VVToken, the company behind the CyberBank consumer finance platform, has announced a massive relocation plan of its corporate headquarters from Belize, on the eastern coast of Central America to the world’s leading blockchain and cryptographic ecosystem of the “Crypto Valley” in Switzerland.
VVToken was created as a solution to combat a massive issue amongst the current banking system. As it currently stands, more than 39% of the world’s population and up to 20% of U.S households are either unbanked or underbanked. This issue strives from individuals having either no access to formal banking services or a lack of faith within the current banking system for the reason of high fees and concerns regarding security.
VVToken’s solution to this lack of faith in the current banking system is to provide a platform offering payment security and mobile affordability that utilizes the security and reliability of the blockchain while delivering an unparalleled mixed of benefits to users of their CyberBank™ products. The first product VVToken will offer is the CyberBank Platinum Debit Card, a prepaid debit card targeted to low-to-middle income users.
This card will offer individuals, who are typically unable or unwilling to obtain a bank account, low-threshold access to several financial services. The second product is the CyberBank™ Black Card, a feature-rich card offering numerous benefits to well-qualified individuals that combines accessibility to cryptocurrency and fiat currency features in a single powerful platform.
VVToken has the wheels in motion for their big HQ move to the dominant cryptocurrency ecosystem of Switzerland’s ‘Crypto Valley’. Zug is a small region of Switzerland, which is now known as ‘Crypto Valley’ due to its being the home of a vast majority of fintech enterprises. The entire Zug ecosystem promotes innovation and provides opportunities that other cities and countries lack in. This makes Zug such a great location for VVToken’s HQ.
VVToken has concluded agreements with multiple companies located in Zug, aiming to provide a broad array of services to users of the financial platform, including low-cost/no-cost cellular phone services, innovative data access that changes the paradigm of how users avail themselves of data, and reduced fee domestic and international remittance services. These partnerships will greatly accelerate market penetration and reduce the overall amount that VVToken needs to raise in their ICO.
VVToken CEO Dr. RJ Gosselin said:
“We are extremely excited about the greater value this will deliver to the participants in our ICO. This move allows VVToken to leverage the strength of the $6.1 million we have already raised and combine it with all the benefits of operating from the most favourable ICO environment on the globe. Switzerland’s entire political culture is based upon a decentralized, bottom-up approach that is a natural fit for companies like VVToken; moving to the Crypto Valley will give us the added advantage of basing our project in the number one location in the world for competitiveness and productivity.”
According to VVToken’s announcement, the company’s financial solution has already raised over $6 million in the course of 6 weeks since the beginning of the presale stage for its upcoming ICO. News of the blockchain start-up milestone dominated the NASDAQ marquee in Times Square. VVToken expects today’s announcement will drive public attention to the ICO at record rates.