Vaultbank Raises $3 Million, Launches Vaultbank Fund

Vaultbank Raises $3 Million, Launches Vaultbank Fund
13.04.2018 12:36 pm

Vaultbank Raises $3 Million, Launches Vaultbank Fund

Cryptocurrencies

Vaultbank (www.vaultbank.io), the cryptocurrency exchange platform for buying, selling, and trading asset-backed tokens, today announced it has raised over $3 million in funding, reaching the soft cap for its VB token sale. VB tokens are currently being distributed to Vaultbank token sale backers. The company also announced the launch of the Vaultbank Fund, which provides the main asset-backing of each VB token and intends to pay quarterly dividends in Ethereum (ETH). Of the $3 million raised in the VB token sale, $1.3 million has been allocated to the Vaultbank Fund, providing the main yields to be used for potential dividends which are expected to be distributed at the end of Q2, 2018.

“At Vaultbank, we’re building a suite of financial services to support the evolution of cryptocurrency trading and investing, and the Vaultbank Fund is a major feature of this effort,” said Christopher Cummock, Co-Founder and Chief Compliance Officer. “We are pleased by the support from our backers in the VB token sale, and look forward to continuing to build out our platform and fund offerings.”

Vaultbank is a global investment firm that provides a comprehensive suite of financial solutions including a secured asset fund, its proprietary Vaultbank Exchange, and traditional investments securities that include Mutual Funds and Hedge Funds.  The Vaultbank Exchange will offer a fully securities-compliant platform supporting KYC, AML, FATCA, and Accreditation.

Vault bank has also partnered with Gordian Compliance Solutions, LLC, a compliance consulting firm, headquartered in San Francisco, CA. Vaultbank and Gordian Compliance Solutions are in the process of registering with the SEC as an Alternative Trading System (ATS) and with FINRA as a registered broker-dealer for the issuance of security tokens and the trading of security and utility tokens on the Vaultbank Exchange.

Built on the Stellar platform, Vaultbank Exchange offers lightning-fast transaction times at a fraction of the cost of other exchanges. While many exchanges have come under scrutiny for providing insufficient security protocols, Vaultbank has been engineered to provide enhanced security via compulsory triple-factor authentication. Vaultbank further mitigates security risks inherent in other centralised exchanges by providing traders total control over their private keys.

Vaultbank 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.

Related News

Solactive partners with CoinMarketCap to create Cryptocurrency Benchmark Indices

Solactive is pleased to announce that internationally renowned cryptocurrency information and data provider CoinMarketCap (CMC) joined forces with the German... Read more »

Token 2049: Ethereum Supermeetup 2019 Recap

As part of the Token 2049 event, the Ethereum Supermeetup 2019 is the first of its kind held at the luxurious Kerry... Read more »

GBP “holds firm” as experts say NOW is the time to exchange your currency

As MP’s voted last night for Theresa May to seek an extension to Article 50 and delay the UK’s exit from the EU, GBP remained steady against the euro, despite fears that any... Read more »

Market Synergy Extends Connectivity to Cryptocurrency Exchange Bitfinex with Virtual Private Servers

Institutional cryptocurrency connectivity provider, Market Synergy has launched a cloud-based VPS (Virtual Private... Read more »

Amun AG choosing Solactive to provide Index Calculation for the World’s First physically backed Bitcoin and Ethereum ETP

Solactive is pleased to announce that Amun AG, the issuer the first two physically-backed crypto-currencies single-coin exchange-traded products, Bitcoin (BTC) ETP [... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App