France-based crypto-asset issuance platform Tozex claims to have created the ‘Believers Reward Offering’ or BRO, “the first sustainable alternative” to initial coin offerings (ICOs) and security token offerings (STOs).
Tozex claims that the BRO allows businesses to access financing by borrowing stablecoins from investors worldwide.
👋Hi, believers! Join our special online event to discover why BRO is so powerful, and why it is a sustainable alternative to ICOs & STOs! ⠀ 📢Bonus: Exclusive announcement by Tozex #CEO, Rémy Ozcan @OzcanRemy ! ⠀#event #BRO #tozex #online #community ⠀https://t.co/8SDtQfbmtY — tozexofficial (@tozexofficial) June 8, 2020
The firm describes BRO as an “anti-crisis business solution.”
Tozex claims that the fundraising vehicle will help small to medium-sized enterprises:
“overcome tough economic times and open new financing possibilities.”
Basically, BRO offerings are conducted using Tozex blockchain-based crowd-lending protocol that leverages smart contracts to autonomously and transparently execute loans tied to a borrower’s crypto collateral.
Tozex claims that its system will mitigate the risks of price manipulation and exit scams which can be associated with ICOs.
Despite BRO’s design Tozex will also offer ICO and STO services.
Tozex co-founder Remy Ozcan said he believes that token issuance vehicles like BRO will soon expand beyond the blockchain sector and also into the mainstream business community.