The National Superintendency of Cryptoactives and Related Activities (Sunacrip), authorized the Caracas Commodity Exchange to start operations of its ecosystem in Venezuela and establishes itself as the first commodity exchange in the world with blockchain technology.
The launch of the platform is scheduled for next July 12 within the framework of one of the largest events on crypto assets and commodities that will take place in the country.
Daniel Valero, President and founder of the institution, expressed that the authorization granted by Sunacrip turns the stock market into a diverse ecosystem that “contains exchange, P2P, 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”.
The governance currency of the CCSCEX ecosystem, the EXCHANGE Token, is backed by a guarantee of 129,800,000 dollars, safeguarded by the UBS Bank of Geneva, Switzerland for an amount “that supports two million eighty-eight thousand Exchange Token, that can be used in more than 180 countries”.
First Venezuelan token
On the other hand, Valero reported that the first Venezuelan token will soon be created within the framework of the plan called the Agricultural Miracle of the agro-productive sector, “thus becoming the first Security Token in Latin America, thus supporting the issuance of one million nine hundred thousand Exchange Token and listed on BINANCE DEX (now BNB CHAIN) worth $120 million.”
The president of the Caracas Commodity Exchange announced other projects such as the implementation of the Security Token Offering (STO), also highlighted that the increased use of blockchain technology, the Internet of things and web 3.0, is stimulating important social, economic transformations. and cultural, and it is a transcendental fact for the country due to the increase in the use of platforms and apps.