NEW YORK, Nov. 9, 2018 /CNW/ - BANKEX's recent registration in Malta has paved the path to the first sale of BANKEX tokens to a leading institutional investor on the financial assets market. The tokens that are now in the possession of this financial powerhouse are time-locked and will be used within the framework of the BANKEX STO. With this success, BANKEX is now focusing on its main infrastructure services and tech: BANKEX Custody Service, BANKEX Token Exchange, Ethereum Plasma Prime, and an STO framework. Since BANKEX's founding as a startup in 2015, it has formed a final award-winning team, established strategic partnerships, and has had its token listed on important exchanges. But it is worthwhile to look back to see just how the company transitioned from startup to major player and the tech that powered it all.
Fintech company BANKEX was founded in 2015, when it provided Know Your Customer (KYC) services to banks, developed chatbots, researched markets, and participated in and won hackathons. Then, in 2017, the company began to focus on developing the Proof-of-Asset Protocol to unify Banking-as-a-Service product modules and blockchain technology.
To make this new unification a reality, BANKEX initiated a token sale. This was ranked among the most anticipated and successful sales of 2017 according to an independent ranking from Entrepreneur media. Shortly thereafter, in February 2017, BANKEX signed a partnership with Microsoft to develop blockchain technology.
Now after this period of successful development, the BANKEX team is formed, the services are tested, and the burn rate is limited to operating expenses - salaries and office rent, specifically. Here's where BANKEX has focused.
BANKEX Custody Service
One of these services, BANKEX Custody Service, is the first crypto depository that has no minimum deposit limit and offers complete protection from the three main threats to safe cryptocurrency storage - key loss, physical damage, and online attackers.
BANKEX Custody is a bank-like depository offering client service and KYC features. In BANKEX Custody, customers have to provide identifying information just as they would at a bank, thus making it possible for accounts to be restored.
BKX is not a dividend-bearing token. Instead, BANKEX offers a model wherein possession of its tokens gives users perpetual free access to its services. This is a lot like a subscription to web services, except that payment is only made once, instead of on a regular basis. Service users owning tokens reduces the amount of tokens in circulation, and thus results in a profit for token-holders.
BANKEX Token Exchange
The next important development is this new BANKEX trading platform. It will become the key element within the framework of the BANKEX Security Token Offering (STO) and support trades within the secondary market.
This new platform enables not only the trade of BTC and ETH basic pairs, but also the trade of complex security tokens connected to real-world assets. BANKEX Token Exchange will serve as a second market for security tokens and will support tZero tokens, ST-20 tokens, and ERC-888 security tokens from BANKEX that incorporate KYC verification methods. The trading platform stores assets in BANKEX Custody Service. Keeping assets in the cold storage of Custody Service will ensure that assets won't be stolen and will help prevent any business difficulties that could arise from insecure storage.
BANKEX Digital Deal
BANKEX Digital Deal is the next product that will transform traditional businesses into digital ones. It is clear that businesses that disregard the importance of digitization will perish. BANKEX can help keep business competitive with its Digital Deal, which will prepare a business for tokenization, taking the documents and records establishing the basis of business and digitizing them so the business can move forward into the digital world.
Deal for Enterprise is a traceability solution within the BANKEX Supply Chain framework established on the public Ethereum blockchain. Privacy is ensured by BANKEX's Supply Chain Wallet, which empowers the connection of private keys to employees' roles in the Supply Chain system as well as access to common functions of their smartphones, such as taking photos or providing locations.
BANKEX Security Token Frameworks
These previously mentioned services complement the next BANKEX development: the BANKEX Security Token Framework. BANKEX is the first company that offers a complete STO framework throughout a security token's full life cycle - including the digitization, issuance that meets both KYC and AML requirements, secondary market trading, and burning. In order to ensure a token's liquidity and mitigate risk, BANKEX offers the opportunity to securitize tokens by combining them into slates.
These BANKEX products and services, including products and services not listed here, are also used to interact with BANKEX digital assets such as MediaToken, Franchise Token, and Real Estate Investment Trusts (REITs).
BANKEX is a global top-20 fintech company developing the Proof-of-Asset Protocol to bring Banking-as-a-Service (BaaS) product modules and blockchain together to enable digitization, tokenization, and exchange of assets for the full development of a tokenized global ecosystem. BANKEX infrastructure services and technologies include STO Framework, Custody Service, BANKEX Token Exchange, Ethereum Plasma Prime, Supply Chain, and Digital Deal on the Ethereum blockchain.
For further information: on this and other press release topics, contact: BANKEX Head of PR, Maria Zvyagintseva, +1-908-377-8381, e-mail: [email protected]