by
Martin Banks
Tokenbox is a comprehensive system being designed to supply all the trading and compliance infrastructure needed to easily create new investment funds specialising in the fast-evolving cryptocurrency asset class.
It was announced last week that the Tokenbox's Initial Coin Offering (ICO) is scheduled to start October 24 but until now few details of the venture have been released. However, speaking at a major industry conference, its co-founder Viktor Shpakovsky said Tokenbox is designed to serve the needs of fund managers and traders, on the one hand, and investors on the other. "Today we have a lot of people who are interested in investing in crypto assets, and a lot of people interested in doing fund management," he told the three-day Blockchain Solutions Forum taking place in Barcelona. "What problems do funds and traders have? No tokenisation. No smart contracts. Legal issues. Not much professional software. Little or no money under management. What problems do investors have? Shady funds and traders. Hidden portfolios. Lack of choice. Security issues. No fiat gateway. Tokenbox is an ecosystem aiming to solve all these issues at one place."
Shpakovsky told the conference that traders and funds will be tokenised through the system's web interface and be legalized through the system's umbrella licence. They will then gain access to a large community of already Know-Your-Customer, or KYC, authorized investors. Meanwhile, for their part, investors will get access to a wide range of funds and traders, which have already gone through all the Tokenbox's strict due-diligence procedures.
Shpakovsky, his business partner Vladimir Smerkis and their team are developing Tokenbox partly based on their experience creating The Token Fund, one of the first successful crypto asset funds. The fund, launched in March and priced at $10 per token, is now valued at about $40 per token. With the Tokenbox ICO, the venture will offer a maximum of 31 million tokens at $1 each. The crowd sale is scheduled to begin October 24. Tokenbox's token symbol will be TBX.
During the presentation to the conference, Shpakovsky also said that a major emphasis is on the system security. Tokenbox' partner company Group IB, an internationally recognised cybersecurity firm, is responsible for this. He pointed out that Ilya Sachkov, Group IB's CEO, is among Tokenbox's advisors, alongside renowned fintech expert Chris Skinner.
By: N. Peter Kramer
