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I'm trying to understand, by passing the trade request you are like a hosted wallet that you control? Instead of the user broadcasting a transaction, the hosted wallet does that? I don't understand how that isn't money transmission, unless the hosted wallets are actually multisg, because as I undertand it multisig isn't considered custodial.

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So currently we don't host any wallets. Clients open custodial accounts with pre-existing exchanges and then leave an API key for us to retrieve transaction and balance data. When they request a trade, we simply let the exchange know that the client has requested a trade, and we don't move any money on the client's behalf.

We are currently seeking money transmitter licenses so that we can offer a hosted wallet of our own, where we hold the exchange accounts on the client's behalf, and act as their counterparty for every trade so they don't have to maintain accounts at multiple venues. This version of the application is not yet available.

Thanks for the clarification. The api is used to send instructions to the money transmitter. I am imagining the product is more UX and aggregation of data for the end user. Congrats on your launch.

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