Oh really? That's awesome!

True, I'm hoping it will be considered along the same lines as traditional exchanges where they issue their own digital representations of fiat and crypto. Given I'm only issuing fiat and it's done on a blockchain it's even safer compared to them.

Yeah, that's made me a little concerned, I'll be sure to have some bank accounts for redundancy.

I agree, I think liquidity will be a challenge, like you say.

I'd absolutely be open to that, I've been considering the restrictions that would need to be set on the UIA to enforce its use as a simple utility. Otherwise, we could be left open to people transferring the UIA between themselves and the government considers it a money transfer service, independent cryptocurrency, etc.

Because of AUSTRAC's push for KYC each holder of the UIA will have to go through KYC, therefore for you to then pass on portions of your 10,000 UIA to customers you'll need to do KYC verification on them.

Therefore, in order me to pass on amounts of the UIA for further distribution a type of partnership would be created which pools KYC records in order to prove who possesses the UIA at all times, same way as traditional exchanges.

Let me know if you're interested!