Vaultbank Exchange Opens its Doors in Beta
Vaultbank, the next-generation suite of financial solutions, today announced the beta launch of the Vaultbank Exchange, the first decentralized exchange to allow trading of security tokens. Along with security tokens, Vaultbank supports trading of utility tokens and traditional investment securities like Mutual Funds. The Vaultbank Exchange is the first securities-compliant platform supporting KYC, AML, FATCA, and Accreditation.
Vaultbank 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. Built on Stellar technology, Vaultbank 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 to users, Vaultbank gives traders control over their private keys and requires triple-factor authentication. This ensures that no centralized entity owns users’ information making it susceptible to attacks.
“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.”
Vaultbank’s VB token public sale launched February 17, 2017. VB tokens are asset-backed, representing equitable interest in the Vaultbank Fund. The Vaultbank Fund will consist of secured credit assets and provide the main asset-backing of each VB token, which 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, and former Bank of America Managing Director Mike Gay.
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