Vaultbank has announced the beta launch of its decentralised exchange, which enables the trading of security tokens.
The company claims the Vaultbank Exchange will be the first securities compliant platform that performs KYC, AML, FATCA and accreditation.
Along with security tokens, Vaultbank supports trading of utility tokens and traditional investment securities like Mutual Funds. Its aims to tokenize securities including Mutual Funds and Hedge Funds efficiently and at low cost to investors. While most exchanges only offer utility token trading, Vaultbank provides investors more options to buy, sell, and trade a range of tokenized securities and assets.
“Security tokens are the future of cryptocurrency investing, and we’re building a powerful ecosystem to support this evolution,” said Austin Trombley, President and CTO of Vaultbank. “The beta launch of our decentralized Vaultbank Exchange is one of the first steps in our roadmap, and we look forward to feedback from our investors and community as we continue to build the Vaultbank suite of services.”
The company’s gives traders control over their private keys and requires triple-factor authentication, which ensures that no centralised entity owns users’ information , therefore protecting it against attacks.
Vaultbank’s board of directors includes former BlackRock CIO Ken Kroner, former Third Point Capital partner Keri Findley, former MasterCard Head of Digital Commerce (MEA) Aaron Oliver, Gyft co-founder CJ MacDonald, and former Bank of America Managing Director Mike Gay.
Its VB Fund will consist of secured credit assets, augmented by Random Forest Capital’s Al and machine learning expertise. It will provide the main asset backing of each VB token, which intend to pay quarterly Ethereum dividends.
The Vaultbank debit card program is also being developed to enable spending of select leading cryptocurrencies at highly competitive industry rates on major global currencies. All crypto to fiat transactions would be completed through the Vaultbank Exchange, reducing potential issues with card processors.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
