Wave Financial will tokenize four million bourbon bottles

by in Cryptocurrency News

Wave Financial bourbon tokens

Startup Wave Financial will create a digital fund, the tokens of which will receive collateral in the form of products worth up to $20 million released by the Wilderness Trail Distillery. This was announced by CoinDesk.

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Available to accredited investors, the token sale will take place this year. In accordance with the requirements of the Securities and Exchange Commission (SEC), tokens will be issued one year after the sale.

The startup is discussing with a number of cryptocurrency exchanges a listing of Tezos tokens issued in collaboration with a Vertalo startup. The administrator of the fund and the auditor will calculate the stock of products and fix the estimated price of the token on a quarterly basis.

Benjamin Tsai, President of Wave Kentucky Whiskey 2020 Digital Fund said that participation in the fund will give investors a rare opportunity to access a unique asset class, which is now limited due to high initial costs, low liquidity, shortages of production capacities and technical know-how.

Wave indicates that investors will be able to play on the rising cost of bourbon, a barrel of which can grow four times within five years from the moment of its distillation.

This is evidenced by the market dynamics of the last ten years, during which bourbon has become the most exported alcoholic beverage in the United States, and its producers have repeatedly expanded their production capacities.

Recall that earlier, Bakkt crypto platform has started testing the Bakkt Cash option in the Starbucks application, with which consumers can pay for purchases in the coffee shop chain.

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To use Bakkt Cash, users must register with the Early Access Program. The timing of the full launch has not yet been announced.