VRBex, a cryptocurrency exchange that prides itself on global compliance, has enlisted Entoro Capital to manage VRBex’s offering of up to $100 million in a preferred-equity security token offering (STO). The $100 million funding round was first revealed earlier this week in a Reg D 506c filing with the Securities and Exchange Commission.
VRBex says that Entoro will manage the share-sale process and will advise and assist VRBex in raising capital and will assist in identifying and evaluating potential STO investors. The company is targeting the global investment community and the offering will be available for investment through various exemptions and regulations currently in effect in the United States, Canada and other jurisdictions around the world.
VRBex launched its pre-sale token offering on April 23 and is building a regulation-compliant financial services company for buying, selling and storing cryptocurrencies, security tokens and fiat currencies. The VRBex executive bench has extensive experience in banking, institutional investing and regulatory compliance.
Gene Grant, CEO of VRBex, called the offering a momentous shift in the digital asset landscape noting this was the “first time a traditional investment bank has been retained to sell security tokens.”
“Our vision is to bring traditional investors into the cryptocurrency space,” said Grant. “As such, Entoro isthe 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.”
James C. Row, Managing Partner at Entoro, called preferred equity security tokens a new form of investment.
“This partnership mixes the new, digital currency, and the old—in the form of traditional safety and security for investors.”
The offering proceeds will fund the regulatory compliant corporate structure and development of these digital platforms and related activities.
VRBex says it plans to invest in the technology, processes, and controls required to construct business platforms that offer best-in-class service to its customers, encompassing robust, legal regulatory compliance, management with substantial financial-services experience, state-of-the-art cyber security and corporate best practices.
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