The blockchain startup, VVToken, has announced that its financial solution has raised over 6 million in the course of 6 weeks since it began the presale for its upcoming ICO. To date the pre-sale has attracted a diverse audience, bringing in experienced crypto investors and a variety of others who have decided to become early backers of the project.
Following the pre-sale, the official VVTOKEN crowdsale will open at 12:00 p.m. EST on December 5, 2017 — with funds raised from the ICO being used to further develop and launch its new blockchain consumer platform, CyberBank™. VVTokens aims to raise up to US $22 million in a token sale to deploy a platform offering payment security and mobile affordability, one that leverages the security and trustless nature of the blockchain while delivering financial appreciation to cardholders.
The platform will utilize VVToken’s C*Commerce financial algorithm, which acts as a dynamic link between cryptocurrencies and fiat currency. VVTokens will initially introduce two CyberBank-based products built on the C*Commerce platform that will “revolutionize electronic connectivity between fiat coins, cyber-currencies,” and will aim to add value to user purchases by delivering bonus points based upon their so-called “Smart Invest algorithm.”
VVToken will deliver two principal products on the C*Commerce platform: the CyberBank Platinum Debit Card and the CyberBank Black Card. The Black Card is a debit card that targets underbanked people who are typically lower-income consumers restrained by the cost of services and don’t have a debit card or bank account due to their personal financial situation.
The other product is the CyberBank Black Card, a cryptocurrency-based debit card for people who want to minimize or eliminate intermediaries in their financial transactions. In addition, the CyberBank Black Card will allow for a near-instant transfer of value into and out of numerous currencies or for the exchange of value in a private and secure manner.
The main technology behind both of these products is VVChain, VVToken’s blockchain, a digital ledger in which transactions made in Bitcoin and Ethereum or other cryptocurrencies are recorded chronologically and publicly. These transactions are leveraged by VVToken’s C*Commerce algorithm to deliver additional benefits and points to all users.
To fund the ongoing development of the platform, VVTokens will hold an ICO event. The company plans on using the capital raised as a means of funding the development of their platform, including the two main products it will be initially offering: the CyberBank Platinum Debit Card and the CyberBank Black Card.
According to the project’s official website, the official ICO will begin on December 5, 2017, at 12:00 pm EDT and will remain open for 30 days or whenever the 1,500,000,000 VVTokens have been sold and the hard cap, the upper fundraising limit of $22 million, is reached — whichever occurs first.
To find out more about VVToken, visit the Website.
Images courtesy of VVToken
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