News Update Release Announcement:
The text created by the in-house compliance team has been modified before the press release.
The text of the press release, which has a different intention from the content of the press release prepared by the conventional compliance team, following is the revised update new information. We apologize for the confusion caused to users, following is the update released CEO Management Office Jarvis.
VIVE Corporation. PTE, LTC. (“ VIVE ”), having confirmed the existence of problems between the services related to its ONELLET virtual currency wallet service, has been forced to suspend ONELLET services for a maximum of 4 months while VIVE redoes KYC checks and enhances compliance.
In addition, due to operational problems, VIVE has also confirmed that some of our users from other countries are either members of organized crime groups, or parties that are affiliated with such, and we have also received many reports of unreasonable demands made through our service.
As VIVE’s KYC efforts with respect to the markets of other nations were insufficient, we are preparing to request the assistance of foreign attorney’s offices in conducting further KYC checks.
Furthermore, in light of the defamation VIVE received with respect to its services, we have requested investigations by a team of defense lawyers and police agencies. We apologize for the inconvenience this will cause our existing users, but the service suspension period will last around 4 months, and during that time the service will be inoperable. We beg your understanding as we work to make ONELLET a secure system our users will be able to use for a long period of time.
In Light of Our ONELLET Suspension, We Would Like to Report on Our Various DAAPS services
- About the CXCard
Although we had planned to launch the CXCard in March, due to the ONELLET suspension we will be delaying the provision of this resource.
- About Moon Pay and Vtraders
As these are external links, they may be used by directly accessing them in your browser.
- About Treasure Box
Treasure Box will be suspended alongside ONELLET, but we will be advancing the following matters.
– We will be changing our systems, and preparing to enhance our marketing in various nations in Asia.
– As we are now able to satisfy the legal conditions of Japanese law, we will form an advisory contract in order to establish a new service under a different corporation within Japan.
Changes to Treasure Box after the Suspension Period
- Saturation Suspension
– As we believe that having numbers of days determined in advance helps cause saturation, we will be switching to a system where the number of days until resale will be controlled by demand.
- By placing a price on the items used for resale themselves, we will free ourselves from the notion that sales must be completed at all costs.
As a result, we will be restarting the service after having further integrated the items exchanged with the experience of exchanging them.
- About Our Operational System
– In order to advance our collaborations in various fields, we will rebuild our business from our team compositions upward, and ensure that we no longer succumb to resource deficiencies.
- We will enhance our hiring efforts in order to enhance our management system.
3. About Our Functions
- We will move away from a purchasing system.
- In order to expand into the mass market, we will improve our wallet functions.
By restarting in a state where we have resolved our issues while keeping the above points in mind, VIVE as a whole will propel ourselves forward in this business in order to firmly establish an image of our company that tells existing users and future new users that they can enjoy our services without worry.
VIVE Corporation. PTE, LTD.
1 North Bridge Road, #21-10, Singapore, 179094
Compliance and Management Office