Binary.com Announces Initial Coin Offering (ICO) – Blockchain News
Binary.com, a pioneer in online binary options trading, has just announced it will be performing an Initial Coin Offering (ICO) that gives potential investors an opportunity to invest in the company’s future. Binary.com is offering up to 10 million digital tokens through its ICO – all of which will be available through an open auction on its website.
By purchasing the tokens, investors are granted exclusive token holder rights. These rights entitle them to receive payments equivalent to shareholder dividends, as well as convert tokens into ordinary shares.
“The next step for a company of our size is naturally to go public by means of an Initial Public Offering (IPO). However, an IPO in itself is a cumbersome process that’s remained relatively unchanged for decades. Some would say it’s ripe for disruption,” says Binary.com Founder & CEO, Jean-Yves Sireau.
“By opting for the ICO route –– a kind of ‘IPO on the blockchain’ –– we can go beyond the limitations of a traditional IPO. We get a wider reach of potential investors, lower costs of trading and an immutable audit trail of transactions on the blockchain. Through the ICO, we can also establish our trading services among the cryptocurrency community, which is a prime target demographic for our platform,” adds Sireau.
Binary.com’s ICO, or token sale, will be conducted through an electronic Dutch auction process on its website where the price of each token is determined through a bidding process. The ICO is expected to launch in Q4.
In preparation of its ICO, Binary.com enhanced its existing cashier system to support cryptocurrency denominated accounts that allow its clients to deposit, trade and withdraw funds in Bitcoin, Litecoin, and soon Bitcoin Cash and Ethereum. This means that potential investors can also bid on the tokens using these cryptocurrencies.
Binary.com has also reached an agreement to list its tokens post-ICO on the Lykke.com Exchange –– a global cryptocurrency marketplace where various financial instruments can be traded and exchanged against each other, whatever their asset class or transaction size.
The Binary.com ICO is only available to residents of selected countries. In some countries, prospective investors are required to verify their status as qualified or professional investors. The ICO is not available to U.S. investors. To learn more, visit https://ico.binary.com.
Source: Read Full Article