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Reserve USD Stable Coin Close $62 Million Subscription

04-07-2020 04:10 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: EGW Capital Inc

Reserve USD (RZE) closes US $62 mn placement

Reserve USD (RZE) closes US $62 mn placement

Reserve USD (RZE) a new stable coin on the block owned and managed by EGW Capital (EGWCAP), a leading blockchain investment bank has closed a subscription of US $62 million from a set of 37 initial investors. The company is in the process of placing another US $20 million worth of RZE coin.

RZE, the new stable coin is pegged against the US dollar in 1:1 ratio. The coin is gaining traction as it has a limited supply of coins, unlike other stable coins which have an unlimited supply of coins. RZE will also have a daily audit conducted by an external agency.

The initial investors have reposed their trust in the new stable coin and will continue to hold onto their RZE position for a period of 12 months.

These investors will receive 10% annual interest in the form of EGWCAP tokens to maintain the 1:1 backing. Over $6.2 million worth of EGWCAP tokens will be paid as a reward to these investors.

RZE in its lifetime will have a net circulation of 4.16 billion tokens or US $4.16 billion.

EGW Capital, the parent of RZE stable coin will own no coins and will have retain no reward for the management, thus making it one of the most transparent stable coin ever.

EGW Capital is soon launching its crypto bank which will help people to buy, sell, hold and invest crypto with ease.

The crypto bank will focus on the markets of India, Thailand, Indonesia, and Russia.

The holders of RZE will receive annual interest rate of 8.50% per annum.

Rahul Kumar, CEO of EGW Capital said "RZE is a stable coin for the real world usage. People can use RZE for buying crypto or to simply park their cash and earn interest through it,".

Company Name: EGW Capital Inc.
Contact: James Law
Address: 1100 Peachtree Street NE, Suite 200, Atlanta, Georgia 30309
Phone: 619-284-5893

We help our clients navigate through the uncertainties and capture the opportunity that the blockchain based digital assets represent. To do this, we have instituted processes and infrastructure in line with the established standards of financial regulation.

EGW Capital operates through several divisions, offering end-to-end solutions for corporates, institutional investors, family offices and high-net-worth individuals.

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