This week it was revealed that the National Superintendency of Cryptoactives and Related Activities (SUNACRIP), the regulatory body for cryptoactives in Venezuela, authorized the startup CCSCEX | CARACAS COMMODITY EXCHANGE, to start its operations in the country.
According to the same company, Said authorization, which was granted by Sunacrip, endorses the Venezuelan startup for the development of the following activities: operation of exchange, P2P and crypto fiat, payment gateways, crypto debit and credit cards, super wallet, super app, e-commerce, crowdfunding, issuance of tokens and tokenization for management and production in agro-productive areas, tokenization of mining and mineral extraction, OTC services and payment agent.
In this way, the Caracas Commodity Exchange appears as a diverse ecosystem that develops a large part of its activities, including productive and social crowdfunding on blockchain technology.
Daniel Valero, founder and chairman of the Caracas Commodity Exchangepointed out that this initiative after 8 years, is constituted -according to him- as the first commodity exchange in the world with blockchain technology. “This initiative will make possible the entry of foreign capital, which will enhance Venezuela as a land of opportunities.”, he commented.
Tokenization in Venezuela: “The Agricultural Miracle”
For its part, Valero also announced that, based on the authorization granted by SUNACRIP, the first tokenization will be carried out in Venezuela, which is included in its plan “El Milagro Agrícola”, in the agro-productive sector.. In this way, the Security Token is constituted that supports the issuance of one million nine hundred thousand exchange tokens and their listing on Binance Dex for a value of USD 120 million.
Among other initiatives, from CCSCEX they have communicated that they plan to carry out the STO (Security Token Offering), the launch of the platform and the ecosystem on July 12, 2022in an event that promises to be -according to- the largest of crypto assets and commodities in the country.
“The increase in the use of technologies in the field of cryptocurrencies, OTC, blockchain, internet of things and web 3.0, has caused important social, economic and cultural transformations in the world. It also constitutes a great step for Venezuela, since it is closely linked to the increase in the use of platforms and apps”communicated from Caracas Commodity Exchange.
“CCSCEX is under constant review due to the great influence of these changes in world finance, giving rise to the so-called “new digital economy”, which has recently aroused so much interest”they pointed out.
Exchange Tokens
Regarding the governance coin of the CCSCEX ecosystem, the Exchange Token, from the startup they have indicated that it is backed by a guarantee that is in the custody of the UBS Bank of Geneva, Switzerland for an amount of USD 129,800,000 that supports two million eighty-eight thousand Exchange Token, that can be used in more than 180 countries.
“The Exchange Token is a Security Token that becomes the digital representation of a real-world asset in the block chain, which must be regulated, giving value to this digital representation or token in the physical world. A real-world asset backs it, so each one issued is guaranteed. To date, more than ten million EXCHANGE Tokens are backed, out of a maximum supply of two hundred million of them”they pointed out.
Lastly, it should be mentioned that the Caracas Commodity Exchange also plans to have a CCSCEX TV service, the audiovisual media channel for information on its community, a call center to serve the same community, and in addition to an entrepreneurship hub with 1,300m² of physical space, an auditorium with capacity for 500 people and training rooms dedicated to professional and technical assistance for the incubation, acceleration of projects and startups.
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