TaaS, the First Fully Transparent Closed End Fund Dedicated to Blockchain Assets, Adds International Banking and Marketing Experts as Advisors

TaaS, the first ever tokenized closed end fund (CEF) dedicated to blockchain assets, today announced the latest additions to their Board of Advisors. Ahead of their upcoming Initial Coin Offering launching on March 27, 2017, TaaS invites global banking expert Patrick Salm and marketing consultant Pascal M Bommeli to the team. Utilizing the Ethereum blockchain […]

TaaS, the first ever tokenized closed end fund (CEF) dedicated to blockchain assets, today announced the latest additions to their Board of Advisors. Ahead of their upcoming Initial Coin Offering launching on March 27, 2017, TaaS invites global banking expert Patrick Salm and marketing consultant Pascal M Bommeli to the team.

Utilizing the Ethereum blockchain and its pioneering Cryptographic Audit technology, TaaS will offer a new way to participate in and benefit from capital raising, fund management, and cryptocurrency investing, all with full auditing transparency to investors.

Swiss-based Financial Risk and Fund Specialist Patrick Salm has more than four years’ experience in blockchain technology and a track record of more than 10 years of success with large, global banks where he took leading roles. Salm is currently Strategic Risk Manager and Business Analyst at BANK-now AG, a Credit Suisse Group subsidiary, where he provides analysis and optimization of risk-relevant business processes and applications. Prior to this role, Salm was Head of the Pre-Legal Recovery Team at BANK-now, responsible for monitoring risks and progress of loss-bearing positions for more than $150m in assets. Salm has also held leadership positions at credit card bonus company Jelmoli Bonus Card and at Intrum Justitia, Europe’s leading credit management services company.

Salm holds a Bachelor of Science in Business Law from the Zurich University of Applied Sciences, a Bachelor of Science in Business Administration (Finance & Banking) from Lucerne University of Applied Sciences and Arts, and a Master of Science in Banking and Finance from the Institute of Financial Services Zug at Lucerne University of Applied Sciences and Arts.

TaaS also welcomes Pascal M Bommeli, a Swiss-based entrepreneur, to the Board of Advisors. Bommeli brings vast experience in the creation, development and selling of several startups within the software development and applications sector, including HO Designer LLC, Silver Brain LLC, Design & Desktop Team LTD, educApps, and The Localised Community – LOCO. Bommeli is currently Marketing and Communications Manager at reputable Swiss IT company, ABO Storage Distribution, where he is responsible for public relations, partner enablement, channel presence, and supporting sales and advertising. In addition, Bommeli has served as Chief Marketing Officer and Executive Board Member at Point Software AG.

Involved with the cryptocurrency industry for the last three years, Bommeli has deep insights in marketing, design, and communications fields. Bommeli holds a professional Master’s degree in publication management, a federal certification, from »gib« Management School for Print, Media and Communications in Zurich. He also holds a print specialist federal certificate (EFA) from »gib« Management School for Print, Media and Communications.

Ruslan Gavrilyuk, Co-Founder and President of TaaS said: “TaaS is extremely pleased to be bringing an additional two high caliber advisors of to the Board. Mr. Salm and Mr. Bommeli are well equipped to make significant contributions to the company and bring with them a wealth of industry experience and knowledge to the board.”

Patrick Salm said: “I am proud to bring my extensive experience in finance to the advisory board of TaaS, which I believe represents a unique opportunity for investors to capitalize on capital raising, fund management and cryptocurrency in a new way.”

Additional board members include fund management expert John Wong and legal consultant Sergey Rabenko. Wong, formerly an investment banker at Lehman Brothers, has more than 25 years’ experience taking companies public and managing funds. Rabenko is a legal consultant at the International Finance Corporation (a member of the World Bank Group) with more than 12 years’ experience advising on legal, mergers and acquisitions, and tax issues.

Unlike traditional closed-end funds, TaaS will issue tokens built on a profit-sharing smart contract where token owners collect 50% of quarterly profits. To grow the fund’s capital pool without attracting additional investment, 25% of profits will be reinvested back into the fund. The premise is, as the Net Asset Value of a token increases over time, TaaS tokens will have its value explicitly tied to the performance of its parent project, thus introducing a Token-as-a-Service (TaaS) business model.

With a focus on overcoming the current industry problem of transparency in investing in non-Ethereum tokens, TasS has built an in-house Cryptographic Audit, a set of autonomous auditing techniques that track, record, and timestamp trading activity. This technology was built by TaaS to ensure all profits are properly recorded, money flow is transparent, and the company is in possession of all declared funds. By design, it will simplify investors’ due diligence and provide tools for maximum transparency.

TaaS will be open for investment exclusively during their month-long ICO, launching on March 27, 2017. By incorporating a bonus system for early investors, TaaS will offer 25% bonus for the first 1000 BTC raised with the bonus system decreasing progressively all way up to 9000 BTC. TaaS will reserve 2% of the collected funds for bounty programs.

“With the board of advisors stronger than ever, TaaS expects not only to run a highly successful ICO, but deliver substantial returns to our investor community,” concluded Ruslan Gavrilyuk.

TaaS tokens are intended to be traded on all major exchanges. For more information, the TaaS white paper is available on taas.fund

Read this next

Retail FX

Spotware rolls out Manager’s API for cTrader brokers

Spotware Systems, a technology provider for the electronic trading industry, has released its new Manager’s API for Brokers, providing powerful tools for server-server integration.

Metaverse Gaming NFT

Dubai Museum taps Binance to jump onto NFT bandwagon

Dubai’s Museum of the Future, the $136 million UAE government-sponsored museum that opened a few weeks ago, is joining forces with Binance NFT to roll out a range of digital products on blockchain.

Digital Assets

Ripple and Lithuanian FINCI partner for XRP-based payments

Ripple is looking to expand its presence in Europe, forming a new partnership with Lithuanian electronic money institution FINCI.

Digital Assets

Crypto.com enables Shopify merchants to accept crypto payments

Crypto.com has integrated with Canadian e-commerce giant Shopify so global merchants can accept crypto payments and save on processing fees through cash-final settlements.

Institutional FX

FX volume drops 13pct at CLS Group in April 2022

FX settlement specialist CLS Group today reported that the executed volumes of currency trading on its platforms were notably down in April.

Crypto Insider, Opinion

Regulation: The Gold-Standard for Crypto-Assets

When the US supervisory authority SEC allowed an investment product referencing Bitcoin futures to be traded for the first time last October, this was widely perceived as a signal that cryptocurrencies had finally become established as an asset class.

Executive Moves

Solid hires FX industry veteran Darren Barker for multi-bank ECN’s business development

His curriculum vitae includes former roles at Cantor Fitzgerald, Sucden Financial, R.J. O’Brien, Jefferies, Natixis, Unicredit, J.P. Morgan, Raiffeisen, RBS International, UBS, Deutsche Bank, and Citi. 

Inside View

Mihails Safro, xpate CEO: Tips sellers need to know to overcome compliance obstacles

The unprecedented growth of e-commerce changed shopping dramatically last year. Many sellers suddenly faced a rapidly growing number of customers who had to stay home during the lockdown. When some clients adopted Netflix and Spotify as part of a daily routine, others ventured into online business. Robinhood alone saw a whopping 6 million rise in user numbers in 2 months. 

Institutional FX

BMLL delivers Level 3 data to Kepler Cheuvreux for order book analytics and algo performance

The solution covers more than 6.5 years of harmonised historical data from 65 venues and combines it with easy to use APIs and analytics libraries in a secure cloud environment. 

<