The blockchain-powered tokenized commodities platform, TradeCloud announced plans to host an STO in the coming weeks. The company seeks to raise $42 million in two separate crowdfunding rounds. If successful, the funds will go towards further development of the firm’s all-inclusive tokenized commodities platform.
The developers behind the project want to simplify the commodities market through the use of a blockchain system. The firm combines all aspects of commodities trading into an easy to access web platform. In this way, TradeCloud can reduce costs and improve trade efficiency over the status quo.
TradeCloud isn’t new to the tokenized commodities sector by any means. The firm currently serves the metal commodities industry exclusively. The platform has seen great success to date, TradeCloud handled over a $1 billion USD in metal commodities trading since 2017.
TradeCloud via Homepage
Now, company executives want to expand the platform into both the energy and agricultural sectors. This move would propel the platform to new heights. Analysts peg both of these sectors to have huge growth potential. Together, these sectors equal over $8 trillion in trades yearly.
TradeCloud combines the full commodities trade cycle into its online portal. The platform combines KYC and compliance with consumers, traders, and producers. The firm creates an all-inclusive digitized commodities ecosystem.
Here, traders and businesses can meet in a secure manner and conduct trades 24 hours a day. Importantly, the platform maintains regional regulatory compliance across the lifecycle of the tokenized commodities.
Discussing the platform’s strategy, TradeCloud CEO, Simon Collins described TradeCloud’s approach as “unparalleled.” He went on to describe how the platform facilitates efficient price discovery and optimal allocation of scarce resources. He finalized his interview explaining the importance of digitalizing the full trade cycle of commodities.
TradeCloud STO Details
TradeCloud’s STO is slated for a July 1, 2019 start. Importantly, round one will offer investors a chance to purchase 25 million tokens. The company seeks to secure $20 million in stage one of its STO. In the same interview, the company’s COO, Mathew Botell, explained that token holders receive profit shares from the company for their participation in the event.
Participating investors will receive their tokenized shares in the form of TC Tokens. These tokens are to be audited and issued through a Swiss subsidiary. Additionally, these tokens will be convertible into internal payment units via smart contracts.
TradeCloud entered the market in 2016 with the goal of simplifying the complex commodities trading procedures currently in use. The company is based out of Switzerland. As a Swiss-based firm, the company enjoys a blockchain-friendly government and regulations.
Notably, the firm is also funded by its Founders. Today, Tradecloud boasts over 240 enterprise clients. Additionally, the platform has over 500 users in 35 countries.
TradeCloud is Going to Make it Rain
TradeCloud continues to position for the digitized economy. Now, investors have the ability to utilize blockchain technology to simplify the commodities trading experience. You can expect to see TradeCloud become a major player in the market as the platform continues to expand.
David Hamilton is a full-time journalist and a long-time bitcoinist. He specializes in writing articles on the blockchain. His articles have been published in multiple bitcoin publications including Bitcoinlightning.com