Introduction to RIV Coin and RIV Chain
The RIV Coin has been introduced as the first cryptocurrency backed by real asset reserves, marking the institutional phase for validator nodes of the RIV Chain. Unique in structure, it aims to attract security-conscious investors by excluding rehypothecation, thus ensuring a genuine asset-backed experience.
Management and Investment Strategy
RIV Capital, an innovative entity established by Roberto Rivera in Luxembourg and Dubai, manages the reserves invested by RIV Coin buyers. These funds are invested using a proven strategy that has been effective since 2011, which mirrors the approach applied in RAIF, a Luxembourg-based alternative fund. The investment strategy has delivered a remarkable total return of 33.47% since its inception.
The Team Behind RIV Capital
Alessandro Delia Russell, the managing director at RIV Capital, utilizes his extensive experience, including a decade at Jefferies and prior positions at Nomura and Lehman Brothers, to engage institutional investors and family offices for the recent launch of the RIV Capital Sicav RAIF. This hedge fund, launched in October 2023, continues to follow the established investment strategy that has been integral to RIV’s success.
Current Valuation and Investment Diversification
Currently, the holding company boasts a pre-money valuation of approximately 120 million euros, backed by a favorable adjusted EBITDA of around 7.5 million euros. Rivera has effectively diversified investments, including capital raised and deposited with UBS Luxembourg and ventures into private markets, which have proved beneficial during stock market downturns.
Validator Nodes and RIV DAO Structure
The pre-sales for the validator nodes of the RIV Chain have commenced, with the RIV Coin set to be issued by the RIV Capital DAO, a non-profit foundation responsible for token issuance. This foundation ensures that funds cannot be reused as collateral, a safeguard against fraud, exemplified by the incidents involving FTX.
Regulatory Standing and Compliance
RIV Digital, a subsidiary of RIV Capital, is authorized to operate as a Virtual Asset Service Provider (VASP) in Italy and is registered with the Organismo Agenti e Mediatori (OAM). After the summer, the company will update its regulatory framework in accordance with upcoming changes mandated by the Omnibus Decree, allowing it to continue operations under current regulations until 2026.
Conclusion: A New Era for Trust in Cryptocurrency
In a landscape marked by regulatory uncertainties, RIV Coin seeks to redefine cryptocurrency by prohibiting rehypothecation, ensuring a legitimate backing verified by independent parties, and operating within a legally structured DAO. Rivera emphasizes a commitment to restoring trust in the crypto market where others have faltered, establishing RIV Coin as a model of transparency and security.
