FOR IMMEDIATE RELEASE
CINCINNATI, OH – October 8, 2019 – 10XTS, a leading blockchain technology and fintech company, was invited to take the stage at StartupCincy Week 2019 to present a compelling case study on raising venture capital investment as a qualified Opportunity Zone business. As an Opportunity Zone-based business, 10XTS has entered into a strategic partnership with Opp Zone GP, a self-directed Opportunity Zone fund-as-a-service, providing investors with tax-advantaged investment opportunities made possible under the 2017 Tax Cuts & Jobs Act (TCJA).
The presentation highlighted how 10XTS has positioned itself to benefit from the Opportunity Zone program, which was designed to encourage long-term investments in economically underserved communities. By offering investors the ability to capitalize on tax benefits outlined by the TCJA, 10XTS distinguishes itself within the startup investment landscape, attracting investors eager to maximize financial growth while supporting community revitalization.
A Unique Opportunity for Tax-Advantaged Investment in 10XTS
10XTS’s strategic relationship with Opp Zone GP provides the vehicle necessary to offer investors a tax-preferred investment structure enabled by the TCJA. The Opportunity Zone provision allows investors with capital gains to roll their gains into a qualified Opportunity Zone investment. By doing so, investors can reduce their existing capital gains tax liability over time and receive complete exemption from capital gains taxes on any growth in the new investment if held for at least 10 years. This offers significant tax incentives to investors looking to optimize their portfolios while supporting growth-focused businesses like 10XTS.
“Our Opportunity Zone-based structure offers investors an exciting opportunity to support innovative technology while realizing substantial tax advantages,” said Michael Hiles, CEO of 10XTS. “Partnering with Opp Zone GP allows us to provide a compliant, tax-efficient structure that aligns with both investor and community goals, creating a unique proposition for our current round of funding.”
Exploring the Benefits of the TCJA and Opportunity Zone Investments
The Tax Cuts and Jobs Act introduced Opportunity Zones as a way to stimulate economic growth in designated areas by incentivizing private investments through significant tax relief. The TCJA’s provisions allow investors to defer taxes on current capital gains rolled into a qualified Opportunity Zone investment and reduce those gains by 10% if the investment is held for five years, and by an additional 5% after seven years. Most compellingly, any growth on the new investment is exempt from long-term capital gains taxes if the investment is held for at least 10 years.
By aligning with these Opportunity Zone incentives, 10XTS provides potential investors with a powerful tool for tax planning and wealth accumulation. The program is especially attractive to investors with substantial capital gains who wish to defer and ultimately reduce tax liabilities while supporting high-growth ventures in designated zones.
Creating Differentiation in Venture Capital through Opportunity Zone Status
10XTS’s Opportunity Zone-based investment structure adds a unique dimension to its fundraising efforts, providing differentiation from traditional venture capital investment structures. The company’s alignment with Opportunity Zone incentives gives it an edge in attracting investors who value both innovation and tax-optimized investment options. As an Opportunity Zone-qualified business, 10XTS offers a promising opportunity for investors seeking exposure to high-potential startups while realizing meaningful tax benefits.
Driving Community Impact and Economic Growth in Opportunity Zones
Beyond financial incentives, the Opportunity Zone program also provides social and economic benefits to underserved communities by directing private capital into areas needing revitalization. By locating in a designated Opportunity Zone, 10XTS not only attracts investment for its own growth but also contributes to the economic development of its local community, supporting job creation and increased economic activity.
10XTS’s commitment to leveraging the TCJA Opportunity Zone provision is part of its broader strategy to build a business that balances profit with purpose. Through the XDEX platform, the company is developing tools to bring transparency, security, and efficiency to digital asset management, all while contributing to economic revitalization in its local area.
Showcasing Opportunity Zone Strategy at StartupCincy Week
StartupCincy Week is Cincinnati’s premier event for entrepreneurs, investors, and industry professionals, providing a platform for innovative companies like 10XTS to showcase their work and engage with the local business community. 10XTS’s participation underscored its dedication to advancing fintech and blockchain technology while creating new opportunities for tax-advantaged investment in the Cincinnati area.
The company’s presentation on Opportunity Zone investments drew attention from investors and entrepreneurs alike, offering insights into how the TCJA can be leveraged to create substantial long-term value for both investors and communities. As one of the few tech startups actively pursuing an Opportunity Zone-based fundraising strategy, 10XTS remains at the forefront of a growing movement that integrates financial and community-oriented goals.
About Opp Zone GP
Opp Zone GP is a self-directed Opportunity Zone fund-as-a-service provider that enables businesses to establish tax-advantaged Opportunity Zone funds and investments. With a focus on creating compliant and efficient investment structures, Opp Zone GP supports companies looking to attract investors by offering a tax-preferred investment vehicle in alignment with the TCJA’s Opportunity Zone provisions.
About 10XTS
10XTS is a blockchain technology company focused on creating compliant, efficient solutions for digital asset management and data transparency. Its flagship platform, XDEX, provides a blockchain ecosystem for the issuance, management, and trading of digital assets, bridging the gap between traditional finance and decentralized technology. Based in Cincinnati, Ohio, 10XTS is committed to advancing financial market innovation and supporting economic growth within Opportunity Zones.
Media Contact
10XTS
Email: info@10xts.com
Website: www.10xts.com
