LUXEMBOURG (PRWEB) November 22, 2017
CyberTrust, a Luxembourg-based financial services group, today announced that due to an excess of applicants, it has extended the initial funding round for its Crypto-Asset Backed Securitization (CABS) tokens to November 26th. With €11.42 million raised, the round is already oversubscribed.
CyberTrust’s new Open Securitization Platform, scheduled to launch in Q2 2018, will securitize crypto assets and offer crypto securitization as a service for the first time in history. The new CABS token will permit the securitization of one Bitcoin or the equivalent quantity of the 2 other leading cryptocurrencies at a cost of approximately 2-2.5%. This contrasts with a current cost of approximately 30-40% in the market.
CyberTrust CEO Scott Freeman commented, “We wanted to make sure that didn’t exclude anyone who applied to participate in this project from the outset, so we decided that an extension was the fairest approach. This will also provide our legal team with some additional time to accommodate the needs of several large investors.”
Minimum purchase amount for the extended closed round is approximately $20,000. Closed round participants can get up to 45% in bonus tokens if they opt to receive tokens frozen until March 2018.
The pre-ICO (‘Initial CABS Offering’) launch is now set for the 27th of November at 8:00am EST, lasting up to 3 days or until sold out. Those placing bids in the first 3 hours will be guaranteed to get a share of the available tokens.
Minimum purchase amount for the pre-ICO is 10 CABS tokens (approximately $2,000), but pre-ICO participants will receive a bonus of 10-20% depending on the total quantities bid for. Participants who pre-register and deposit funds prior to the start of the round can get an additional 5% bonus on token purchases made with these funds.
The ICO itself is set for 5th of December, also starting at 8:00am EST. Following the ICO completion, CABS Tokens will be listed on the cryptocurrency exchange C2CX in early January 2018.
CyberTrust Co-founder and COO Evgeny Xata added, “We will be announcing a significant partnership by early Q1 2018 with one of the largest financial service institutions from the U.S. on the launch of their first Bitcoin ETF fund, which will be based on Bitcoin Global Crypto Notes. This fund will be a significant step forward, and will provide significant demand both for our global crypto securities and for the CABS tokens.”
The CABS token will use the Ethereum blockchain and will be listed on major crypto exchanges. CABS token holders will be able to convert their raw cryptocurrencies into Global Crypto Notes (GCNs) as a traditional investment vehicle. GCNs will be fully titled and auditable in collaboration with Ernst & Young.
Global Crypto Notes will give their owners a legal claim to their assets, a critical feature which raw crypto doesn’t offer. Moreover, CABS token holders can use them not only to securitize Bitcoin, but also to securitize Ethereum and Bitcoin Cash. Each GCN will carry an ISIN allowing ownership and transfer via normal securities settlement channels.
CyberTrust is a financial services group providing sales, trading, research, and asset management services for institutional investors. It offers titled and auditable Global Crypto Notes as a traditional investment vehicle. The company’s mission is to open the crypto market to institutional investors who can use the Global Crypto Notes to buy, sell and short cryptocurrencies, as well as create derivative products. CyberTrust’s leadership team includes CEO Scott Freeman, founder of cryptocurrency exchange C2CX.com as well as Evgeny Xata, former Boston Consulting Group and founder of Russia’s largest digital publishing agency.
CyberTrust’s advisors include William D. Delahunt, a former U.S. Representative for Massachusetts's 10th congressional district, Marat Kichikov, the Managing Director of BitFury Capital, and David Gorodyansky, the CEO of AnchorFree Inc.
To learn more about CyberTrust and participate in the ICO, please visit the website at cybertrust.io.
Scott Freeman sf(at)cybertrust(dot)io,
Evgeny Xata, ex(at)cybertrust(dot)io
Phone: + 1 832 741 2008