Remittance Utility Token engages LATOKEN for STO listing
REMCO Software, creators of a distributed utility token-generating platform for money transfer has announced an agreement to list its token on crypto asset exchange, LATOKEN, through a licensed broker. This agreement is an important foundation for the ongoing REMCO security token offering, one of the first security token listings in the world.
The tokens generated on REMCO’s distributed platform are programmable to allow authorized users to adapt them to their own business models. Authorized users can customize tokens in any fiat currency desired using simple APIs and operate a legal money transfer or stored value business. A blockchain records token validity, ownership, transaction histories, and balances.
REMCO’s parent company, VTNGLOBAL, INC. operates licensed and regulated money transfer businesses in several US states, and its technical understanding is built on years of remittance industry experience. Early in 2018, the company launched a tokenization method to terminate fiat into bank accounts and mobile wallets of recipients in real-time using a beta version of REMCO’s platform. This was initially off-chain, and in December 2018 it migrated to on-chain. Testing continues, including tokenizing over 150 currencies.
REMCO’s approach to the fundraising aims to protect investors rights, that is why REMCO has focused on the USA with Regulations S and Regulations D listings.
“With this new listing on the LATOKEN trading platform, the REMCO security tokens will allow smooth conversion between token and fiat, a characteristic vital to any token. “LATOKEN’s innovative approach appealed to us. There are many crucial steps to getting this business off the ground, and we appreciate reaching this milestone with LATOKEN.”
“We are especially pleased to welcome REMCO token in the pool of our future projects. Their business model is both practical and very innovative. It brings a great deal of added value to the industry,” said CEO of LATOKEN Valentin Preobrazhenskiy, who also chairs the organizing committee for the prestigious Blockchain Economic Forum, now in its third year, held in San Francisco (2018), Singapore (2018), Davos (2019).
