Cryptocurrency Startup VRBex is Launching U.S. Regulatory Compliant Cryptocurrency and Security Token Exchange

One of the challenges facing cryptocurrency investors is finding safe cryptocurrency that meets complex government financial regulations. Headlines are filled with  U.S. Securities and Exchange Commission (SEC) hunting for fraudulent initial coin offerings (ICOs). Late last year, SEC issued a statement about its position regarding cryptocurrencies and ICO. “A number of concerns have been raised regarding the cryptocurrency and ICO markets, including that, as they are currently operating, there is substantially less investor protection than in our traditional securities markets, with correspondingly greater opportunities for fraud and manipulation,” SEC said in the statement.

With the launching of new ICOs every day, it is very difficult for any potential investors to know which ones are safe to invest in. Just last week, the New York Attorney General launched inquiry into cryptocurrency exchanges. The is not uncommon for any new technology. There are still unknowns. Cryptocurrency investment comes with very high rewards. At the same time, cryptocurrency investing is filled with many risks and landmines. New cryptocurrencies, smart contract services, digital miners, and cryptocurrency investors need to do a due diligence as they navigate through complex financial cryptocurrency regulations and the legal ambiguities of this emerging digital market. That is one of the problems a new startup is trying to solve. The startup aims to do heavy lifting with a plan to launch U.S. regulatory compliant cryptocurrency and security token exchange.

VRBex is a US-based cryptocurrency startup founded by financial-services professionals that intends to operate a cryptocurrency exchange and security-token trading platform. The company also announced the launch of the company and an initial security token offering (ISTO) today for potential investors. The announcement was made by VRBex CEO, Gene Grant. Grant and COO David Powell believe that token holders represent an interested and motivated group of future customers who are looking for robust and secure cryptocurrency and security token exchange platforms built to withstand the rigors of the highly regulated financial-services marketplace. As such, VRBex is led and operated by professionals accustomed to working within the highly regulated environment of the traditional financial market.

VRBex’s company founders sought to design VRBex to be a safe, trusted, and robust financial services company for the exchange, storage, trading, and payments associated with cryptocurrencies, and, in a parallel effort, similar services related to security tokens. The VRBex business platform will initially provide a mechanism for the two-way exchange of US$ for select cryptocurrencies (such as Bitcoin, Ether, and Bitcoin Cash), and will then seek to expand the list of convertible assets; a platform for the trading of security tokens; and digital VRBex wallets for customers to hold their balances in fiat currencies, cryptocurrencies and security tokens, in each case, once proper licensing, custody regulations and other requirements are complied with.

“Once the cryptocurrency market value exceeded $750 billion it represented the emergence of a new financial asset class,” Grant said. “This is a powerful and clear confirmation that cryptocurrencies are viable. The seven-person VRBex management team brings more than 200 years’ combined experience working in highly regulated environments. Building financial services business, and adapting to ongoing regulatory and compliance changes, have been key components of our professional careers.”

“VRBex is purpose-built to help investors navigate the fast-moving world of cryptocurrencies and security tokens, and we welcome sound regulatory oversight because it brings confidence to the market,” Powell added. “As more mainstream customers enter this marketplace, the importance of investor protections and financial security will increase. The sheer scale of the market cries out for the protections and lessons learned from our many years of experience in the traditional financial markets.”

About 135,000,000 VRBex security tokens will be made available for purchase with Bitcoin, Ether, USD or Euros. Interested investors that satisfy the applicable suitability standards are invited to register for the token pre-sale at VRBex.io. VRBex seeks to be fully compliant with the laws and regulations of the U.S. and with any additional jurisdictions in which it transacts future business.

Customers who pre-register on the VRBex.com website will receive 30 days of commission-free trading activity on the VRBex cryptocurrency platform when it is made available. The commission-free period commences after completion of customer registration, and the offer expires 90 days after the formal launch of the VRBex exchange.

VRBex Tokens will be offered to selected investors in a pre-sale offering (the “Pre-Sale”) that commences today. Following the Pre-Sale, VRBex Tokens will be offered in an offering (the “Main Sale”) that is expected to commence on June 18, 2018.  The VRBex team has extensive experience implementing complex regulatory and operational risk-remediation programs for top global banks. VRBex specializes in managing the rigors and challenges found in the highly regulated environment of the traditional financial sector.

Grant has held senior executive and consulting roles for various global banks and investment firms, including Deutsche Bank, Barclays Capital, Merrill Lynch, Citigroup, UBS, Standard Chartered Bank, ANZ bank, and PIMCO. He was most recently a managing director at BBVA.

Powell has more than 30 years’ experience in financial services and has participated in multiple business line startups, including the merger and integration of acquired financial institutions. One of his most recent roles was as executive committee member of BBVA Compass Bank and co-head of the U.S. Corporate & Investment Bank Division.