Blockport Community Update 3: preparing for a major comeback
In Update 3, Blockport reveals a key partnership and prepares for a powerful relaunch outside the crypto space.
On December 12, 2019, we shared an important update with our community: Blockport is taking concrete steps toward a full platform relaunch. As part of this effort, we’ve entered a strategic partnership with an external company outside the crypto space.
The partner, which we can’t name yet due to confidentiality, has millions of users and will support our trading platform restart. The partner operates outside cryptocurrency markets but brings substantial user reach and strategic value to our relaunch plans.
Negotiations started in mid-2019, shortly after we suspended operations to conduct a strategic review. Our team, core technology, and Blockport token will remain unchanged under the new arrangement. We will maintain the same development approach and customer support structure when trading activities resume. The partnership preserves our technical infrastructure while adding financial stability for the relaunch.
As many of you know, our trading platform went offline at the end of May 2019. We suspended trading and deposit functions after our Security Token Offering failed to reach its $1 million target.
In May 2019, Blockport B.V. filed for bankruptcy as part of cost reduction efforts. Only one of our four legal entities was affected. Blockport Holding B.V., Stichting Blockport, and Stichting Administratiekantoor Blockport remained operational.
During the offline period, we informed investors that they would receive the euro equivalent of their token holdings to meet legal requirements. Despite the financial constraints, our founder Sebastiaan Lichter reaffirmed our commitment to pursuing Blockport's original goals.
Pre-launch preparations are now underway with our new partner. We will continue providing updates to our community as work progresses.
This partnership represents our return to active platform development. We will announce more details about the collaboration and relaunch timeline as agreements finalize.