RCL Chemical Gets $325 Million Investment From Y2X For Crypto Mining
$325 Million USD Cryptocurrency Investment Being Used By Energy Co. To Recreate Its Future
In Kentucky’s attempt to start their new economy back up from scratch, a $400,000 loan was given to the Chemical Co. RCL. They’re an energy-based platform company with the primary target of helping make industrial plants more efficient with their energy usage. The company is currently in the process of building a new plant in Eastern Kentucky that will surely bring hundreds of jobs to the area. The only setback is the project has not done so well as of today. After moving to the new location, which has taken two painstaking years, the reserves of the company RCL are all but depleted.
Fortunately, in May the company sealed a deal with Y2X Infrastructure. The order brought in an astounding sum of more than $325 million USD in funding for the project with county being paid back, plus interest. As a sign of good faith, the company will also provide a payment of $50,000 towards the loan, which was all done through cryptocurrencies. After the near bankrupt depletion of their assets, RCL is on track to build their own facility with more than 800 ties the capital once expected – which to sum looks like a recipe for failure from the start.
Y2X also has the plans of creating their own tokens for distribution with the low amount of $200 million, in an attempt to take down the sectors ICOs – a growing and unfavorable trend in the cryptocurrency industry. Their coin will be built to give holder returns through the investments made by Y2X, like that into RCL Chemical. Even though the website makes mentions of investments making full compliances with security measures issued in the US, no data has been given to any type of formal filing with the SEC of whatever type.
As a new standard for ICOs, security measures are being heightened if not scrutinized to ensure emerging tokens meet the securities needed to protect investors. This could cause other companies to follow in the foot steps of Y2X and RCL Chemical, to raise capital that relies on the current hype surrounding ICOs.
Various security coins differ from the utility coins as they are not transaction based, instead encompassing the real-world nature of a security – that is, it doesn’t matter whether it’s completed through equity, governance, dividends, or asset representation.
Although a little late, security tokens on exchanges are now being created by corporations like tZERO, Templum, and OpenFinance. On the other side of creation, other corporations like Securitize, Polymath, and Harbor are taking the giant leap of faith by swimming through the currents associated with compliance issues as well as different security protocols like tokens being created as well as transference. The difference now, it is all being done with more popular companies like Coinbase. In turn, the doors are being opened at a steady rate for security token exchanging, liquidity, is definitely going to play a role in these markets sooner most likely than later.