France: iExec obtains the visa from the AMF for the launch of its eRLC token
iExec has obtained a visa issued by the AMF for its “Public Swap Offering”.
The eRLC wrapped token will be the enterprise version of the RLC token
The aim is to boost business adoption by offering a token that complies with LAB / CFT standards.
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iExec launches the enterprise version of its RLC token. This new version of the RLC has obtained the visa of the AMF for its “Public Swap Offering”.
The objective of the “wrapped” eRLC (Enterprise RLC) token is to offer additional regulatory guarantees to companies using the service of the French startup.
Quick overview of iExec
iExec is a French project which has set itself the objective of „decentralizing the cloud“ . The Lyon-based company has developed a decentralized marketplace for cloud computing resources.
Blockchain technology is used as a solution to organize a marketplace where users can monetize their computing power and data.
Why create an enterprise version of RLC?
The need to create a new version of RLC comes from the difficulties encountered by companies wishing to benefit from the innovation brought by blockchains and cryptocurrencies while remaining in compliance with the regulatory environment. Anti-money laundering (AML) and anti-terrorist financing (CFT) laws require companies to meet strict regulatory standards.
Thus, the compliance procedures attached to the eRLC token of the iExec Enterprise Marketplace platform will provide all the regulatory guarantees necessary for companies.
Gilles Fedak, co-founder of iExec, said:
Companies involved in cloud computing care about regulation and being able to offer an LAB / CFT compliant version of the RLC token will boost business adoption, while strengthening the iExec ecosystem as a whole.
Conditions of the eRLC token offer
From February 1, 2021 , after completing an identification procedure on the iExec platform. RLC holders will be able to redeem their RLC for eRLC to start using the iExec Enterprise Marketplace.
RLC tokens will be blocked in a smart contract while the same number of eRLC tokens will be issued to the user (1 RLC = 1 eRLC) . At any time, eRLC holders will be able to exchange them for RLC tokens. This gives companies and individual users a choice; either they will use the “business” version of the token with its strict anti-money laundering guarantees, or they will stick to the original and public version of the token.
The eRLC token has obtained the AMF visa N ° ICO.20-508, issued by the Autorité des marchés financiers (AMF) in France.