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InvestReady tackles Investor Onboarding with ‘Instant Income’

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InvestReady tackles Investor Onboarding with 'Instant Income'

Instant Income

InvestReady has recently announced the launch of a new solution known as ‘Instant Income’. With the continued growth of the digital securities sector, the importance of investor verification and accreditation services has become increasingly important.

Instant Income addresses this through established partnerships, allowing for the investor onboarding process to be cut down to a process taking mere minutes.

API by Verix

The launch of Instant Income was made possible not only due to hard on the part of InvestReady, but through the integration of outside services. More specifically, this refers to software developed by Verix.

Referred to as a ‘tax return transcript API’, this provides users (InvestReady), with the ability to immediately access IRS tax data. This is important for investor onboarding, as it provides InvestReady with a more thorough look at the eligibility of said investors.

*An API refers to an ‘Application Program Interface’. An API enforces pre-set rules for outside interaction with a platform*

Commentary

Upon announcing ‘Instant Income’, representatives from a variety of companies that have worked with InvestReady took the time to comment. The following is what both InvestReady and a few of these companies had to say.

Adrian Alvarez, CEO of InvestReady, states,

“The ability to verify users within seconds at scale is a huge step forward for this industry and will open the doors for more issuers to utilize the 506c exemption given that this eliminates the huge barrier of compliance time delays for both issuers and investors.”

Ben Prawdzik, CEO of Verix, states,

Our Partnership with InvestReady is a great step forward in our mission to build the future of financial identity verification. Verix offers effectively 100% VOI coverage in the US, real-time data, and deep detail across all income types (W-2, 1099, K-1, and more). InvestReady’s focus on building the best technology offering in their industry fits perfectly with our long term goals and we’re very excited to help power their instant income service.”

Jimmy Bingham, SVP of PrimeTrust, states,

“As we enter this new Era of on-demand digital real estate investing, the demand for better automation with increased speed to market capabilities is not only desired but one of necessity. InvestReady’s Instant Income service is another big upgrade for the industry in general and will directly improve, not to mention simplify, the investor experience. The industry now has an end-to-end turn-key accreditation service that provides the speed we need, the compliance we require, and low per unit costs. It’s the ultimate trifecta.”

InvestReady

Launched in 2013, InvestReady is a U.S. based company which maintains headquarters in Miami, Florida. In the time since their launch, the company has managed to develop a variety of solutions surrounding both the verification and accreditation of investors. The advent of blockchain has seen InvestReady establish various in-roads into the industrys, where their services are in high demand.

CEO, Adrian Alvarez, currently oversees company operations.

In Other News

Beyond the announcement of ‘Instant Income’, InvestReady has continued their work towards increased adoption. This was recently demonstrated in a partnership with Vertalo, which is discussed in the following article.

Vertalo and InvestReady to Address Verification / Accreditation

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Joshua Stoner is a multi-faceted working professional. He has a great interest in the revolutionary 'blockchain' technology. In addition to this, he is a licenced Paramedic in Nova Scotia, Canada. As such, he can provide emergency care/medicine to any situation necessitating it.

Security Token News

VeVue Signs Partnerswith CBX for Token Launch

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VeVue Partners with CBX Exchange for STO

The blockchain-based social media platform, VeVue announced plans to host an STO in the coming weeks. The company intends to expand the platform’s capabilities with the funds raised. Now content creators have a more lucrative alternative to consider moving forward.

News of the company’s intentions first broke via an October 14 press release. In the post, the company announces its new strategy and partnership. As part of the firm’s new crowdfunding approach, VeVue partnered with the hugely popular CBX exchange.

CBX Exchange

For its part, CBX will be responsible for the sales, token issuance, and distribution of the VUE token. CBX is one of the largest crypto exchanges based in the Middle East. The firm operates a fully compliant EU exchange. Developers integrated both AML and KYC protocols directly into its trading platform.

VeVue via Homepage

VeVue via Homepage

CBX recently launched a campaign with Alibaba competitor GoJoyin in which the platform secured over $10 million in funding. The experience gained in this campaign will be critical for VeVue STO’s success.

VUE STO

The VeVue STO will commence on October 28, 2019, at 4 pm PST. Interestingly, the event is scheduled to only last 48 hours. CBX intends to issue 5 million VUE tokens to qualified non-US investors. Vevue also announced that there will only be 100 million VUE tokens in total available to investors. Of these tokens, 35 million are reserved for investor purchases.

Vevue and CBX Unique Strategy

CBX and Vevue have a unique strategy for their crowdfunding efforts. The company intends to host an STO monthly moving forward. Additionally, these auctions will be Dutch-style. Basically, the official token price is set after taking in all bids.

Highest-Price VeVue STO

This strategy enables the firm to receive the highest price for the total offering. For example, investors place their bids which include the price and quantity they desire. The firm will then accept the top 5 million bids for the tokens.

VUE Token Benefits

VUE token holders receive a portion of gross revenue collected via the VeVue social media app. Consequently, investors actively earn from VeVue’s ecosystem. The App provides content creators with a revenue-generating outlet. Here, users can create and monetize content such as videos easily.

VeVue Transaction Fees

Vevue charges a 5% transaction fee on the monetized content. This fee then enters into the dividend pool from which STO investors receive payments daily. Importantly, dividends are paid in VUE tokens. This unique strategy encourages users to create high-quality content to earn more tokens.

Next Level Social Media

Traditional social media doesn’t allow users the opportunity to earn from their content contributions.  In fact, the current social media giants provide content creators with zero payment for their efforts.

