Vórtx QR Tokenizadora was one of the companies approved in the regulatory sandbox of the Securities and Exchange Commission (CVM) in October, as reported by CriptoFácil. And last Friday (1), the company’s first phase of operation was announced. According to a statement sent by Vórtx to CriptoFácil, this first phase consists of the exchange stage. In principle, investors and issuers interested in working in the tokenization company must perform their initial registration. This registration is mandatory to perform operations on the tokenizer, which is expected to be launched in May. To operate in the tokenization company, the first step of every investor and issuer is to open an account at Vórtx DTVMa The account, in turn, works as a digital wallet that will receive the resources, later used in the exchange. The process is simple and fast, just access the website and start the registration process.
First sandbox companies
Vórtx QR Tokenizadora is a joint venture between Vórtx, an infrastructure fintech for the capital market with more than half a trillion reais in assets on its platform, and QR Capital, a holding company in the blockchain and crypto-assets sector. Both Vórtx QR and Vórtx DTVM were selected by the CVM sandbox in October 2021. Together, the companies will develop, within the scope of the CVM regulatory sandbox, the first regulated token-based exchange for the capital markets. In this sense, the project provides an evolution of the infrastructure for the digitization of the intermediation activity of public offers for securities. Vórtx will allow the issuance of assets such as debentures and shares in closed-end investment funds. In practice, Vórtx may, in the future, become the first blockchain stock exchange in Brazil. Unlike traditional IPO processes, Vórtx incorporates blockchain technology into the process. As a result, transactions tend to be safer, smarter and more transparent. In this way, the companies aim to promote the activity of setting up and managing the organized over-the-counter securities market. The entire process will be based on blockchain technology. This operation is unique in Brazil and could revolutionize the capital market. The application will work as the first part of a selection process. Among those registered on the Vórtx website, twelve asset issuers will be selected to participate in the project.
Juliano Cornacchia, CEO and co-founder of Vórtx, celebrated the innovative nature of the project. According to the executive, investors who register on the Vórtx DTVM platform will be pioneers. In this sense, they will take the first step to participate in one of the most revolutionary projects for the digitization of the capital market in recent years.
“This product is pure innovation and creates the possibility of simplifying extremely bureaucratic transactions and drastically reducing the costs involved. The tokenization process is here to stay and will change the way people make investments. This is an important move towards our purpose of simplifying the capital market”, explains the executive.
Fernando Carvalho, CEO of QR Capital, spoke about the partnership between Vórtx and QR. According to the executive, the move is in line with the holding’s effort to bring the traditional financial market closer to the crypto asset market. In this sense, QR Capital already has investment funds and ETFs linked to the crypto asset market. Now, the manager aims to innovate the capital market organization itself as a whole.
“Blockchain technology facilitates the creation of more efficient, secure and less costly trading environments. This makes the entire process simpler for both the investor and the issuer. With the regulatory exemptions obtained on an experimental basis in the Sandbox, we will make the issuance and distribution of securities more agile, cheaper, safer and more efficient. This will enable projects that are increasingly innovative and necessary for the traditional market”, argues Carvalho.
The activities that can be carried out in the tokenizer, in addition to being regulated, will be carried out directly by investors or issuers. In addition to expanding possibilities of access to resources, democratizing the process and allowing the expansion of the operator base. Also read: Decentraland warns of leaked emails from its newsletter subscribers Read also: Digihost mining company announces Bitcoin dividend payment