Vaultbank has announced the upcoming launch of the Vaultbank Exchange, a decentralized utility token and security token supporting exchange.
Vaultbank will also run an investment fund that will serve as the main asset-backing for Vaultbank’s (VB) private security token, and the company is currently in negotiations with select major payment processors for a crypto debit card program. The Vaultbank (VB) token presale, launched on January 17, 2018, will stay open with a discount until February 17 or until $20 million USD is raised, at which time the public sale will begin.
The Vaultbank Exchange, built on Ripple for its fast trading speeds, intends to offer lower trading fees, investor verification and compliance, and maximum security along with enabling users to be in complete control of their private keys and all deposits and withdrawals. The Vaultbank Exchange will not only serve as a trading platform, it will also be a launching pad for new securities coming to market. The Vaultbank Exchange is scheduled to be delivered in Q1 2018, with a soft beta launch by the end of February.
We are seeing centralized exchanges being hacked, and also extremely high exchange fees being charged,” said Austin Trombley, President and CTO of Vaultbank. “We are developing the Vaultbank Exchange to offer enhanced security, lower transaction fees, and the ability for institutions to bring securities-like mutual funds to market through our platform, in full compliance with KYC, AML, FATCA, and other investor verification requirements.
Vaultbank is executing its VB token sale with CrowdEngine, a compliance automation solution that supports compliant token sales in the United States using Regulation D, Regulation S, Regulation A+, and Regulation CF. CrowdEngine has been providing compliance technology, including international KYC and US investor accreditation services to leading companies worldwide since 2014.
VB private security tokens will be asset-backed by the Vaultbank Fund, which will consist of secured credit assets. VB token holders will participate in future earnings of Vaultbank’s business lines including but not limited to the Vaultbank Fund, the Vaultbank Exchange, and the Vaultbank debit card program, through potential quarterly dividends as well as potential proportionate ownership distribution in the event of a company sale. Vaultbank intends to pay, but does not guarantee payment of, quarterly dividends in Ethereum by the end of Q2 2018.
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, former Bank of America Managing Director Mike Gay and other experts from across the financial services and technology sectors.