BANKEX, the decentralized Bank-as-a-Service (BaaS) Enterprise, has announced the launch of its Public Token Sale, commencing today at 12pm EST and concluding December 28, 2017. Using proprietary fintech solutions, BANKEX aims to bridge the gap between the emerging blockchain sector and traditional finance. Deploying smart contracts and enabling tokenization, the platform powers off-balance sheet crowdfunding, chain finance and leverages external infrastructure to create efficient and time effective solutions. BANKEX will issue BKX tokens on the Ethereum blockchain.
The BANKEX Token Sale will be capped at 400,000,000 BKX, with BANKEX previously collecting over $20,000,000 in its presale. The Token Sale will provide BKX tokens at a rate of 1 ETH = 500 BKX. 80,000,000 BKX will be available in the public crowdsale and 140,000,000 BKX will be reserved for institutional investors. The minimum purchase is 0.1 ETH. BKX Tokens are ERC-20 compliant.
Participants in the BANKEX Token Sale are welcome to use ETH, BTC, LTC, SALT and TIME to participate in the sale.
Token Sale proceeds have been earmarked primarily for software R&D and software development needed to realize the BANKEX Proof-of-Asset protocol (45%), company growth (15%), promotion of the PoA protocol and B2B marketing (10%), and other critical uses which are detailed on the company's website.
BANKEX has also become a member of the Enterprise Ethereum Alliance, a nonprofit alliance dedicated to supporting and promoting technologies and standards based on Ethereum. EEA members include financial and technology companies and funds such as JP Morgan, UBS, MasterCard, Microsoft, Intel and consulting companies such as Accenture. BANKEX is meanwhile honored to count Balanc3, а ConsenSys formation, as advisors.
"BANKEX is building an operating system for decentralised capital markets. The ultimate goal for our blockchain framework is to enable the realization of new types of asset classes that institutional investors have never considered because of the highly non-heterogeneous nature of these assets, their wide decentralisation and the high cost of financial and legal due diligence. The BANKEX protocol radically decreases these costs and connects traditional capital markets with historically non-fungible assets such as movie/music financing, private shares, local municipal debt and financing for stand alone real estate objects. All proceeds secured through our Token Sale will be used to help make this vision a reality and to ensure the success of all stakeholders involved in the BANKEX project," said BANKEX CEO and Founder, Igor Khmel.
With its Head Office in New York, business development office in Singapore, strategic partnership in Tokyo and engineering team in Moscow, BANKEX offers innovative fintech products and services with far-reaching implications, including applications within the traditional finance and investment sectors, micro-financing, real estate as well as access to historically illiquid assets, natural resources, and futures markets.
BANKEX has already announced a collaboration with MovieCoin LLC. Led by film financier Christopher Woodrow, MovieCoin LLC is aiming to raise $100 million during 2018 to produce a portfolio of movie projects. By utilizing smart contracts and BANKEX's proprietary Proof-of-Asset protocol (PoA), MovieCoin LLC will allow institutional and individual investors to invest in the motion picture industry.
The BANKEX advisory board includes a number of noted tech innovators and renowned academics including Chris Skinner, Chairman at the Financial Services Club; Griffin Anderson, Founder of Balance3, a ConsenSys formation; Peg Reed, COO of Forex Development Corporation; Sergey Sergienko, Founder and CEO of Chronobank; Makoto Takemiya, Co-Founder and Co-CEO of Soramitsu; Gabriele Columbro, Executive Director of Symphony Software Foundation; and Peter Crampton, Professor of Economics at the University of Maryland.
BANKEX has also formed a number of strategic partnerships with prominent industry players including Microsoft; Group-IB, a leading provider of cybersecurity solutions; Symphony Software Foundation; Soramitsu; the Entrust Group; Chronobank; and the Moscow Exchange (MICEX).
"We believe that collaboration between traditional financial institutions and fintech innovators is the way forward for both sectors. The current banking system is slow and stifled by legacy issues, while at the same time the emerging fintech industry lacks scalability. Combining the strengths of traditional finance and fintech solutions will lay the foundation for a new global economy defined by diversity, security, and previously unknown dimensions of efficiency and transparency," concluded Khmel.
BANKEX representatives are available for comments - contact BANKEX
BANKEX uses standardized fintech solutions within its decentralized Bank-as-a-Service enterprise with the aim of bridging the gap between the emerging blockchain sector and traditional finance. Deploying smart contracts and enabling tokenization, the platform powers off-balance sheet crowdfunding, chain finance and leverages external infrastructure to create efficient and time effective solutions. BANKEX offers innovative fintech products and services with far-reaching implications, including applications within the traditional finance and investment sectors, micro-financing, real estate as well as access to historically illiquid assets, natural resources, and futures markets.