Recast1 Secures $15 Million Capital Commitment from Global Emerging Markets (GEM)

Recast1 Secures $15 Million Capital Commitment from Global Emerging Markets (GEM)

London, United Kingdom–(Newsfile Corp. – April 25, 2022) – GEM Global Yield LLC SCS (“GGY”), the Luxembourg-based vehicle that is part of the GEM Group, made a $15 million capital commitment to Recast1, a cryptocurrency start-up.

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GEM Group made a $15 million capital commitment to Recast1

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“Recast1 will use GEM capital to strengthen its position in the industry, and will work tirelessly to create a user-friendly coin that can also be used for commercial purposes. With GEM’s funding, we’ll be able to take Recast1 even farther, with our effective answers to the unavoidable issues of cryptocurrencies,” Imran TARIQ, CEO of Recast1.

About Recast1

Recast1 Coin is the first “user-oriented coin” that is decentralized and independent of global fiat currencies, with a unique CMA algorithm to assure stability. R1 is neither backed by reserves or pegged to any other currency; rather, R1 is solely trustworthy due to its algorithm, which is based on user activities. On the other side, coins and algorithmic coins are simply concerned about price rather than demands. Recast1 offers incentives based on changing transfer demand, focuses on users, and allows them to be cost-effective; as a result, everything revolves around the users and their needs.

Its purpose is to make the system more user-friendly by eliminating the average annual loss and excessive fees that daily/hourly customers pay.

R1 rewards every one of its users every time a transaction is completed.

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About GEM

Global Emerging Markets (“GEM”) has offices in New York, Paris and Nassau Bahamas. It is a $3.4 billion alternative investment group that manages a diverse set of investment vehicles focused on emerging markets and has completed over 530 transactions in 70 countries covering 5 continents.

GEM’s investment vehicles provide the group and its investors with a diversified portfolio of asset classes that span the global private investing spectrum.

Each investment vehicle has a different degree of operational control, risk-adjusted return and liquidity profile. Our family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities (PIPEs) and select venture investments.

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Media Contact
Business Name : Recast1
Contact Person: Imran TARIQ
Email: [email protected]
Country : London/UK

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Published Mon, 25 Apr 2022 18:30:52 -0500

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