Cryptocurrency and ICO news 11.07.2018
World’s first ICCO
Palladium will launch the world’s first so-called initial convertible coin offering (ICCO) with two partners including Bittrex on Malta.
Palladium, which wants to build a regulated cryptocurrency exchange in Malta, will seek to distribute $150 million in tokens in the ICCO, scheduled to begin July 25.
The exchange will operate under full regulation of Malta’s increasingly crypto-friendly jurisdiction.
“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 cryptocurrencies,” founder and chairman Paolo Catalfamo commented.
An ICCO differs from an ICO in that investors will be able to convert tokens into company shares at a later date – in Palladium’s case, three years after the sale.