PALLADIUM ICCO • 2
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TABLE OF CONTENTS
EXECUTIVE SUMMARY
INVESTMENT CASE HIGHLIGHTS
Innovation and Regulation
Leadership with a Prodigious Record
Direct Participation and Investment Protection
OUR PEOPLE
TOKENIZED EQUITY WARRANTS
PROBLEM
SOLUTION
Design as Solution, Solution as Design
System's Architecture
Three Fundamental Elements
Technological Implementation
BUSINESS PLAN
Revenue Model - The Basics
Bank
Exchange
ICCO Timeline and Project's Milestones
Token Allocations
THE FUTURE OF FINANCE
Payments: Instant, Safe and in the Currency of Your Choice
World’s First Crowd-Funded Technology VC Fund
Real Estate (Asset Backed) Crypto Security Offerings
Investments (Crypto Funds)
Insurance (Life Insurance on Blockchain)
Crypto Deposit Insurance
Crypto Loans (with Interest Payments in Crypto)
Institutional Crypto Custody
Institutional Crypto Trading
SUBSCRIBING TO THE ICCO
TERMS AND CONDITIONS
3
4
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PALLADIUM ICCO • 3
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Cryptocurrencies are a $300bn market despite still
facing their most signicant limiting obstacle. Since
the early days, a lack of reliable at liquidity prevents
widespread usage, acceptance and adoption of
cryptocurrencies.
Palladium was established with a plan to create
unprecedented crypto--to-at liquidity and ease of use in
Europe to become a contender as the face of the world’s
future consumer economy.
Palladium’s system will be built on a blockchain
architecture that will introduce a combination of
functionality, security, accessibility, and regulatory
unmatched by prior nancial systems. Blockchains
advances in ntech will almost certainly end similarly to
the battle between e-commerce and brick-and-mortar
shops.
As the rate of technological improvement and innovation
accelerates, hyperbole is commonplace. The expectation
that a technology will be fundamentally world-changing
rarely comes to fruition. However, Blockchain has
already demonstrated it is likely to be an exception.
Palladium’s plan is designed to bridge traditional banking
and cryptocurrencies to provide a regulation-compliant
source of at liquidity, securitizing cryptocurrencies
through a strong regulatory framework. Since this is not
a standard utility token offering, we are giving investors
the opportunity to convert their participation into equity
in Palladium.
Built around a clearing and settlement platform,
Palladium has expansive applications beyond crypto/
at banking solutions. This is a chance to change
nance permanently and a historic opportunity for those
who choose to join us.
Our approach to banking and crypto is the result of
collaboration between accomplished nance and
technology veterans with a knack for utilizing novel
applications of cutting edge technologies to solve
difcult problems. Only Palladium has the plan, the
experience, and the vision to merge traditional banking
and crypto while complying with all relevant European
Union regulations.
That is why we can state condently that Palladium
could become the face of cryptocurrency, and therefore
the face of consumer commerce, across Europe.
Revolutionary Blockchain Platform
First-ever Blockchain clearing and settlement platform integrating
traditional banking and crypto accounts to radically change
payments and nancial transactions. Customers could make
instantaneous payments using the currency or asset of their
choice while effecting payment in the currency demanded, all with
the ease of a single interface
Direct Investor Participation
Investors to have direct participation in company’s growth
Successful, Existing Operations
Palladium’s extended group runs successful
operations in insurance, blockchain, asset
management, payment services
and technology.
Convertible Warrant
Tokens are equity warrants regulated by a European directive
prospectus under approval by the Malta Financial Services
Authority (MFSA)
ICCO
Launching world’s rst-ever initial convertible
coin offering (ICCO)
EXECUTIVE SUMMARY
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INNOVATION & REGULATION
First-ever Initial Convertible Coin Offering (ICCO) – Token holders have the right to convert to Palladium shares
(with full regulatory compliance).
One Blockchain Platform for All Financial Services – Palladium’s interface would offer a revolutionarily simple, fully-
integrated user experience.
Headquartered in Malta, a World Blockchain Leader – Malta, the blockchain island, has attracted the talent and
built the environment required to become a global blockchain powerhouse. They are the de facto blockchain center
of gravity with leading players (including Binance, BitBay, and OKex) relocating to the country, and Palladium can
leverage those resources for explosive recruiting and enhanced long-term prospects. Palladium has leviathan
partnerships to build one of the most robust trading platforms in the world .
LEADERSHIP WITH A PRODIGIOUS RECORD
Extended Group’s Synergistic Successes – Palladium’s extended group operates insurance, asset management,
payment services, forex exchange, blockchain and technology businesses, all synergizing with Palladium’s platform.
