  • BAHRAIN
  • BANGLADESH
  • BELGIUM
  • BRAZIL
  • CANADA
  • CHILE
  • CHINA
  • COLOMBIA
  • COSTA RICA
  • CZECH REPUBLIC
  • DENMARK
  • ECUADOR
  • EGYPT
  • EL SALVADOR
  • FINLAND
  • FRANCE
  • GEORGIA
  • GERMANY
  • GHANA
  • HONG KONG
  • ICELAND
  • INDIA
  • INDONESIA
  • IRELAND
  • ISRAEL
  • ITALY
  • JAPAN
  • JORDAN
  • KUWAIT
  • LEBANON
  • LUXEMBOURG
  • MALAYSIA
  • MALTA
  • MEXICO
  • NETHERLANDS
  • NEW ZEALAND
  • NIGERIA
  • NORWAY
  • OMAN
  • PAKISTAN
  • PERU
  • PHILIPPINES
  • POLAND
  • PORTUGAL
  • QATAR
  • ROMANIA
  • SAUDI ARABIA
  • SINGAPORE
  • SLOVAKIA
  • SOUTH AFRICA
  • SPAIN
  • SWEDEN
  • SWITZERLAND
  • TAIWAN, PROVINCE OF CHINA
  • THAILAND
  • TURKEY
  • UKRAINE
  • UNITED ARAB EMIRATES
  • UNITED KINGDOM
  • UNITED STATES
  • VENEZUELA
  • VIETNAM

---- quote end
 

menzu

CEO - Sifr.com
If you see the list of countries they claim they support for banking Including high risk countries like Venezuela, Pakistan and Nigeria I am very suspicious if Evolve Bank & Trust allows this even for their vAccounts ca#"!.

He has still not answered my question also.


Hey Martin,

Which question have I missed answering you ? will go over this thread and review your replies.

Venezuela, Pakistan, Nigeria and all the countries we support are approved by the sponsoring bank - whenever a customer enroll with us, we forward everything to the bank to make their own KYC/AML assessment.

US fintech are different from EU EMIs : an EMI in Europe has access to the country central bank, for example Paysera has access to Lithuania central bank system - in the US, we need a national bank (private company) to sponsor a fintech bank, for example : Revolut run on top of Metropolitan Commercial Bank, Sifr, Wise, Mercury run on top of Evolve Bank and Trust.

EU EMIs are liable directly in term of KYC/AML failures, MisterTango has a bunch of fines from bank of lithuania.
US EMIs and their sponsoring bank are liable altogether, so we have to run our own KYC/AML, if passed and passed to the bank, they will run their own KYC/AML.

We are proud to offer banking and crypto services to emerging countries where innovators can compete on the global scale and where smart people can have a change to hedge against inflation and financial collapses.

Somebody claims they got scammed on trustpilot: ryan gave Sifr 1 star. Check out the full review...


also I verified my account it was pretty fast. I think the exchange's liquidity provided by other exchange. Their social media accounts are inactive too

As I understand the site runs like 3 years but somehow it's still inactive I curious why

I would like to hear answers with @Martin Everson 's questions.

Thank you, our service has been running for a few months, we were in beta (no live trading or deposits) for a few years, we have a few competitors trying to tarnish our reputation before we go live.

Thank you for this link, I will see with Trustpilot how to mitigate it.

So which one are you then from New Jersey by way.

Meziane Allali
That would be me.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
That would be me.

Correct answer M.A ;).

Ok please speak to @James Spader as you said you wanted to do a presentation on your service earlier on. Please don't re-use that other terrible presentation on vimeo either. You can look at how The Kingdom Bank and others did theirs for example.

Have a nice day.
 

Tr0nad0r

Active Member
Banking doesn't seem to be enabled yet.

You are enrolled in Sifr Banking.


We are currently performing the final tests with our banking provider. We will email you a notification as soon as your banking dashboard is ready.

There is a way to know if I passed the KYC from Evolve?
 

Ridden3328

BANNED MEMBER
@menzu
I sent mail to Evolve Bank & Trust and I got this responses

Thank you for contacting Evolve Bank & Trust. Evolve has several Platform partnerships that provide financial services including SIFR.
Then I got this response:
Thank you for contacting Evolve Bank & Trust. Evolve has several Platform partnerships that provide financial services. I apologize for the prior response, we currently do not have a current active partnership with SIFR.
 
