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Author Topic: [2018-07-12] World’s First Initial ‘Convertible Coin Offering Launches in Malta  (Read 21 times)
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July 12, 2018, 10:03:46 AM

World’s First Initial ‘Convertible Coin Offering (ICCO)’ Launches in Malta

The Maltese Islands continue to be among the prime movers in the crypto and blockchain space with new developments occurring almost every day. In fact, Tuesday was another landmark as a company called Palladium claimed to launch what it has called as the world’s first Initial Convertible Coin Offering or (ICCO) platform.

In this innovative case, what has been termed as the ‘tokenized convertible warrant’ will be regulated by a prospectus which is to be approved by the Malta Financial Services Authority. This project is subject to stringent EU rules and its eventual issuance will hand investors the right to convert these tokens into Palladium shares three years after they are issued.

“We expect this project, which will create more than 100 job opportunities, to be a historic landmark and to bridge the gap between traditional financial services and crypto-currencies,” Palladium founder and chairman Paolo Catalfamo said at the press conference marking the ICCO’s launch.

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