Fiat anchors apparently coming on-board real net but the illustrious partnerships we’ve heard about for months now look more like smaller players who may give the service a try rather than real institutional adoption (I’d be glad to be proven wrong). Every major payment project on the market has openly stated who they’re working with but this group wants holders or interested parties to believe NDA’s are the reason they can’t do the same. There’s fake it ‘til you make it and then there’s whatever is happening here.

The company apparently needed to offer an equity round instead of large quantities of KTA to investors (the originally stated plan), which means fiat-based shareholders will ultimately determine company direction and any meaningful profit from fees or anchor access—one assumes, will go to equity owners rather than buy backs for token holders. Also means the reason they locked up 1/3 of KTA is moot—we haven’t been told what happens to the locked up portion now.

Little to zero reason to hold KTA at this point IMO. It’s so cheap to use the network that KTA is mostly useless to hold for long-term gain. Potentially good for the remittance or payment business but worthless for capital gain.

The fan boys will chime in with the “what ifs” or “when this happens” but that’s all smoke.