Veritaseum is a blockchain-based FinTech software development company that is opening the door for peer-to-peer capital markets through its digital asset research and technology platform. Of particular note, is our ability to create custom tokens that represent a proportionate share of value in hard assets that can be exchanged Peer-to-Peer in bearer form, efficiently and seamlessly. The Tokens represent title to ownership in the assets.
To exemplify this, Veritaseum has created precious metal tokens: VeGLD (Gold Token), VeSLV (Silver Token) and VeSTB (Composite Stable Token) that can be widely and negotiably exchanged, and fully redeemed to the bearer. These tokens are backed, 100+%, by their assets.
VeGLD and VeSLV - Key Features and Benefits
- 100+% backed by the asset in high quality (.9999 fine gold and silver)
- Secure and insured with reliable depositories around the world for global redemption
- Fully redeemable*
- Value easily monitored through precious metals markets
- Easily transferable to others through the blockchain, easily negotiable through market-based price discovery
VeSTB - Key Features and Benefits
- 100+% backed by our proprietary basket of precious metals in fine quality of .999 to .9999**
- Value stabilized to mimic performance and volatility of major global currencies (CNY, USD, EUR)
- Reduced long term volatility and/or increased value appreciation when compared to standalone precious metals
- Enhanced diversification to market risk exposure when compared to standalone precious metals
- Fully redeemable for the underlying basket*
- Securely stored and insured with reliable depositories in the US via Comex approved vaults for global redemption and delivery to nearly any area around the world. ***
* Tokens are redeemable in one-ounce increments. Additional fees, including shipping, apply.
** The VeSTBL composite basket may also contain minerals, other commodities and futures. Basket components will be disclosed at delivery after redemption.
***.Delivery cannot be made to areas that are on the US sanctions list, or that are not covered by our insurers or the insurers of our contractors,
To help the government fight the funding of terrorism and money laundering activities, Federal law requires financial technology (FinTech) companies to obtain, verify, and record information that identifies each person. We strive to comply fully with US anti-money laundering and know your customer rules.
NOTICE and DISCLAIMER
We have reviewed the proposed legal structure of a precious metal backed Token as proposed by Veritaseum. Based on our review, we have concluded that the precious metal backed Token as proposed by Veritaseum complies with all applicable laws of the United States including Federal and State laws, as well as corresponding International laws. The proposed Token is fully negotiable and redeemable to the bearer and would not be considered an Initial Coin Offering (ICO) under current law. It should be noted that the above notice is for informational purposes only and should not be construed as legal or financial advice as the laws are subject to various interpretations and changes and financial conditions vary from person to person. Accordingly, one should not take any actions, or refrain from taking any actions, based the above notice, and should seek the advice of counsel and/or their financial advisor before deciding whether or not to take action.
Brundidge & Stanger, P.C.