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Agora AltX Launches First-Of-Its-Kind Blockchain Solution for Opportunity Zone Funds

January 23, 2019

PHOENIX--(BUSINESS WIRE)--Jan 23, 2019--Agora AltX, a fund administration platform, today announced the launch of its first-of-its-kind blockchain technology, Pathchain TM. Pathchain TM, which is currently patent-pending, provides verifiable, immutable, and complete digital records of financial transactions, transaction participants, and supporting documentation. Pathchain TM provides end-to-end automation to alternative fund sponsors, removing friction from the transaction process and providing greater investor transparency. Agora AltX is excited for this announcement, as Pathchain TM is a proprietary blockchain that serves as the backbone of Agora’s fund administration services. Pathchain TM will be launched at the Opportunity Zone Expo, January 25, 2019 in Los Angeles, CA, Booth #11.

To realize the potential of Pathchain TM, Agora AltX has partnered with reputable banking institutions to provide escrow, disbursement, and operating accounts to fund sponsors that seamlessly integrate with the Agora AltX technology. Agora’s technology and service offering has been customized for Opportunity Zone fund administration, a new provision in the 2017 Tax Cuts and Jobs Act, which provides investors capital gain tax benefits.

“The inspiration behind Agora AltX, was to provide a disruptive technological solution that could effectively address the industry’s three greatest threats: cost inefficiency, transactional accountability and data security. This will be a game changer,” states Nico R. Willis, Managing Director.

Agora AltX’s blockchain technology provides vaulted data security, record transparency, and bank account validation, all of which are critical to keeping complete and timely records, counteracting fraud and abuse, and promoting integrity in Opportunity Zone investments.

“Fund Managers can initiate financial transactions from the Agora AltX interface, knowing complete records are being instantaneously recorded, and distributed to permissioned users. The time and cost savings realized are tremendous and differentiated from other products in the marketplace,” says Kyle Walker, Managing Director.

The Agora AltX Platform offers a comprehensive suite of products and services that lower the overall cost structure of the Opportunity Zone Fund, including: Digital setup for subscriptions, disbursement and operating bank accounts; sub accounting detail and documentation storage; and Opportunity Zone Business and Investor tracking and reporting. Agora also offers complimentary investment tools for Opportunity Zone Funds to provide their investors. These tools include investor tax optimization, charitable giving analysis, Opportunity Zone portfolio management, and streamlined KYC, AML, and Accreditation checks.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190123005709/en/

MARISA DIAZ - 833-OZ-AGORA /mdiaz@agoraaltx.com

KEYWORD: UNITED STATES NORTH AMERICA ARIZONA CALIFORNIA

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE PROFESSIONAL SERVICES BANKING FINANCE

SOURCE: Agora AltX

Copyright Business Wire 2019.

PUB: 01/23/2019 01:35 PM/DISC: 01/23/2019 01:35 PM

http://www.businesswire.com/news/home/20190123005709/en