France-based crypto asset issuance platform Tozex claims to have created a brand new car for crypto financing that may supply companies a method ou
France-based crypto asset issuance platform Tozex claims to have created a brand new car for crypto financing that may supply companies a method out of the robust financial occasions as a result of pandemic — the ‘Believers Reward Providing,’ or BRO.
Tozex claims that the BRO includes “the primary sustainable different” to preliminary coin choices (ICOs) and safety token choices (STOs) — permitting companies to entry financing by borrowing stablecoins from traders worldwide.
BROs will save SMEs
The agency’s announcement makes grand claims for BROs, describing the BRO as an “anti-crisis enterprise answer.” The doc claims that the fundraising car will assist small to medium-sized enterprises “overcome robust financial occasions and open new financing prospects.”
BRO choices are performed utilizing Tozex’ blockchain-based crowd-lending protocol that leverages good contracts to autonomously and transparently execute loans tied to a borrower’s crypto collateral. Tozex claims that its system mitigates the dangers of value manipulation and exit scams which could be related to ICOs.
Regardless of BRO’s purportedly revolutionary design, Tozex will even supply ICO and STO companies.
Tozex co-founder Remy Ozcan mentioned he believes that token issuance automobiles just like the BRO will quickly increase past the blockchain sector and into the mainstream enterprise group.
Coronavirus crises encourage opportunism
Tozex is just not the primary, and possibly gained’t be the final, within the crypto area to make use of the COVID-19 pandemic in its advertising efforts.
In March, HashCash Consultants launched their ‘Corona Fund Index Cryptocurrency’, which was billed as providing the backing of an inverse-exchange-traded fund (ETF). Nonetheless, when Cointelegraph spoke to HashCash Consultants, it was revealed that the token had no backing and thus no purpose to correlate to an inverse ETF.