VRBex, a financial services firm for the cryptocurrency market, has signed an agreement with Entoro Capital to gain support with its $100m security token offering (STO).
As part of the partnership, Entoro will mange the share-sale process. Through its relationships and contacts in the investor community it will also provide advice and assistance to VRBex with raising the capital by identifying and evaluating potential STO investors.
This offering will be available in the US, Canada and other jurisdictions around the world. Its pre-sale event launched on April 23rd.
Established in 2018, VRBex is building a regulatory-compliant financial services firm for buying, selling, and storing cryptocurrencies, security tokens and fiat currencies. The firm is hoping to create a secure and robust financial service with capabilities for custody, trading and payments of digital tokens, as well as a crypto trading exchange.
Proceeds from the sale will be used to support the regulatory compliant corporate structure and development of its digital platform. The company plans to invest in technology, processes and controls that will best support its customers, cybersecurity, and legal regulatory compliance efforts.
VRBex CEO Gene Grant said, “This is a momentous shift in the digital-asset landscape, as it’s one of the first times a traditional investment bank has been retained to sell security tokens. Our vision is to bring traditional investors into the cryptocurrency space.
“As such, Entoro is the perfect partner to introduce the VRBex investment to this class of investors who are seeking to diversify their investment exposure with cryptocurrencies. The investment community has been extremely supportive of alternate financing vehicles, and VRBex looks forward to participating in this new and rapidly evolving investment process.”
Earlier in the month, bitcoin and cryptocurrency mobile wallet BRD raised a $32m investment round from backers including East Ventures. The company also launched its Augustus solution which will enable consumers to receive, send and buy ERC20 tokens.
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