15 November, 2017: Binary.com, the pioneer of online binary options trading has launched its highly-anticipated Initial Coin Offering (ICO) to give potential investors an opportunity to invest in a best-of-breed type of ICO. The ICO will run from 15 November to 25 December 2017.
The company is calling it an “IPO on the blockchain” as the ICO is meant to be a genuine substitute for a traditional IPO. To that end, they are issuing securities-backed smart tokens while implementing best practices in corporate governance, investor disclosure, and transparency.
“The next step for our company is naturally to go public via an IPO. However, an IPO is a cumbersome process that’s remained relatively unchanged for decades. It is ripe for disruption. By opting for the ICO route, 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 our ICO, we will also establish our trading services among the global cryptocurrency community,” says Binary.com Founder & CEO, Jean-Yves Sireau.
“We also believe that traditional stock exchanges will gradually be replaced by blockchain exchanges in the coming decade. This ICO will give us an opportunity to establish ourselves at the forefront of blockchain innovation,” adds Sireau.
Binary.com is issuing up to 10 million smart tokens based on the ERC20 protocol. Investors can purchase the tokens through an electronic Dutch auction process on the Binary.com website to receive unique “tokenholder” rights. These rights entitle them to receive payments equivalent to shareholder dividends, as well as to convert tokens into Ordinary Shares.
Furthermore, the tokens will be listed on the Lykke.com cryptoasset exchange after the ICO is over. This means that the tokens can be bought and sold just like shares on a stock exchange, enabling them to potentially rise in value.
The company plans to use the funds raised from its ICO to pursue several high-growth initiatives that can help them generate significant shareholder returns.
For more information, please visit: https://www.binary.com/en/ico.
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