Jibrel Network, a protocol with built-in regulatory compliance that allows traditional assets such as currencies, bonds, commodities and securities to be tokenized on blockchain has announced that it is entering into a strategic partnership with Token-as-a-Service (TaaS), a tokenized blockchain asset fund designed to reduce technical barriers and risks for investors.
The strategic relationship will include an undisclosed investment in Jibrel’s upcoming token pre-sale, scheduled for September 25th 2017. TaaS Co-Founder and President Ruslan Gavrilyuk will also be part of Jibrel Network’s Board of Advisors.
Yazan Barghuthi, Project Lead at Jibrel Network said:
“Jibrel Network aims to bring traditional assets on-chain. We are excited to partner with TaaS, the leading fund driving the growth of a strong community of blockchain investors. Our strategic partnership will play a significant role in accelerating the tokenization of traditional assets, and market adoption of on-chain trading.”
The Jibrel Network provides a fully decentralised banking solution that allows participants to tokenize and exchange traditional assets and financial instruments enabling instant near-zero fee global payments, trading, settlement, and clearance.
In order to fulfill the company’s global vision, Jibrel is undertaking a token sale on November 27th, 2017. Proceeds of the sale will enable the company to invest in key strategic activities that include additional currency support and the launch jWallet and jCash, an institutional-grade Ethereum wallet and payment network that enables users to seamlessly send, receive, and exchange freely between tokenized currencies.
Ruslan Gavrilyuk, President of TaaS said:
“We are delighted to form this strategic relationship with Jibrel. We are impressed by their progressive approach to solving the real-world problems of the global banking industry, and are excited to invest in the very bright future of the Jibrel Decentral Bank.”
In the beginning on September, Jibrel signed security auditing firm New Alchemy to conduct a full in-depth security audit and code review of its platform. At the same time, the company also signed a Memorandum of Understanding with Dubai-Based ArabianChain to bring smart token regulation to the MENA region.
The Jibrel Network provides CryptoDepository Receipts (CryDRs) – tokens representing real world value (currencies, money market instruments, etc.).