Prior Blockchain Success – Unikrn, the world’s leader in esports betting, already completed one of the most
successful tokensale to engage both esports and gaming.
Palladium’s Board Offers Experience and Accomplishments Nearing Perfection
Paolo Catalfamo, Founder of Investar and Chairman of the Global Capital Group
Rahul Sood, Former CEO of Microsoft Ventures and founder of Unikrn
Brian Jamieson, Founder & CEO of Centtrip and former CEO of Schneider
Greg McGowan, Executive Vice President and Director of Templeton International and former attorney at the US
Securities Exchange Commission
Joe Del Raso, Partner at Pepper Hamilton and former attorney at the US Securities Exchange Commission
Carefully Selected Advisory Board Fills All Needs
Carl Schramm, former President of the Kaufmann Foundation. Named by The Economist “the evangelist of
entrepreneurship"
Karl Flores, co-founder of Unikrn
Simon Davies, founder and CEO of Krowd9, founder of Snaptu
Andrea Negri, former Managing Director of Credit Suisse
DIRECT PARTICIPATION AND INVESTMENT PROTECTION
Ownership and Participation in Palladium’s Success – Investors will benet from the success of our business and
be rewarded as owners with participation in dividend distributions.
Asset-based Protection for Investors – Business plan includes the acquisition of a controlling stake in a European
bank, offering short-term value for long-term investor protection.
Unique, Historical Opportunity – Palladium is designed to effect sweeping change in crypto and ntech by
allowing users to buy, sell, invest, insure and save in any currency — crypto or at — within a fully legal and
regulatory compliant framework.
INVESTMENT CASE HIGHLIGHTS
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OUR PEOPLE
THE BOARD
EXECUTIVE MANAGEMENT
Joe Del Raso
Dr. Joseph Del Ra so is a partner in the
Commercial Department of Pepper
Hamilton LLP. He is experienced in
assisting businesses with a variety of
international and domestic transactions,
and advises on government relations on
the federal, state and international level.
Dr. Del Ra so leads the firm’s Investment
Management Practice Group and is co-
chair of the firm’s Italian Desk and a
practice leader for mutual funds of the
firms Funds Services Practice Group.
Prior to legal practice he worked at the
United States Securities Exchange
Commission.
Paolo Catalfamo
Prof. Paolo Catalfamo is the founder of
Investar, based in Malta, Luxembourg,
Switzerland and the US, and Adjunct
Professor at the Villanova School of
Business in Philadelphia. He serves as
Chairman of Global Capital Plc, a
financial conglomerate listed on the
Malta Stock Exchange. He is also
Chairman of Global Capital Life
Insurance Ltd, Chairman of Global
Capital Health Insurance Ltd and
Chairman of Global Capital Financial
Management Ltd, all regulated by the
Malta Financial Services Authority. He’s
a Board Member of CenttripLtd, a
London-based fintech company
regulated by the UK Financial Conduct
Authority. Previously, he served as
Deputy Chairman and CEO for Italy and
Southern Europe of Franklin Templeton,
the world third largest independent
asset management group.
Brian Jamieson
Mr Jamieson is the co-founder and
CEO of Centtrip Limited, a multi-award
winning FCA regulated financial
technology company based in London,
providing alternative banking and
treasury management solutions for
international business and private
wealth clients. Previously, co-founder
and Head of Introductory Brokerage &
Marketing of Schneider Foreign
Exchange Ltd (now Monex Europe),
one of Europe’s most successful
corporate deliverable foreign exchange
brokers. Served in the Royal Air Force
within the Tactical Communications
Wing and Systems Development
Centre. He is also co-owner of London
based, top 50 in Europe ranked
restaurant,108 Garage.
Rahul Sood
Mr. Rahul Sood is the CEO and Co-
Founder of Un i krn , a Seattle, WA
based gaming and eSports betting
company. Previous to Un i krn , Sood
joined Microsoft in January 2011. He
created the Bing Fund, Microsoft's first
ever incubation fund for startups, and
eventually Microsoft consolidated its
global startup activities under Sood’s
leadership. In June 2013, he launched
Microsoft Ventures. A serial
entrepreneur, Sood spent 18 years in
multiple startups prior to joining
Microsoft. He founded luxury and
gaming computer manufacturer Voodoo
PC, which was acquired by Hewlett-
Packard.
Greg McGowan
Gregory E. McGowan joined Templeton
in 1986 until his resignation in 2016
and held various senior appointments,
including Executive Vice President,
Director and General Counsel of
Templeton International, Inc. Mr.
