BitWhite (Bitcoinwhite) – the developer of the BTW platform, announced the launch of the campaign to conduct the world’s first transaction for the acquisition of the USA security papers (IBOE) using cryptocurrency.
BitWhite (Bitcoinwhite) – the developer of the BTW platform, which combines the best solutions of Bitcoin and Ethereum, announced the launch of the campaign to conduct the world’s first transaction for the acquisition of the USA security papers (IBOE) using cryptocurrency.
One of the main aims of the BitWhite company is to get the cryptocurrency into a space free from discrimination and restrictions on conventional markets of traditional and reserve currencies such as the Dollar, Euro or the English Pound Sterling.
That is why the pilot project was launched in the function of the world’s first transaction using BTW in the acquisition of a security papers instrument.
The transaction was successfully closed, and at present moment, work is carried out to create and test the platform, where each holder of BTW will be able to invest its funds in the USA security papers and other security papers. The deal amounted to $ 16’984’600 or the equivalent of 3’260’000 BTW (at the rate of $ 5.21/BTW).
Characteristics of the current IBOE package:
• Name: International Bill of Exchange IBOE
• Nominal cost: $100,000,000.00 (one hundred million USA dollars)
• Emitter: the USA Treasury
• IBOE No.: 2048
• Register number: UCC1 – 2009-2374894.152.
• Derivative number: 2009-2374894-38 (number of the registration file of the derivative financial instrument)
• File registration number by the USA Treasury: RC001182260US
• Serial No.: 2048
• Verification: UCC1 Register – 2009-2374894.152 (Kentucky)
• Payment period: 05.04.2020 (prolongation is possible upon agreement)
This transaction was conducted with the aim of creating a reserve fund of the company that provides BTW’s value backed up by living assets and also to start public sales of such types of assets through a cryptocurrency.
The documents were signed in Dubai, where the office of the beneficiary company TiM Works Enterprises Limited owning the IBOE is located.
The BitWhite (BitcoinWhite) team was represented by E.Y.U Bridge FZE company on power of attorney and on behalf of the BitWhite team.
Technical support, as well as the development of a smart contract and platform will be undertaken by the UNG Ltd company.
Tranche in the amount of 3’260’000 BTW was transferred to the TiM Works Enterprises Limited company. At the moment, lawyers conduct all stages of legal clearance to complete the transfer of IBOE to the developers of BTW.
The launch of the public sale is scheduled for Q4 2018, in which only BTW holders can participate.
Upon completion of all technical and legal processes, the BitWhite team will begin developing a user interface and launching a marketing campaign to attract other types of securities to our site.
“A few years ago we could not imagine that a cryptocurrency could become a real instrument of mutual settlements for real things. But today you can buy and sell for cryptocurrency any goods – ranging from a coal carload to art objects and real estate, cars and yachts.
Beyond question, this transaction marks the beginning of a new era in the world – this is the point of no return, where the value of cryptocurrency acquires conventional reserves that confirm real paying capacity. »
«This is our gift to this world – a new reality, new opportunities! »
«Yes, these are the new rules of the game, accessible to everybody!!!!» – BitWhite team.