Terminal Firm CG Blockchain Raises $25 Million Through BCT Token

FinTech, ICO News, Investing, News | May 7, 2018 By:

CG Blockchain, Inc., a New York company developing blockchain tools for the financial services industry, has raised more than $25 million at its affiliate BCT Inc. online public sale of its BCT ERC20-compliant utility token.

CG Blockchain created the Blockchain Terminal, a suite of cryptocurrency trading apps and blockchain tools built upon CG Blockchain’s ComplianceGuard framework. The BCT public token sale began April 1 and tokens are scheduled to be distributed at the end of May.

BCT Inc. offers a suite of proprietary and third party application tools for hedge funds, wealth management enterprises, and other institutional traders to trade cryptocurrency through its Blockchain Terminal–a single, integrated interface for trading cryptocurrency across 65 major cryptocurrency exchanges.

Among the third party applications planned for the Blockchain Terminal is ComplianceGuard, owned by BCT Inc. affiliate CG Blockchain, a software developed to monitor traders’ desktops while simultaneously writing all transactions to a private blockchain, rendering the transactions immutable. The Blockchain Terminal with the ComplianceGuard software is currently running with a select group of traders and hedge funds that have approximately $1.8 billion USD in assets under management.

“During the past two months, the Blockchain Terminal has hit milestone after milestone: growing its exchange base from two to four to 40 to now over 80 exchanges on the platform,” said CG Blockchain President Bob Bonomo. “The Blockchain Terminal now features a UI/UX that is beautiful and easy to navigate, and a consolidated order book that is much easier to use than any other platform we’ve seen. The Blockchain Terminal has been shipped to domestic and international partners in both crypto and traditional trading. And there is much more to come.”

CG Blockchain and its associated companies are also collaborating with computer technology company Dell and algorithm marketplace Tradingene for additional features and markets.

“To have achieved what the team at BCT Inc. has managed to do during such a difficult time for the ICO market is extraordinary – and I believe the Blockchain Terminal will change the way the market operates when it is adopted widely,” said Joel Emery of Tareo Capital, a CG Blockchain advisor and Blockchain Terminal tester.

The BCT utility token is the primary token powering the Blockchain Terminal ledger. The Blockchain Terminal also includes a secondary ERC20-compliant token, available since the platform’s launch, that represents subscription and entitlement to the services provided by the native BCT token.