McGowan served on various Templeton
boards of directors, including, among
others Templeton Investment Counsel
LLC. In addition, he presently serves as
an Independent Trustee on the Board
of Brinker Capital Destinations Trust, a
U.S. mutual fund registered under the
Investment Company Act of 1940 and
an Independent Member of the Board
of Directors of Global Capital Plc, a
Maltese Corporation. Prior to joining
the Templeton organization, Mr.
McGowan was a senior attorney for the
United States Securities and Exchange
Commission.
CFO
Pablo A. Pérez-Fernández
Dr. Pablo Pérez-Fernández is the Chief
Operating Officer at Global Capital Plc. He holds
a Ph.D. in applied mathematics from the
University of California at Los Angeles and a
Bachelor’s degree in pure mathematics from
Yale University. Prior to Global Capital, he
directed the quantitative research and structuring
group at a Dutch asset manager. Dr. Pérez-
Fernández was previously the CEO of a US,
publicly traded software company. He spent over
a decade in Wall Street in various senior
research positions, advising some of the largest
asset managers in the world on
telecommunications and other technology
investments. Dr. Pérez-Fernández started his
career at Raytheon Systems Company, where he
was literally a rocket scientist working on
classified military projects.
COO
Paventhan Savunthararasa
Mr. Paventhan Savunthararasa is the founder
and managing partner of Blue Stone
Management, an international business process
outsourcing company with operations in London
and Colombo. In 2013, he was a part of the
Camper & Nicholsons International acquisition
and served on the board of directors. In 2010,
he became the Chief Operating Officer of
Generation Group in London, where he co-
founded and was Director General of CMC SA
(WAFM) in Cameroon. Paven started his finance
career in the New York office of Swiss family
office Unifund. Paven has worked
internationally in the US, UK, Switzerland, Sri
Lanka, and Malta for over 15 years, focusing in
financial operations, as well as trading and
research.
CTO
Daniel Rudolph
Mr. Daniel Rudolph has been working with
Rahul Sood since 2008, creating the first-ever
skill betting platform for video games, PlayAll.
Daniel's computer science history spans nearly
three decades after he began developing
backend systems for banks and insurance
companies when he was16 years old. Rudolph
also helped Fintech company CrossLend to
build a Bitcoin Exchange together with a small
German bank. As CTO of Un i krn , he led the
development team that made UnikoinGold the
largest token in esports and gaming a reality.
He is always focused on enabling products and
ideas and driving innovation. Rudolph is the last
line of defense delivering reliable and scalable
operations, and connecting a distributed team.
CEO
Paolo Catalfamo
Prof. Paolo Catalfamo is the founder of Investar,
based in Malta, Luxembourg, Switzerland and the
US; and Adjunct Professor at the Villanova School
of Business in Philadelphia. He serves as
Chairman of Global Capital Plc, a financial
conglomerate listed on the Malta Stock Exchange.
He is also Chairman of Global Capital Life
Insurance Ltd, Chairman of Global Capital Health
Insurance Ltd and Chairman of Global Capital
Financial Management Ltd, all regulated by the
Malta Financial Services Authority. He’s a Board
Member of Centtrip Ltd, a London-based fintech
company regulated by the UK Financial Conduct
Authority. Previously, he served as Deputy
Chairman and CEO for Italy and Southern Europe
of Franklin Templeton, the world third largest
independent asset management group.
PALLADIUM ICCO • 6
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OUR PEOPLE
ADVISORS
Karl Flores
Mr. Karl Flores is a serial entrepreneur
and co-founder of Un i krn . Karl serves as
its CMO and is instrumental in product
development and innovation. Flores is
also the former CEO and Co-Founder of
Pinion, a Steam Powered game
community platform with unprecedented
access to the much sought-after gamer
demographic of males aged 18-35.
Pinion’s breakthrough technology created
a new vertical within online advertising,
and was a featured company in the
Microsoft Ventures accelerator prior to
being acquired by Un i krn in 2014. The
Pinion network reaches over 4mm unique
gamers monthly and U n i krn has already
grown to become the focal point where
esports and blockchain overlap.
Carl Schramm
Mr. Carl J. Schramm is an American
economist, entrepreneur, and a former
President and CEO of the Ewing Marion
Kauffman Foundation. He is currently a
professor at Syracuse University and a
former president of the Ewing Kauffman
Foundation, the world’s largest
philanthropy dedicated to promoting
entrepreneurship with a $2 billion
endowment. The Economist has
referred to Schramm as the “evangelist
of entrepreneurship.” He is recognized
internationally as a leading authority on
innovation, entrepreneurship, and
economic growth. His research opened
the field of expeditionary economics. In
2007 Schramm and then British Prime
Minister Gordon Brown created Global
Entrepreneurship Week, now celebrated
in 140 countries. He has been a
member of the Singapore Prime
Minister’s Research, Innovation and
Enterprise Council.
