Telcoin ICO to Provide Banking Opportunities Through Telecommunications
Telcoin Pte Ltd, which aims to connect 2 billion people in the unbanked economy to mobile money using telecommunications, has today announced its initial coin offering. The company aims to raise between US$10 million to US$25 million through the ICO, with the funds raised being used to invest in technology infrastructure, meet regulatory requirements and to expand the business globally.
The firm, which aims to accelerate financial inclusion through cryptocurrency, has seen investment interest from entrepreneurs and high net worth individuals globally. Current investors include Mixi co-founder Batara Ito and East Ventures. The company believes that demand for cryptocurrencies linked to telecommunication companies is driven by the cryptocurrency’s compliance, know your customer (KYC) processes and transparent transactions.