The Italian Wine Crypto Bank (IWCB), the first and only global wine bank based on blockchain and cryptocurrencies, has launched what it calls “the first cryptocurrency in the world entirely guaranteed by wine” starting from September 21.
The coin called IWB is a revolutionary utility token tradable through LATOKEN Exchange on the secondary market, particularly with Italian wines.
There are already 27 Italian wineries that are partnering with IWCB for the IWB cryptocurrency, according to IWCB.
They are Allegrini, Arnaldo Caprai, Baracchi, Barattieri, Boroli, Casa E. Di Mirafiore, Castello Di Perno, Castello Di Querceto, Elena Fucci, Fattoria La Magia, Incontri Organic Wine, Macchie Santa Maria, Marchesi Mazzei, Mocali, Planeta, Podere Il Carnasciale, Poggio Al Tesoro, Salvatore Molettieri, San Polo Montalcino, Tasca D’Almerita, Tenuta Di Capezzana, Tenuta L’impostino, Tua Rita, Vini Franchetti Tenuta Di Trinoro, Passopisciaro, Sancaba, San Filippo.
“The big news is that, compared to all the other tokens, IWB can be redeemed by its holder at any time, obtaining fine Italian wines from the IWCB portfolio for the same value paid for the tokens in the IEO”, explains Davide Casalin, Operations Manager of the IWCB.
This means the investment in IWB tokens is fully guaranteed by fine Italian wines, and it will also allow IWB tokens in the future to be used to directly buy wines from producers, according to IWCB bank.
Started in December 2020, the IWCB project, with the imminent issue of the IWB coin, enters its third phase. From next October, once again for the first time in the world, holders of Bitcoin, Ethereum and major cryptocurrencies will be able to use the same to buy IWCB fine wines, either to enjoy them immediately or for investment, says the bank.
In the latter case, not only will the value of the wine increase but they will also receive interesting exclusive bonuses linked to the trend of the cryptocurrency used, it adds, but without offering specifics.
“The Italian Wine Crypto Bank is a winning way to expose the fine wines of our Partner Wineries to the new market of crypto users, which are now over 221 million worldwide, and expected to double in the coming months”, adds Rosario Scarpato, Founder and Director of the IWCB.