Simon Davies
Mr. Simon Davies is the founder and
CEO of Krowd9, which created a mobile
social platform to connect friends with a
shared sporting passion. Previously,
Simon was a founder and director of
Snaptu, the Sequoia Capital-backed
operator of mobile application Snaptu,
which grew to 42mmusers in 18 months
before being acquired by Facebook in
April 2011. Snaptu‘s platform powers
Facebook Lite, Facebook’s application
for several hundred million users in
emerging markets. In addition, Simon has
held or holds the following positions: BBC
Worldwide Labs Advisory Board, H2
London Co-Chair, and Board Member of
Quadriga Worldwide
Alex Fedosseev
Alex Fedosseev is serial entrepreneur,
high-tech executive and inventor,
passionate about open information
systems & their impact on our society.
Received Masters degree in Computer
Science from Moscow State University
with focus on Artificial Intelligence and
Big Data. Worked in bleeding edge
Silicon Valley startups in areas of
Broadband, Connected Home, IoT with 3
successful exits: 2Wire (2006), 4Home
(2010), Motorola Mobility(2011), all
Product Management roles. Started
1World Online in 2012 as main project of
his career with a mission to make
Internet Decentralized with people
owning and benefiting from their own
data and getting incentives from online
engagement. Actively advises other
startups and ICOs in Silicon Valley and
globally, frequent Blockchain events
speaker and influencer, author of many
articles and a few patents.
Andrea Negri
Mr. Andrea Negri is a former Managing
Director with more than 25 years of
tenure in the investment banking
divisions of Lehman Brothers and Credit
Suisse, where he also served in the
European Equity Management
Committee. Within his roles and
responsibilities he has been in charge of
Equity Derivatives distribution for Europe
and Middle East, distribution across US
and Canada for the European structured
equity product, distribution of all equity
product offering for Europe, Middle East
and Africa and he also co-managed the
overall Capital Markets product offering
across EMEA region (Europe, Middle
East and Africa). Andrea also served as
Contract Professor for the Derivatives
Course for the Master in Corporate
Finance at SDA Bocconi School of
Management
PALLADIUM ICCO • 6
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Palladium is offering one of the most unique investment opportunities in the blockchain world by conducting the rst
regulated ICCO in Europe. To this end, our ICCO will be conducted under the EU’s prospectus directive and our tokens will
be equity warrants convertible into shares of our company. This would give our investors a chance to benet from the
success of our company.
To simplify the process, the conversion price would be paid on your behalf by Palladium’s parent company. As an ICCO
participant, you can rest assured knowing that regulators have vetted Palladium and that ownership rights would be
protected in the EU. The Prospectus Directive demands that we adhere to our disclosed use-of-proceeds plan. This is
just one more way Palladium is xing the problems plaguing cryptocurrency, a sector where too often theres no legal
accountability between purchasers and sellers.
This is just one more way Palladium is xing the problems plaguing cryptocurrency, a sector where too often theres no
legal accountability between purchasers and sellers. Palladium is tangibly different from anything else, and due to our
regulatory obligation, you know we must execute as projected until we reach the future we envision.
TOKENIZED EQUITY WARRANTS
Price per Token
Maximum Issue Amount
% Tokens to Be Issued
Number A Shares
A Share Par Value
A Share Ownership After Full Warrant Conversion
B Share Ownership After Full Warrant Conversion
Token Conversion Rate
Par Value of a B Share
€1
€150,000,000
65%
50,000
€1
85%
15%
1
€0.000038235
Tokenized Equity Warrants
PALLADIUM ICCO • 8
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The biggest problem facing cryptocurrencies is that it is extremely difcult to buy or sell with them in the real
world because they have yet to gain widespread adoption. Adoption lags because of regulatory uncertainty
and the distrust engendered by both high price volatility and consistently negative commentary by the nancial
establishment and central government ofcials.
Today, there is no platform in Europe complying with existing regulations and offering convenient exchange
between crypto and traditional cash. This makes it extremely cumbersome to convert crypto into at:
Users are restricted by banks and credit card companies from making at transfers to exchanges and
back.
Users must register with multiple exchanges in order to purchase their desired crypto.
Fees and execution prices are non-transparent at crypto exchanges.
Users must manage multiple accounts to stay on top of all of their different assets.
Finally, ICO participants are rarely rewarded with any concrete. Instead, they trust the good intentions and
honesty of those raising capital, many of whom are not deserving of that trust.
