In the Welltrado Roadmap a key part of the ICO was the application for a Fund Management Licence (also known as the Asset Management Licence) in May 2018 and to receive this licence in October 2018.
On the 7th of April 2018 Aiste from Welltrado posted their top 5 next steps after the ICO and number one was the Fund Management License.
A question from an investor on the 9th of June 2018 regarding the Fund Management Licence was responded to by Kim Nielsen saying that the licencing process takes up to half a year, when asked if there was a delay he was told no and they were trying to sped up the process by acquiring one from another company instead.
No comment was the answer when asked for more information on the type of company.
The same question asked on the 9th of October 2018 regarding the Fund Management Licence was met with the excuse from CEO Tomas Medeckis that they were considering to acquire a company with the license. The Licence should have been acquired by October according to the roadmap.
On the 19th of January 2019 and Jenny from Welltrado Support confirmed that the Fund Management Licence is cancelled due to the market.
Jenny from Welltrado on the 23rd of January 2019 confirmed that the Fund Management Licence would not be taken at the moment and it was too expense to maintain and instead they will put all their efforts in development of the dashboard and increasing the user base. Only after the reach 5000 investors will they integrate the dashboard token utility.
The Fund Management Licence was a key part of the Welltrado project and without it what do you have?
On the 15th of March 2019 Tomas Medeckis confirmed that there would need to be a capital injection to be able to apply for a Fund Management Licence and that this was what the main reason for the project.
Tomas Medeckis confirms that there is no use for WTL without a Fund Management Licence.
And that they didn’t have the APIs needed to increase the usability and thus the price.
There really doesn’t appear to have much activity from Welltrado since the ICO ended, they haven’t met any of their objectives in the Whitepaper that can be seen and they already had the core product operational prior to the ICO.