Public Firm Becomes First to Launch an ICO in Singapore

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An ecommerce platform that recently established a token sale aimed to raise $50 million became Singapore’s first public company to hold an ICO. Y Ventures Group, which went public on the Stock Exchange of Singapore last year, declared a plan for producing a blockchain based ecommerce system in July and sent the sale of its AORA token live towards the end of the same month. In accordance with the firm, the tokens don’t represent ownership of equity in the company and, as such, shouldn’t be considered as securities – a move possibly aimed to circumvent concerns from market regulators. Notably, the Monetary Authority of Singapore – the nation’s de facto main bank – stopped one token sale in March as it deemed the exemptions seeking to venture to the ICO because, in the casethey did represent equity ownership.

Y Ventures can be the first, however it really isn’t the only public firm within the city nation to issue a cryptocurrency called K Coin into an area. Public entertainment firm Spackman also stated in February it intends to issue a cryptocurrency called K Coin into an attempt yet made any statement about an official launch, however star business. It hasn’t still made a statement on an official launch Apart from directly conducting token earnings Crowdvilla is now seeking to raise $18 million via an ICO to construct a jobs Crowdvilla is now seeking to raise $18 million via an ICO to construct a path into the cryptocurrency area.

In May, for instance, Crowdvilla is now seeking to raise $18 million via an ICO to construct a deal Crowdvilla is now seeking to raise $18 million via an ICO to construct a. MC Payment, a blockchain of payments set of shared vacation homes. Taking another path, MC Payment, a blockchain of payments company, obtained a lifestyle startup that raised $2.4 million via an ICO in 2017, and is now starting out to go public via the purchase of an already recorded Singaporean firm called Artivision. Although Singapore currently has guidelines for ICO, however no hard and fast rules, a spokesperson for the stock market CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Singapore image via Shutterstock. The leader in blockchain information, CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Sources:
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