PROBLEM
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Palladium initially set out to ease the process of converting crypto into at in a way acceptable for European regulators. In doing so, we
gured out how to deliver a veritable tour de force which will:
1. Bond traditional banking and crypto currencies within compliance with all relevant regulations in the European Union today,
reinventing the payments industry in the process
2. Tokenize securities and securitize cryptocurrencies within a strong regulatory framework in the European Union
3. Offer ICO participants ownership in exchange for their early support
Our solution works by connecting a bank and crypto exchange so that they can work together without breaking regulatory requirements.
More precisely, the connection is provided by virtual accounts on a purpose-built, permissioned blockchain without ever mixing asset
classes.
This means that at never leaves the bank, and crypto never leaves the exchange.
SOLUTION
ASSET AMOUNT PRICE VALUE
Bitcoin
Ethereum
USD
1.5
5
5
10,000
700
0.84
15,000
3,500
4.2
TOTAL
€28,504.20
ASSET VALUE
Start of Period Value
Injections in Period
Withdrawls in Period
End of Period Value
Return Over Period
Annualized Return
€100,000
€10,000
€20,000
€150,000
1%
12%
Crypto/Fiat Account View
Consolidated Account View
TRADE
SIDE
ASSET
TO TRADE
AMT
PMT
ASSET
Buy
Sell
Bitcoin
Ethereum
10
5
EUR
USD
Trading Screen
TIF
GTC
MKT
ORDER
TYPE
Limit
STP
PARAMETER
€10,000
€500
TRADE
SIDE
ASSET
TO TRADE
COMPLETION
PMT
ASSET
Buy
Sell
Bitcoin
Ethereum
5/10
0/5
EUR
USD
Trading Screen
TIF
GTC
MKT
ORDER
TYPE
Limit
STP
PARAMETER
€10,000
€500
The platform’s role is to present customers with a singular, unied interface to manage their various asset classes and to
access a wide array of services denominated both in at and in cryptocurrencies. Crypto and at assets in these virtual
joint accounts will be seamlessly interchangeable by users while maintaining full compliance with applicable regulations.
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The Palladium philosophy sees design as necessarily whole-bodied unlike anything yet existing in crypto.
As such, all the moving parts of asset exchange, regulatory compliance and other moving parts would be hidden away
from the customer, creating the same impact as a joint asset account. Users would see simple, aesthetic screens
showing their assets consolidated as unied virtual accounts accessible from any device.
DESIGN AS SOLUTION,
SOLUTION AS DESIGN
SOURCE: Palladium
We plan to offer other essential nancial management tools with similar ease-of-use, such as simple interfaces
to convert one asset class into any other.
Design is not just what it looks like and
feels like. Design is how it works.
"
"
- Steve Jobs
PALLADIUM ICCO • 11
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Our outline enforces strict segregation of asset classes. Traditional, at cash must be held at the bank and never
transferred to the exchange. Likewise, crypto assets must always be held at the exchange and never transferred to the
bank.
This is a critical design choice to ensure strict compliance with current EU regulations. A permissioned, blockchain would
act a clearing and settlement platform to enable the virtual consolidation of at and crypto into synthetic accounts.
SYSTEM'S ARCHITECTURE
Palladium customers would be automatically approved for bank and exchange accounts, and at-crypto
translations would only be possible once the customer had opened Palladium accounts. However, we plan
to allow client to open accounts directly with the bank and the exchange.
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To create its integrated offering, Palladium requires only three core elements:
1. Regulated Bank – Our bank would hold at deposits in traditional bank accounts. We plan to set up or acquire a
bank in the Eurozone, preferably in Malta. Of course, this depends on the availability of banks which can be acquired
and on the timeliness of approval from the European Central Bank. We will consider the acquisition or formation
of a bank in a member state of the European Union (which is not a member of the Eurozone or the United States of
America).
2. Palladium Blockchain Clearing & Settlement Platform – We plan to develop a permissioned blockchain platform
to connect a bank and a crypto exchange. The initial, primary purpose of this platform is to enable virtual values to
be transferred between the bank (at) and the crypto exchange (cryptocurrency) so products and services can be
offered without moving at between the two institutions. We further expect to build APIs for traditional banks to plug
into the Palladium platform, allowing their customers to transact with crypto in a regulated environment.
3. Crypto ExchangeThe exchange would enable cryptocurrency investors to exchange crypto assets with other
crypto assets and thus serve as an alternative to at currency and a liquidity source for crypto assets. In addition,
the exchange would offer virtual at accounts which enable the translation between at and crypto. Palladium won’t
build this from the ground up, we have partnered with one of the largest and most reputable exchanges on Earth.
All intragroup transactions would be recorded on the Palladium Blockchain Clearing and Settlement Platform, using
smart contracts.
