TradeCloud, a communications platform designed specifically for the physical commodities industry ,have launched their private round of their Swiss based Security Token Offering; having cleared all regulatory and legal hurdles. An initial 25 million tokens will be offered for approximately $20 million over the private and public rounds. The private round commences straight away and be immediately followed by the public round.
“The TradeCloud platform provides unparalleled market access for our customers. It facilitates efficient price discovery and optimal allocation of today’s scarce resources. By combining the current functionality with blockchain technology via The TradeCloud Commodities Web, we are well on the way to digitalising the full trade cycle “, said Simon Collins, CEO of TradeCloud.
The platform which was launched at the end of 2017, already boasts nearly 500 users across more than 35 countries.
The TradeCloud Token (TCST) has both utility and security features. “The token’s utility feature, allows the token holder to exchange their tokens for internal credits on the TradeCloud platform at a discounted rate. Whilst holding the token, the token holder will receive a profit share from the company,” explained Matthew Botell, COO of the company.
In the future TradeCloud has plans to provide a network of post trade services such as logistics, finance, and documents, all connected on the TradeCloud Commodities Web, centred around blockchain technology.