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Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
Well that is pretty damning then. So they do/did have a partnership but it is no long active they are saying?

@menzu Your relationship with Evolve got terminated? ns2
 

menzu

CEO - Sifr.com
@menzu
I sent mail to Evolve Bank & Trust and I got this responses


Then I got this response:


Hello, thank you for reaching out via Telegram directly and gave us the opportunity to give you more insights, I will re-explain publicly underneath how US neobanks work and why you might have gotten that reply.

Well that is pretty damning then. So they do/did have a partnership but it is no long active they are saying?

@menzu Your relationship with Evolve got terminated? ns2

No.

Let's dig a bit into this :

Unlike EU, UK and other small country EMIs, access to banking and financial tools is directly made availble through the central bank, taking an example of Zen com ( the latest name I saw on this forum ) is supervised by the central bank of Lithuania.

In the US, a fintech bank relies on a US national bank, The Bancorp Bank is one of the first to sponsor Paypal, Chime and more.
Other banks followed this trend, as an extra stream of income can't be ignored, however dealing with tech companies demanding new features and building on new stakes is impossible for a traditional institution to keep up.

Came the middlemen, technology companies partnering the banks on one side, and providing top API tech, support and features to startups on the other, they plug KYC, AML, Reporting, Taxation and everything in their central "SaaS" and sell it to startups, who can go to market in weeks, some of these vendors are SynapseFi, Rizemoney, Modern Treasury etc.

Long story short, a startup doesn't directly partner with a bank, maybe on a future or larger scale but mostly partner with Banking As a Service Sellers (the middleman) and the banks lease their technology and right to issue accounts, access to ACH and Fedwire networks, with Visa and Mastercard partnerships.


In our specific case, our accounts are issued by Evolve Bank and Trust, we work with them as I described most startups do.
You will probably have the same response if you ask about another startup, lookup "account is provided by Evolve Bank & Trust" and you will find a bunch of apps.

Banking doesn't seem to be enabled yet.



There is a way to know if I passed the KYC from Evolve?


Hi there,

You have not passed a KYC with any other entity unless you start the banking onboarding flow.

We have been sending a batch of emails on daily basis for the last week and a half asking customers who were enrolled to test the service and report bugs, we fix them day and night (hence the reason I have been offline on the forum for a few days).

Please feel free to message me on Telegram or WhatsApp if you have any question on your account.

I look forward to having you try our service.
 

Tr0nad0r

Active Member
Hi there,

You have not passed a KYC with any other entity unless you start the banking onboarding flow.

We have been sending a batch of emails on daily basis for the last week and a half asking customers who were enrolled to test the service and report bugs, we fix them day and night (hence the reason I have been offline on the forum for a few days).

Please feel free to message me on Telegram or WhatsApp if you have any question on your account.

I look forward to having you try our service.

Thank you very much, I haven't received the email for banking onboarding yet but I'm happy to report bugs after finishing the enrollment.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
Let's dig a bit into this :

Unlike EU, UK and other small country EMIs, access to banking and financial tools is directly made availble through the central bank, taking an example of Zen com ( the latest name I saw on this forum ) is supervised by the central bank of Lithuania.

In the US, a fintech bank relies on a US national bank, The Bancorp Bank is one of the first to sponsor Paypal, Chime and more.
Other banks followed this trend, as an extra stream of income can't be ignored, however dealing with tech companies demanding new features and building on new stakes is impossible for a traditional institution to keep up.

Came the middlemen, technology companies partnering the banks on one side, and providing top API tech, support and features to startups on the other, they plug KYC, AML, Reporting, Taxation and everything in their central "SaaS" and sell it to startups, who can go to market in weeks, some of these vendors are SynapseFi, Rizemoney, Modern Treasury etc.

Long story short, a startup doesn't directly partner with a bank, maybe on a future or larger scale but mostly partner with Banking As a Service Sellers (the middleman) and the banks lease their technology and right to issue accounts, access to ACH and Fedwire networks, with Visa and Mastercard partnerships.


In our specific case, our accounts are issued by Evolve Bank and Trust, we work with them as I described most startups do.
You will probably have the same response if you ask about another startup, lookup "account is provided by Evolve Bank & Trust" and you will find a bunch of apps.

So which middlemen do you partner with to get access to Evolve bank? Please give name?

Long winded explanation are not needed just tell facts and give names.
 
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