Hello bitshares community,
By now most of you have heard about the AriseBank ICO and some of the controversies surrounding them.
I refer you to here:
as well as here:
Following up on these, I also did my own research.
Apart from the findings above, all of the legal terms on their website are copied from other sites:
Specifically, most of the stuff is copied from BitPay
see:
https://www.arisebank.com/learn/legal/abank/account-agreement/
& https://www.arisebank.com/learn/legal/apay/merchant-agreement/
and compare with:
https://bitpay.com/about/terms
Specifically, they're such amateurs that here: https://www.arisebank.com/learn/legal/apay/new-york/
They've missed the search & replace and the text still references BitPay.
Here:
https://ariseos.org/branding-guidelines/
They've copied from:
https://www.openstack.org/brand/
On to the more key elements, their card holder agreement here:
https://www.arisebank.com/learn/legal/arisecard/cardholder-agreement/
is copied from:
https://www.shiftpayments.com/agreement
With that in mind, I contacted Metropolitan Bank and got the following response:
When Arise was confronted with this they responded with:
"We did have something in the works with them, yes. That was back in June.
Then we found Marqeta which truly allowed us to do what we wanted
In a decentralized way"
And tried to wiggle out of it claiming these were older terms that would soon be replaced.
May I also point out to you their post: https://www.facebook.com/arisebank/posts/357340811375082
announcing their "partnership" with marqeta.
So what to do but contact marqeta :)
Here is their response:
At this point...If you still think it's not a scam, I can't help you.