THREE FUNDAMENTAL ELEMENTS
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In this model, at funding of a crypto exchange account is accomplished via special, exchange-restricted accounts
controlled by the bank’s customers. To credit an exchange account with at, the bank restricts part of the client’s current
account balance. Restricted balances remain unavailable for traditional banking transaction unless explicitly released by
the customer. Crypto purchases with at are possible whenever the restricted bank account has a positive balance.
Our system would mirror credits and debits instantaneously on the blockchain. Customers would transfer at to their
synthetic accounts just as they do today. Their IBANs would be those of their traditional bank accounts. Transferring
crypto to their exchange account would also function as it does today (with customers transferring balances to their
public exchange addresses).
TECHNOLOGICAL IMPLEMENTATION
Note: All crypto values expressed in EUR-equivalent terms for illustrative purposes
Above, Customer A purchases €10 worth of crypto from customer B. Virtual at is moved from A to B at the
exchange. The transaction is recorded on the blockchain and then reected automatically in the
corresponding customers’ restricted exchange bank accounts.
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Palladium intends to reinvent the ICO/startup model because most ICOs fail to deliver on their promises. Whether due
to underestimated technical complexity or hiring needs, these failures undermine stability and creates substantial
downward pressure on the entire blockchain economy.
Rather than launching with the hopes that our platform will be completed before our capital runs out, Palladium plans to
acquire a bank shortly after our successful ICCO. The cash ow generated from this established asset would subsidize
development and provide asset valuation support for the ICCO’s investors.
In contrast to a traditional ICO, this asset plan both mitigates risk to investors and gives Palladium the runway to
complete development and launch the platform.
REVENUE MODEL — THE BASICS
Our strategy looks for ways each individual element in our system can add real value to end users, then ties them
together behind a unied interface. In the end, our singular service offerings would t naturally with a platform that is
greater than the sum of its parts.
Both the bank and the exchange will run on traditional models for their sectors. The exchange will never hold at, and
the bank will never hold cryptocurrencies. Instead, when customers exchanged crypto for at, the exchange would hold
all crypto and send a virtual credit to the bank, which would then credit their at account.
Because the bank never takes direct action in the world of cryptocurrency, we are condent regulators will raise no
objections.
BUSINESS PLAN
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BANK
The bank would already be making money from existing banking activities. As Palladium’s progresses, its unied bank/
exchange offering should elevate the prole of our bank by attracting new customer segments and introducing innovative
products to its existing clientele.
With rst-mover advantage on this space and a unique, expertly executed portfolio of options, there would be ample
opportunity to elevate the bank’s offerings — both in relation to the system and as an independent, protable asset.
EXCHANGE
Crypto exchanges are attractive businesses today. Minimal competition and rapidly expanding demand for their services
have translated into handsome, average commission rates ranging between 20 and 30bp of the traded value. This
compares extremely favorably with the 1-2bp level earned by institutional equity brokers. Elementary microeconomic
analysis suggests such lofty prot margins will soon suffer signicant downward pressure, thus making it hard for many
exchanges to remain aoat.
We believe our integrated banking-blockchain-exchange offering will open up attractive fee-based avenues to serve our
clients. In a way, our revenue model will likely mirror that of innovative FX and payment companies currently providing
easy-to-use, multi-currency payment and account services. The convenience of our offering, coupled with the projected,
explosive growth in the number of crypto investors and assets should power the expansion of our crypto exchange.
BUSINESS PLAN
Daily Revenues for Crypto Exchange (Estimated, USD)
SOURCE: Crypto Exchanges Are Raking in Billions of Dollars, Bloomberg.com on March 5, 2018
Binance
Upbit
Huobi
Bittrex
Bithumb
OKEx
Bits Blockchain
Bitnex
Bit-Z
GDAX
Bitstamp
WEX
Kraken
HitBTC
CoinEgg
BTCC
EXX
Gemini
Poloniex
bitFlyer
0.5M 1.5M 2.5M
3.5M
PALLADIUM ICCO • 16
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ICCO TIMELINE AND
PROJECT’S MILESTONES
PALLADIUM ICCO • 17
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Notwithstanding the allocations at right, we will
guarantee pre-sale commitments up to the €150mn
cap. The precise allocation of tokens to the pre-sale
and the general offering will be governed by the
following rules:
1. Pre-sale Commitments Guaranteed Proportionally
Up to the €150mn CapThis means that
aggregate pre-sale commitments is to be allocated
proportionally to the ratio of individual-to-total
commitments. For example, assume that two
investors committed €75mn and €80mn. The
corresponding allocations would be
2. Subscription Amount Available Following Pre-
Sale – The subscription amount available for the
general offering will be €150mn minus total presale
commitments (with a €150mn upper found).
