BankEx (AVA finance)

BankEx Labs is the factory of financial technical-products developing the technologies applicable for increase in liquidity on the existing bank assets and also creations of new asset types, including via the ICO tool (initial coin offering). Works both at private interbank market, and at public – stock exchange and crypto - the exchanges. For June, 2017 the company prepares for carrying out own ICO, enters the markets of Singapore and the USA.

BankEx Foundation is the profitless organization created to develop community and an ecosystem of BankEx, to advance the protocol of liquidity and to help owners of assets to get access to the capital worldwide.

Business model

Around the world business faces a problem of insufficiency of liquidity and it becomes frequent a brake in its development. While actually business has assets which could be a source of attraction of the capital, but from the point of view of traditional financial institutions they belong to the category low liquid or illiquid. Large banks and corporations resolve this issue through securitization, however preparation of the similar transaction takes about six months, and the cost of services in its maintenance is from 300 thousand to one million dollars. It is obvious that this way is unavailable to medium and small business. BankEx suggests to use advantages of blockchain technology to involve a wide range of the assets which were considered as earlier illiquid in economic circulation. By conservative assessment (June, 2017), the total volume of this market is more than 10 trillion dollars. There are some of their versions:

• Precious metals in pawnshops and even in even lying in a subsoil. The blockchain can provide reduction of time of calculations from 2-3 days to almost instant that will open a new segment in the market of gold with a capacity of 5 trillion USD.

• The Nedocreditovannost of small business – a gap makes 2.1-2.6 trillion USD.

• National currencies. According to the World Economic Forum, to 2025 not less than 10% of GDP will be stored in cryptocurrencies.

• Small banks which have no budgets on independent implementation of new technologies and on access to securitization mechanisms because of the insufficient volume of a portfolio.

BankEx develops the platform, legal schemes and technical solutions for tokenization of assets that jointly with the investors to earn from increase in level of liquidity in different sectors of economy. The income of the investor will form from 30% of a share in the profit of partner solutions on the BankEx platform, the commissions for operations with smart contracts and the commissions for release of cryptoassets. Therefore the token of BankEx should be considered as the investment, but not speculative tool.

"Our know-how is a protocol of liquidity, in fact a combination of BaaS (Bank-as-a-Service) and a blockchain. We take a certain client asset, for example, the mortgage security which remained with bank after issuance of credit to the borrower. Further there is a tokenization – i.e., we can, without waiting for accumulation of a portfolio to critical mass, to turn for bank this paper into cash. It becomes possible because actually we create a uniform pool of the similar credits, let us assume, one hundred banks and we receive actually a marketplace where on the one hand banks which need liquidity are provided, and with another – investors who need a predictable cash flow", – Igor Hmel, the founder of BankEx explained in June, 2017.

Assets

For June, 2017 enter a portfolio of the company:

• Findostavka,
• "Operator of credit requests" and
• "Debt marketplace".

History

2017

Start of advance sale of tokens of BankEx Open Asset Foundation

On June 26, 2017 BankEx Open Asset Foundation, the crypto financial technical-platform for tokenization of real and bank assets and trade in them, announced the beginning of advance sale of the tokens (WAVES: privateBANKX) at the Money 20/20 conference in Copenhagen. Pre-ICO tokens are released on the Waves blockchain platform.

During pre-ICO three million tokens became available to early investors within private placement: the first 500 thousand for 0.2 USD, the following 500 thousand for 0:25 a.m. USD, then one million on 0.3 USD and in conclusion one million more tokens at the price of 0.33 USD. Accredited investors, with the minimum threshold for investments of 10,000 USD are allowed to participation in private placement. A part of tokens will be available to the Russian investors at retail at the DAX exchange, based on the Waves platform. Retail price of a token will be 0.05 WAVES.

The first release of ICO BankEx Foundation will take place during the period from August 21 to November 21, 2017, about 30 million tokens of BankEx a minimum of 10 million USD will be during this time sold. The second release of ICO will make 100 million tokens and will take place not earlier than 2019.

"We are glad that BankEx selected our platform for carrying out pre-ICO. In our opinion, financial assets represent the huge market for tokenization, and BankEx is one of the first companies innovators in this area. It is especially important that the product of the company offers wide prospects not only for investors, but also financial institutions which will be able to bring earlier illiquid assets to the market. Besides, this mechanism to allow to give an additional impetus to development to small and medium business that is especially relevant for the Russian economy now", – Alexander Ivanov, the founder of the Waves blockchain platform and the adviser of BankEx for placement considers.

"Tokenization of assets is the following technology step which allows to get all advantages of securitization with much more wide range of assets, with much simpler access level to this transaction because attraction of big bank and financial structures for its carrying out is not required that naturally affects decrease in its cost. Key advantage of tokenization as the structured financial product in what we take rather legally and economically known method as securitization, we strew it with magic pollen of technologies – and at us turns out much simpler, available and fast product", – Vitaly Dubinin, the partner of BankEx in integration says.

Grant Skolkovo, 3 portfolio companies are placed at the first office

At the first office BankEx Labs 3 potfelny commands were placed: Findostavka, "Operator of credit requests" and "Debt marketplace".

The company benefited a grant from Skolkovo Foundation and pobedilp in the tender Life.SREDA blockchaion hackathon.

2016: A victory in the Skolkovo nominations, creation of the company

In 2016 the project team won first place in the nomination of Skolkovo Foundation. The BankEx Labs company (Ava Finance) with the authorized capital of 10 thousand rubles was the same year created. Founder of the company Igor Hmel.