Don't tell @holareserve, but we we are secretly building an exchange. This is not news – the Reserve app just *contains* an exchange.

The reason why it has to be kept secret is that users need to understand it as taking the place of their bank account, not their Binance account.

We think crypto exchanges are going to try to make the leap to offering a normal financial services experiment, but the transition will be slow. People are ready now – this is why we decided to build our own.

This initiative is the main reason we have been going annoyingly slowly. So slow! We hate going this slow.

But, we are figuring out a new kind of platform that can function under conditions that normal financial systems can't. So, it's complicated and slow going to get started.

Right now we are sorting out how to keep trading and settlement combined into a single action, while still running an order book.

That's hard – when a trade clears, payment processor has to clear it to user's bank account right away.

But what if there are two payment processors offering the same price, and you don't know which one will settle faster, which do you match the user with?

What if one processor has a better rate but will take 10x as long, do you let the user choose or keep it simple somehow?

These are the kinds of decisions we have to make all the time, since we are doing something in a new way, where there isn't anyone to copy.