Vaultbank expedites development of the Vaultbank Platform; opens office in India, hires 16 engineers and partners with major payment processors to provide for the use of over 120 fiat currencies
SAN FRANCISCO, June 21, 2018 /PRNewswire/ -- In an effort to accelerate features and offerings of the Vaultbank Platform - currently in beta mode - Vaultbank, an innovative financial services company headquartered in San Francisco, has opened an office in India, hired 16 engineers and partnered with leading payment processors.
Vaultbank is leading the convergence of traditional investment offerings with digital assets using blockchain technology. The Vaultbank Platform will allow users to create, issue and trade utility tokens, security tokens, asset-backed tokens and other financial instruments, as well as allow exchanges between digital assets and over 120 fiat currencies.
Vaultbank has been working with regulatory agencies and other governmental bodies to acquire necessary licenses comply with strict KYC/AML, FATCA, and accreditation requirements in jurisdictions all over the world. Vaultbank's focus on compliance and cybersecurity has also led to banking relationships with leading U.S. financial institutions.
Austin Trombley, Founder of Vaultbank and Vice President of Financial Innovation for Franklin Templeton, shares: "With over 120 fiat currencies, we can truly support a global customer base. Our payment and banking relationships link our platform and e-wallets to the traditional banking space and fiat conversion, allowing customers around the world to transact with each other, facilitating the payment of merchants with digital assets."
To advance these goals and further its international reach, Vaultbank has opened an engineering office in Bengaluru, India and hired top blockchain, security, iOS, Android, development operations and full stack development engineers. Atul Patil, Vice President of Engineering at Vaultbank, confirms: "Our expanded team will support the complex needs of our business and rigorously test and improve our products as we go to market."
As a pioneer in the field of tokenization, Vaultbank has issued and sold its own security token, the VB Token, a digital asset backed by non-voting shares of Vaultbank held in equitable trust, to select early investors. Aaron Travis, COO of Vaultbank, notes: "We are excited to be innovators in the security token space and have executed on our vision for Vaultbank to be a tokenized company. The VB Token was offered in compliance with securities regulations and utilizes built in compliance safeguards."
A tiered global rollout of the Vaultbank Platform is scheduled to begin in the third quarter of 2018. Prospective users are invited to join the waitlist on Vaultbank's homepage at vaultbank.io.
ABOUT VAULTBANK
Vaultbank
Vaultbank is a FinTech company innovating the convergence of two worlds - traditional investments and digital assets. Vaultbank utilizes blockchain technology to create, issue and trade financial instruments through a single platform. By providing the next generation suite of financial services, Vaultbank will allow for the buying, selling, and spending of cryptocurrencies and tokenized securities on web-based and mobile platforms.
For more information visit https://vaultbank.io
The Vaultbank Platform
The Vaultbank Platform intends to be the first platform to facilitate the global trading of both utility and security tokens. Vaultbank has been working with regulatory agencies and other governmental bodies to acquire necessary licenses and comply with strict KYC/AML, FATCA and accreditation requirements in jurisdictions all over the world.
The VB Token
Vaultbank intends to generate profits and distribute dividends to VB Token holders. The VB Tokens representing partial ownership stakes in Vaultbank and its VB Fund and are backed by non-voting shares of Vaultbank held in equitable trust.
The Vaultbank Board of Directors
The Vaultbank Board of Directors includes former BlackRock CIO Ken Kroner, VP of Innovation at Franklin Templeton Austin Trombley, former Third Point Capital Partner Keri Findley, former MasterCard Head of Digital Commerce (MEA) Aaron Oliver, and Gyft co-founder CJ MacDonald.
MEDIA CONTACT: John Nahas, [email protected] +1.818.438.9707
Disclaimer: Vaultbank refers to a group of companies that includes Vaultbanc Ltd., a Singapore public company limited by shares, and certain of its affiliates. This press release is neither an offer to sell nor a solicitation of an offer to buy any securities in the United States or elsewhere. Some of the statements in this press release may constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts. These statements include those relating to our expectations, estimates and intentions regarding our business and our industry, and are generally identified by the words "expects," "intends," "anticipates," believes," "plans," "will be" and similar expressions. Readers are cautioned that forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond our control. Other than as required by law, Vaultbank does not undertake any obligation to update or revise any forward-looking statements. Vaultbank is not a bank as defined under the Banking Act of 1933 or any other applicable law in the United States, Singapore or elsewhere.
SOURCE Vaultbank
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