- Andra Capital collaborates with Tezos
- The goal is to create Silicon Valley Coin
- New coin will provide investment opportunities for “qualified U.S purchasers
Tezos News Today – Tezos has now landed a new partnership with one of the top U.S based capital venture firms. The price of Tezos reportedly grew at press time following the report. The firm that has announced a partnership with Tezos is San Francisco-based VC firm, Andra Capital. The company is planning to collaborate with Tezos to issue the Silicon Valley Coin (SVC).
SVC will be issued via an STO (Security Token Offering). The report of the project comes after Andra Capital collaborated with the Tezos Foundation with an agreement in place to build their new coin on the latter’s Blockchain. Per the report, after the announcement, the price of XTZ noted a 24-hour increase of 9% against the USD.
Andra Capital will Use TokenSoft’s Platform for the Endeavor
As reported above, the California-based Venture Capital firm will partner with the Tezos Foundation to issue the Silicon Valley Coin. Now to achieve its aims, Andra Capital will make use of the TokenSoft’s issuance platform. The VC firm’s open-end technology fund, which is commonly regarded as the “Fund,” will primarily use the Silicon Valley Coin (SVC) to make investments in late-stage, private technology companies.
Additionally, the new coin will also offer an investment opportunity for qualified U.S purchasers and permitted investors globally. Finally, all investors will have the ability to take delivery of the Silicon Valley Coin. The coin will be built on the Tezos Blockchain network.
Andra Capital Head of Strategic Partnerships Calls the Arrangement the Best of Both Worlds
It appears all parties involved in the arrangement are happy about it. According to the Head of Strategic Partnerships at the California-based Andra Capital, Sam Raman, by entering such a partnership, his company is working with the best of both worlds. By this, he means TokenSoft and the Tezos Foundation. Here are his words:
“The TokenSoft platform offers technology for all qualified retail investors. This is meant to let them participate in late-stage and pre-IPO technology venture companies. We have collaborated with the best providers which include the Tezos Foundation. The network’s expertise in digital securities will be paramount to the development of the Silicon Valley Coin.”
The President of TQ Tezos spoke about the collaboration. According to her Tezos is thrilled to work with VC firms like Andra Capital for the forthcoming product. She said because these firms are embracing digital securities via the Tezos Foundation, the latter will be able to give global investors access to an exclusive asset class.