Monday, July 6, company asset management Arca began selling shares of Arca U. S. Treasury Fund, registered with the SEC private Fund. Shares of the Fund is tokens ArCoin, which are traded on the Ethereum blockchain. About it reports Coindesk.
The Fund invests most of its assets in short-term Treasury bills and notes of the United States. The company said it received permission from the SEC on 6 July. The approval of the regulator will allow the Fund to exit the investment markets in accordance with the law “On investment companies” of 1940. Arca for nearly 20 months discussed the various forms of offers ArCoin. “This is a fundamentally new step towards the unification of traditional Finance with the digital investment assets,” ― said General Director of Arca Rhine Steinberg.
ArCoin combines Investitsionny the least risky asset on the blockchain, which, according to Arca, will provide the efficacy and safety of a bidding process and calculations.
ArCoin is a Ethereum token ERC-1404, which is a more severe version of the popular standard ERC-20. The main difference is that the ERC-1404 limits the number of addresses to which users can send ArCoin. This is very important for regulators who want to completely control the circulation of tokens.