EXR Foundation Launches EXR, A New Collateral Digital Asset

Information Technology Press Releases Monday June 24, 2019 08:20
NEW YORK--24 Jun--PRNewswire/InfoQuest
Leading blockchain organization EXR Foundation Ltd. today announced their global plans to launch a new stable digital asset EXR in the coming months, as an alternative to Libra.

Described as trusted and regulatory-compliant, EXR is a stable-priced virtual asset that sets out to bridge the divide between blockchain and financial industries and act as a trusted and stable-priced hedge against looming international trade conflict.

EXR is poised to be a welcome addition to the growing new asset class - digital assets that are equivalent in value to real-world assets. Announced shortly after the release of Facebook's Libra coin whitepaper, EXR will differentiate itself from Libra by pegging its value to a weighted basket of leading fiat currencies. Currencies are tentatively expected to form part of the EXR basket but will be confirmed at a later stage once compliance requirements are finalized and fulfilled.

EXR is designed to act as a store of value, simplify transactions across organizations of diverse industries and act as a hedge against the fallout of a potential trade war between countries. Furthermore, EXR will be managed by professionals and independently monitored by a respected audit firm in order to comply with the relevant regulatory requirements.

EXR will maintain the basket currencies on an audit-ready and transparent platform, to ensure that the EXR amount in circulation does not exceed the value of assets held in the reserve accounts. The assets will be redeemable against the underlying fiat currencies based on the index-weighted ratios. New EXR assets will be minted upon issuance and burned after they have been redeemed for the equivalent underlying fiat currencies.

EXR Founder - "EXR to foster stability"
Mr. Norihiko Ishihara, the founder of EXR Foundation Ltd., shared his sentiments in the following statement:

"With the formation of EXR Foundation, we are bringing together highly-skilled members from dynamic and converging industries such as blockchain, telecoms, e-commerce, payments, social media and more. I strongly believe that EXR will lay a vital foundation to help facilitate seamless payment operations across these diverse industries and foster increased stability against any adverse socio-political issues."

About EXR Foundation

EXR Foundation is a global Fintech group, committed to leading the development of a better financial system through the application of the latest blockchain technology and sophisticated digital asset ecosystems. By leveraging its unique insights, network and access to capital, EXR Foundation actively builds, supports and invests in promising companies.

Photo - https://photos.prnasia.com/prnh/20190621/2504672-1

Latest Press Release

GEP Wins Top Honors in Procurement Consulting at CIPS Supply Management Asia Awards in Singapore

- Short-listed twice in consulting category, GEP wins for a massive source-to-pay transformation in APAC region GEP, a leading global provider of software and services for procurement and supply chain management to Fortune 500 and Global 2000...

Infineon and FuturePlay to jointly strengthen start-up ecosystem in South Korea

Infineon and FuturePlay have signed a memorandum of understanding (MoU) to jointly strengthen the hardware and software development ecosystem in South Korea by mentoring and nurturing early and growth stage start-ups. Infineon and FuturePlay will...

Huawei Founder: Hongmeng OS Useful for IoT-Enabled Automated Production

Ren Zhengfei, Huawei's founder and CEO, said with the fixed low latency, the company's Hongmeng OS is useful for IoT-enabled automated production. "The purpose of our OS is to enable a world where everything is connected and intelligent," said Ren during...

AI, THE HOLY GRAIL FOR THE ENHANCED SPORTS VIEWING EXPERIENCE, ACCORDING TO MILLENNIALS

New NTT research shows over half of people aged 18-34 believe AI creates better engagement, but only a quarter know how it's actually applied in sports As the competition for fan engagement increases across major global sporting events, artificial...

Icertis Cements Undisputed CLM Market Leadership with $115 Million Round

Icertis, the leading provider of enterprise contract management in the cloud, today announced the closing of a $115 million Series E round. With this funding, Icertis becomes the first Contract Lifecycle Management (CLM) company in the world to be valued...

Related Topics