SINGAPORE / SAN FRANCISCO — JANUARY 25, 2018 — Vaultbank (www.vaultbank.io), the next-generation suite of financial solutions, has announced the upcoming launch of the Vaultbank debit VB MasterCard, which supports cryptocurrency transactions. Vaultbank’s debit VB MasterCard is compatible with point-of-sale terminals, offering card holders the ability to spend various cryptocurrencies and may eventually be able to spend Vaultbank (VB) tokens. Vaultbank’s debit VB MasterCard will be available to U.S. and E.U. customers upon the conclusion of its token sale. The token presale launched January 17, 2018 and will stay open until February 17 or until $20 million USD is raised, at which time the public sale will begin.
“The difficulty of using cryptocurrencies to pay for everyday goods and services has been a major roadblock to mainstream adoption,” said Austin Trombley, President and CTO of Vaultbank. “With the Vaultbank debit card, we make it possible to conduct everyday transactions around the world using cryptocurrency, facilitating a major step forward in the future of money.”
All Vaultbank debit card cryptocurrency-to-fiat transactions will be completed through the Vaultbank Exchange, allowing MasterCard and other future processors to not “see” the cryptocurrency being used. The Vaultbank Exchange intends to offer trading of top utility tokens, as well as potentially act as a launching and trading platform for security tokens and securities like Mutual Funds, all at low rates.
Vaultbank is running its VB token sale with CrowdEngine. CrowdEngine is a compliance automation solution that enables entrepreneurs to launch their own funding website and supports all offering types in the United States including Regulation D, Regulation S, Regulation A+, Regulation CF, and most new intrastate regulations. CrowdEngine also supports SAFTs and ICOs with their new blockchain technology. CrowdEngine was the first to launch intrastate equity crowdfunding websites in compliance with new intrastate regulations in Michigan and Arizona, and is the only white label solution for Regulation CF. CrowdEngine’s turnkey private label solutions increase speed to market, reduce costs, increase security and compliance, and delight customers across nearly every industry – from financial services, technology, real estate, non-profit, and others.
VB tokens are asset-backed, as they are linked to the Vaultbank Exchange, the Vaultbank debit VB MasterCard program, and the Vaultbank Fund. The Vaultbank Fund will consist of secured credit assets and provide the main asset-backing of each VB token, which intends to pay, but does not guarantee payment of, quarterly dividends in Ethereum by the end of 2018.
Vaultbank’s board of directors includes, to name a few, former BlackRock CIO Ken Kroner, former Third Point Capital partner Keri Findley, former MasterCard Head of Digital Commerce (MEA) Aaron Oliver, Gyft co-founder CJ MacDonald, and former Bank of America Managing Director Mike Gay.
Vaultbank, part of a group of companies incorporated in Singapore as Vaultbanc Plc. and headquartered in San Francisco, is a global investment firm committed to sound financial investment and technological advancement. Vaultbank was developed by a group of engineers and asset managers who came together to solve three major issues facing cryptocurrency today: daily usability, high transaction expenses, and the volatility of tokens lacking asset backing. The company offers a secured asset fund, a cryptocurrency-enabled debit MasterCard, and is developing the Vaultbank Investment Exchange and Wallet to simplify the use and adoption of cryptocurrencies globally. For more information visit https://vaultbank.io