3. General Offering Allocations Computed
Proportionally to Amount Determined by #2 – For
example, if there were only €50mn left for the
general offering following the presale and that
two investors subscribed €20mn and €80mn. The
corresponding allocations would be
TOKEN ALLOCATIONS
Token Distribution
The planned distribution of our tokens is as follows:
25%
10%
65%
Management & Employees
Advisors
ICCO
×€150mn=€72.58mn
75
75+80
×€150mn=€77.42mn
80
75+80
and
×€50mn=€10mn
20
20+80
×€50mn=€40mn
80
20+80
and
PALLADIUM ICCO • 18
v 2.17
The Palladium Blockchain Clearing and Settlement Platform may sound generic, but opens up unmatched
possibilities. A focus on clearing and settlement is the last element needed to reinvent money and consumer
nance as we know it.
PAYMENTS: INSTANT, SAFE AND IN THE CURRENCY OF YOUR CHOICE
Despite an approximate $300bn (and growing) market cap, cryptocurrency owners currently struggle to utilize their
assets’ value because theres no easy way to do so. Ironically, a bitcoin miner uses electricity to earn bitcoin that can’t be
directly spent on the electric bill.
Palladium would allow customers to make any payment using whatever currency or asset they hold, regardless of the
currency demanded by the vendor.
THE FUTURE OF FINANCE
Virtual-Conversion
Payment Platform
Bitcoin Payment
Request
Orders Bitcoin Payment to
Business Wanting Bitcoin
Insurance Company
Requiring Fiat Payment
$
FIAT Cash
Bank
CRYPTO
Crypto Exchange
PALLADIUM ICCO • 19
v 2.17
The disruption we will cause in the payments industry should
create an explosion in blockchain functionality. Ultimately,
we’re talking about a transformation akin to the invention of
credit cards or online payment services.
This fundamental reinvention of one of the largest consumer-
facing industries in history is only where Palladium plans
to start, not where we plan to end. A crypto-at translation
engine is also the prerequisite to drive a wide-ranging array of
ground-breaking nancial services.
WORLD’S FIRST CROWD-FUNDED
TECHNOLOGY VC FUND
The success of our world’s rst ICCO will be followed by a
number of other ICOs to raise fund for blockchain-related
projects falling within the sphere off our expertise. The idea
here is to follow our principle of democratizing access to the
most attractive, emerging nancial inventions using the model
established by our rst ICCO. The asset-backed, real estate
ICO described below is on such example. Another exciting
project we are not at liberty to discuss extensively but is very
exciting involves health-related, blockchain and multi-factor
models to modernize the underwriting of life and health
insurance underwriting.
REAL ESTATE (ASSET BACKED)
CRYPTO SECURITY OFFERINGS
We believe security issuance tokenization will be the biggest
real estate disruptor in over a century. Property development
is typically nanced by issuing bonds with coupons paid using
rental income. In economic downturns, this marvelous system
results in technical defaults — and huge problems.
Tokenized securities would solve this problem. In fact, we
have already arranged for an asset-back ICO to nance the
development of an €800mn real estate project in Northern
Europe. The project would replace traditional coupons with
preferred stock dividend that protect the viability of the
project by introducing the option of curtailing payments in
times of economic duress. Because the real-estate industry
is cyclical, this approach should offer superior risk-adjusted
returns to ICO participants compared to traditional bond-
based nancing.
INVESTMENTS (CRYPTO FUNDS)
This ventures primary line of business would be to offer
personalized, quantitative asset management in listed
equities, ETFs and xed income. Palladium expects to offer
THE FUTURE OF FINANCE
traditional funds and managed accounts, charging a 1-2%
management fee and a high water mark-based performance-
based compensation of 5-20%, depending on bespoke
subscription agreements.
A secondary line of business will be crypto asset management
services with virtually the same products as for traditional
asset classes. We would segregate them and charge for our
services exclusively in crypto at similar management and
performance levels.
Traditional asset managers wanting, but precluded from,
direct exposure to crypto and blockchain investments would
be able to do so via a feeder that will invest traditional at in
our crypto funds on their behalf.
This is similar to our approach to crypto/at accounts by
segregating traditional and crypto investments to mitigate
unnecessary risk and regulatory concerns. The customer,
however, will be able to see all of his assets through a singular,
integrated interface, exactly as we plan to offer for traditional
and cryptocurrencies.
INSURANCE
(LIFE INSURANCE ON BLOCKCHAIN)
Life insurance seems poised among the most obvious
industries begging to be disrupted by smart contracts. There
is no simpler smart contract than a pure life insurance policy
because a person is either dead or alive!
