Vemanti Group’s Wholly-Owned Subsidiary Announces Pilot Launch Of Its USD-Pegged Stablecoin
Vemanti Group, Inc. (OTCQB:VMNT) announced the launch of the Vemanti Dollar (USDV), a stablecoin pegged 1:1 to the USD. The initial rollout targets early adopters, with broader plans for integration into various blockchain networks. USDV aims to offer advantages such as reduced price volatility and regulatory compliance, making it suitable for payments, remittances, and decentralized finance applications. Additionally, users can redeem USDV for USD and access a multi-token wallet with advanced security features. CEO Tan Tran highlights this launch as a pivotal moment for Vemanti's growth in digital payments.
- Launch of USDV allows Vemanti to penetrate the growing stablecoin market.
- USDV offers regulatory compliance and low volatility, enhancing trust.
- Wide range of use cases: payments, remittances, payroll, and DeFi.
- Users can redeem USDV for USD or 150+ currencies, promoting usability.
- Dependence on successful adoption of USDV in a competitive market.
IRVINE, Calif, July 07, 2021 (GLOBE NEWSWIRE) -- Vemanti Group, Inc.’s (OTCQB:VMNT) (“Vemanti”) wholly-owned subsidiary, Vemanti Digital, Ltd. (collectively, the “Company”), announced today the launch of the Vemanti Dollar (“USDV”), an ERC-20 1:1 USD-pegged stablecoin, to registered early adopters. General roll-out plans are set to begin later this month in preparation for onboarding additional large-scale volume. USDV is one of the first stablecoins of its kind to be issued by an SEC reporting company.
USDV initially follows Ethereum ERC-20 standards with plans to rapidly expand into other blockchain networks. It holds a distinct advantage over all other tokens, such that it allows for blockchain ledger security without the price volatility of traditional cryptocurrencies, as well as operating with full regulatory compliance. USDV can be adopted easily by all commercial institutions that wish to process stablecoin as a form of payment within their own ecosystems.
Designed to be fast, low-cost, and borderless, the USDV stablecoin plans to provide the following use cases to individuals and businesses:
- Payments & Remittances
- Payroll
- Settlement
- Lending & Trading
- Decentralized Finance (DeFi) applications
- Escrow services
- Alternative banking services
Owners of USDV stablecoin can easily redeem it for USD or 150+ global currencies from anywhere in the world through SWIFT wires. Users of the USDV stablecoin can also access a multi-token wallet that allows for convenient management of USDV and other major digital assets, such as Bitcoin, Ethereum, USDC, USDT, and more. The wallet is equipped with multi-layer authentication security and technology, as well as the following planned features:
- Staking
- Credit lines
- Buying, selling, and trading various digital assets
- Crypto escrow
- E-voucher
Tan Tran, CEO of the Company, commented, “The launch of USDV will be a watershed moment for Vemanti as we look to aggressively gain footprint in the digital payments and money transfer markets. By addressing transparency and trust issues inherent in other stablecoins, we believe we are well positioned for rapid expansion and high-volume user adoption, which will create sustainable value for our shareholders.”
For more news and updates, shareholders and prospective investors are encouraged to follow @Vemanti on Twitter (https://twitter.com/Vemanti).
About Vemanti Group, Inc.
Vemanti Group, Inc. (OTCQB:VMNT) is a technology-driven company that seeks to become active in high-growth and emerging markets. The Company’s mission is to advance financial inclusion for the unbanked, underbanked consumers and businesses of the world. It is focused on building a financial ecosystem based on innovative fintech and blockchain applications. To learn more about VMNT, visit www.vemanti.com.
About Vemanti Digital, Ltd.
Vemanti Digital, Ltd. (VDL) is a wholly-owned subsidiary of Vemanti Group with a focus on blockchain-based products and decentralized financial services. VDL is based in Tortola, BVI.
Legal Disclaimer
This press release may include, and oral statements made from time to time by representatives of the Company may include, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filing with the Securities and Exchange Commission (“SEC”). All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s Form 10 filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact Information
Vemanti Group, Inc.
Investor Relations
(800) 768-1288
ir@vemanti.com
FAQ
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