Social Media Heat

VeVue’s timing is impeccable as social media giants such as Facebook continue to confront lawmakers over a myriad of concerns. Facebook, in particular, appears to be in the target of regulators after announcing plans to issue its own native cryptocurrency called the Libra.

A Better Social Media Alternative

VeVue appears to have unlocked a better way to social media for everyone. Providing users with an opportunity to earn tokens for their content is a smart concept that has proved to be a great alternative in the past. You can expect to hear more from VeVue in the coming weeks as its STOs hit the market.

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CFTC Labels Ether a Commodity

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Ether is a Commodity

The crypto community got some exciting news this week after the Commodity Futures Trading Commission (CFTC) Chairman stated that Ether (ETH) is a commodity. The news follows similarly worded statements from SEC officials in the past.

The news came via an Oct 10 statement from acting CFTC Chairman Heath Tarbert. In the post, the Chairman announced that he believes Ether is not a security at this time. The news comes at a critical point in Ethereum’s development.

The news is a huge win for the Ethereum community. Currently, Ethereum is the second-largest cryptocurrency in the world by market cap ($20 billion). The ruling is important because it means Ether falls under CFTC regulations and not SEC securities regulations. Consequently, the decision allows financial institutions to offer a wide array of new products and open up entirely new markets moving forward.

Ether Futures and Derivatives

In the past analysts pointed out that the Ether derivatives market suffered due to the lack of transparency. Tarbert now says that you can expect to see both Ether futures and derivatives markets in the very near future. Surprisingly, he stated that these financial tools would hit the market in less than a year.

Ether Creator Vitalik Buterin via Medium

Ether Creator Vitalik Buterin via Medium

Transformative Token

According to the Chairman, Ether is a case of a transformative token. Basically, the token started as a security during the ICO event. At that time the enterprise was playing a controlling role over the digital asset. As time progressed, the Ethereum enterprise faded to the background as the cryptocurrency decentralized. Now the token serves as a utility.

Reverse Securities

Additionally, Tarbert described the reverse scenario in which a utility token slowly develops into a security. In this situation, you start off with a fully decentralized organization. Over time, the enterprise steps back in to take more control. Consequently, this creates a scenario where investors seek profits from the efforts of others. Now the token is a security.

Notably, SEC officials stated that they do not consider Ether a security in its current state. However, both the SEC and CFTC did point out that during the company’s ICO, Ether acted as a security. Luckily the SEC declined to fine the Ethereum development team for its ICO.

Bitcoin is a Commodity

Falling along this line of thought, Tarbert explained that Bitcoin is also a commodity. This statement coincides with the SEC’s decision to decline to label Bitcoin as a security. Analysts consider these actions as a precursor to this week’s news.

PoW to PoS

Also, Ethereum developers announced a shift from the Proof-of-Work (PoW) consensus algorithm to a more energy-efficient alternative, a Proof-of-Stake (PoS) consensus mechanism. PoS systems don’t require your PC to do heavy computations. Instead, users earn rewards for “staking” tokens in their wallets. In this manner, PoS tokens use far fewer resources.

Ether Moving Forward

The Ethereum community has much to celebrate moving forward. The cryptocurrency continues to see development across the entire sector. You can expect to see the Ethereum community expand as more ETH-based products enter the market in the coming months.

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SEC Seeks Input on ‘Boston Securities Token Exchange (BSTX)’ Proposal

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SEC Seeks Input on 'Boston Securities Token Exchange (BSTX)' Proposal

Launching Markets – BSTX

The Boston Securities and Token Exchange (BSTX) has recently filed a proposal for various rule changes with the SEC. These changes would allow for BSTX to launch what would be the market’s first digital exchange supporting full-fledged digital securities.

Joint Filing

The Boston Securities and Token Exchange is a by-product of a partnership between tZERO and BOX Digital. This pairing of companies launched the joint venture in mid-2018, with the intent to develop the first fully regulated digital exchange in the U.S.

BSTX is expected to utilize blockchain technology provided by tZERO, while BOX representatives work towards establishing regulatory clearance. With each providing different areas of expertise to BSTX, both tZERO and BOX have made it clear that this is a joint venture, with each having a 50% say.

Rule Change

The proposed rule change discussed here dates back to late June, 2019. At the time of the filing, it was viewed as having the potential to create a ‘rulebook’ for the operation of such exchanges in the United States. Only now, months later, is the SEC making the filing available for public commentary.

A few of the noteworthy attributes of their proposed exchange are as follows:

  • Asset ownership recorded using a private blockchain
  • Trading enabled through use of BSTX tokens
  • Whitelisted clients

At the initial time of its filing, we took a brief look at BSTX and their plans, including the use of an in-house token developed by the exchange.

Boston Security Token Exchange (BTSX) Seeks SEC Rule Change

Commentary

In their filing, made public by the SEC, the BSTX begins by outlining their plans and intentions for the proposed exchange.

“BSTX would operate a fully automated, price/time priority execution system for the trading of “security tokens,” which would be equity securities that meet BSTX listing standards and for which ancillary records of ownership would be able to be created and maintained using distributed ledger (or “blockchain”) technology.”

Boston Securities and Token Exchange (BSTX)

Operating within the United States, BSTX is a proposed digital securities exchange, which was founded in 2018. The company looks to become the first exchange of its kind, supporting full-fledged digital securities.

CEO, Lisa Fall, currently oversees company operations.

In Other News

Whether it be through the backing of others, or through their own endeavours, tZERO remains hard at work, establishing the digital securities sector.

We were recently fortunate enough to have interviewed tZERO CEO, Saum Noursaheli. In this exclusive interview we discuss past and future events pertaining to the company. Make sure to check out the following interview to learn more!

Interview Series – Saum Noursaheli, CEO of tZERO

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