Most entrepreneurs dream of the sort of illustrious career that Alexander Mamasidikov has enjoyed over the years. The businessman is also a marketing professional, populist, activist, techie, and analyst, dipping his toes into many waters over the years.

His plate has been full, most recently, working on MinePlex, a CrossFi bank that launched a year ago and has been making headlines ever since. In the year it has been in existence, MinePlex has rolled out a slew of digital banking features like sending, receiving, and spending cryptocurrency, commodity staking, traditional staking, and so on.

While most would be burned out from having all these career endeavors and running a new company, Mamasidikov believes that his varied career history prepared him to run MinePlex.

“Having worked in the crypto industry for a long time, I saw the need of users for certain products that are needed for daily use. I realized how important it is to change the vector of application of blockchain and cryptocurrency. It is important not only to come up with an idea, to take risks under control, but also to work hard. Therefore, we have collected the best of the modern and do everything necessary,” Mamasidikov explains, adding that, “Traditional finance has long demonstrated its outdated system not only in dealing with clients. There are almost no cross-border transfers, a lot of bureaucracy, and high fees. The bank does not ask the client before using his money that is deposited every day. There are no alternatives for bank loans with huge interest rates. CrossFi is Cross Finance by MinePlex. It combines traditional financial instruments with blockchain technology. It also solves the problem of unpredictable volatility of the crypto market and makes it possible to use cryptocurrencies every day along with fiat. There was a need - a solution appeared.”

A New Dawn for MinePlex

Most recently, MinePlex held an event in Dubai with over 150 participants where details of its upcoming version, MinePlex 2.0, were made public for the first time. There was also a public reveal of the MinePlex crypto card as well as a demonstration of its inner workings and features.

The card will be part of a new partnership with Dzing Finance Ltd to see MinePlex integrated with the Mastercard payment system to allow for easy spending of funds around the world. This feature has been one of the most crucial not only to MinePlex but to the progress of the crypto industry in general.

“Let's say you have a choice to pay with a crypto card for cryptocurrency or use the usual fiat, which will you choose? Will you use an asset that really belongs to you, that you control 100%, and it is located only at your address? Or an asset held by a third-party organization, for the withdrawal of which you sometimes need to write a statement? One of the main tasks of MinePlex was the creation of financial instruments that will give access to cryptocurrency to any user. Make an alternative to traditional services. Order tickets, pay bills, buy goods for cryptocurrency - without exchangers and third parties. A currency that is wholly owned by the owner must work every day,” Mamasidikov says, speaking on MinePlex’s payment setup.

During the conference, a number of topics were touched on, including the rising popularity of the crypto industry and what this means for the world of banking. Consumers have tasted certain freedom with CrossFi and it is unlikely that they will want to go back to the days of old. It also means that the monopoly and absolute power held by traditional banks could be well on its way out.

As Mikhail Stroganov, the Adviser to the Shareholder of Dzing Finance Ltd, puts it, “Nobody has the right to usurp other people's assets. On the part of commercial organizations, the dictatorship and seizure must go away. New technologies and neobanks will win a great victory. The ideology that drives the entire crypto industry is to create a new world with different approaches to asset ownership.”

Further stressed during the conference was the need for crypto-related education. There is still a great deal of ignorance among consumers regarding cryptocurrency. Within this ignorance can come a fear of the unknown and if this attitude trickles down to regulation, it could bring about issues for the industry.

During the conference, Rico Pang, the Co-founder and Global Managing Partner of Sanctum Global Ventures noted that “For the widespread adoption of cryptocurrency to take place, adaptation and user education is needed. We need to work with this, then it will become possible.”

With all these big plans in the pipeline, Mamasidikov believes that MinePlex’s future will be as successful as its first year, with even more being offered to customers.

“We presented a new strategy for MinePlex 2.0. These are expanded opportunities for our users and new products on the crypto market: crypto cards, a multi-currency wallet with fiat and main types of cryptocurrencies, a POS terminal, an expanded marketplace and CrossFi banking, which will combine the best of the traditional bank and blockchain technology,” Mamasidikov concludes.