We plan to develop life insurance smart contracts that trigger
automatically upon the issuance and digital conrmation
of a death certicate. We envision insurance distributions
dispatched with no delay to beneciaries and following the
precise instructions of policy holders.
Death of a loved one is typically painful and confusing, often
creating troubling schisms between families
and friends. We believe smart contracts will
remove much of the unnecessary aggravation
and help streamline the process to allow beneciaries to
focus on legacy, love and togetherness.
Despite recent pronouncements from the European Central
bank and the Maltese government that crypto is not legal
tender for insurance products, we expect to introduce legal
and compliant insurance products using cryptocurrencies.
As is the case with our approach to at/crypto accounts,
we plan to comply with regulations through a structural
innovations wherein our Palladium Blockchain
Clearing and Settlement platform could enable
crypto payment for insurance products with
PALLADIUM ICCO • 20
v 2.17
THE FUTURE OF FINANCE
automated crypto-to-at translations.
In other words, we could pay with whatever asset a
customer wants by using our platform to translate
payments in an automated process hidden behind
our deceptively simple interface.
CRYPTO DEPOSIT INSURANCE
We have all read extreme news stories about the lengths
early Bitcoin investors go through to try and recover lost or
stolen Bitcoins. Preventing loss or theft is a problem as old as
money itself. Modern banking was the solution to the risk of
owning cash, a solution dating all the way back to the time of
the Medicis and their protection of the Popes wealth in
secret caravans.
Deposit insurance was introduced in the United States and
other advanced economies in the early twentieth century after
central bankers understood that runs on banks and the onset
of catastrophic nancial crisis could be mitigated signicantly
by offering government-backed deposit protection. This led
to the creation of the Federal Deposit Insurance Corporation
(FDIC) in the United States.
Now, a similar solution is needed for cryptocurrencies,
but because regulators cannot keep up with the pace of
technological change, any solution will need to be introduced
via private enterprise. We are working on this product, and
expect it could be offered once smart contract languages
become properly audited and certied. Our solution would
combine (i.e. multi-signatures), nancial engineering (i.e. re-
insurance) and physical world techniques (i.e. super secured,
cold storage protocols), and we fully expect the upcoming
Maltese blockchain regulation to drive a wave of innovation
that will make our product possible.
As with all of these ventures, this crypto deposit insurance
would be issued on the Palladium Blockchain Clearing and
Settlement Platform.
CRYPTO LOANS
(WITH INTEREST PAYMENTS IN CRYPTO)
Crypto loans are a natural extension of crypto banking
services. With our crypto/at banking solutions, crypto
accounts would no longer be limited to exchange trading.
Given this revolution, the crypto equivalent of traditional
banking seems to be an inevitable progression as excess
crypto burns the proverbial pockets of crypto bankers.
This creates the basic conditions for cryptocurrency
loans. Barring signicant regulatory changes, interest on
these loans would also be paid using crypto. However, our
Palladium Blockchain Clearing and Settlement platform would
allow customers to pay crypto interest using at, thereby
eliminating any regulatory imperative to introduce risky
regulations enabling the co-mingling of crypt and at.
INSTITUTIONAL CRYPTO CUSTODY
As blockchain and crypto investing goes mainstream,
institutional crypto custody is another inevitability with
tremendous business potential for Palladium. The
complexities of scale and cross-border consolidation
will impact new asset classes because these issues are
intrinsic to investing. Our Palladium Blockchain Clearing and
Settlement Platform embeds this reality as a key design and
operating principle, and we therefore expect Palladium to be
ideally positioned to evolve to investments, crypto deposit
insurance and crypto custody services.
INSTITUTIONAL CRYPTO TRADING
Crypto trading will necessarily evolve beyond today’s
fragmented array of intermediaries. Custody, clearing,
settlement, and trading are all performed by different players,
creating a blight of inconveniences and complications
for users.
Palladium could combine these tasks into a unied service on
the Palladium Blockchain Clearing and Settlement Platform,
another achievable goal which would be nothing short of
revolutionary. This would eliminate economic frictions by
streamlining the process, eliminating intermediaries
and waste.
PALLADIUM ICCO • 21
v 2.17
SUBSCRIBING TO THE ICCO
The only way to subscribe to our ICCO is to complete the process through our website. You are welcomed to request
information and assistance through our customer support desk at [email protected]
Read 23.3 in the accompanying prospectus.
TERMS AND CONDITIONS
For more details and other information, visit our accompanying prospectus. This ICCO is limited to qualied investors as
dened by the European Union.
PALLADIUM ICCO • 21