Company will use the funds to speed up the implementation of its acclaimed Infinity Project and main sale Global ICO.
SEOUL, South Korea, Jan. 5, 2018 /PRNewswire/ -- HYCON's Initial Coin Offering (ICO), quickly and easily met its target of raising 3,500 BTC. Sales figures for HYCON's initial ICO raised precisely 3,508.355025 BTC in just 8 hours, at the time worthy of approximately KRW 14.8 billion (approx. 13.9 million USD) on September 25, 2017. Glosfer's Infinity Project, which is a cryptocurrency ecosystem based on Glosfer's cryptocurrency HYCON looks to help the real economy with blockchain technology.
This ICO in September 2017 was exclusively for the Korean domestic market. Glosfer is set to hold its global ICO in early 2018.
Taewon Kim, CEO of Glosfer, said, "The overwhelming support is the reflection of high expectations for our Infinity project, which aims to use cryptocurrency in the real economy. People showed great interest in our projects of applying blockchain technology in real businesses based on blockchain technology and of facilitating the ecosystem. We will continue to share the progress of the project and communicate with the market so that we can reach even higher levels of success in the global market stages of our ICO."
During the ICO of HYCON, an achievement of the Infinity Project, market observers and participants expressed great interest. Since August 2017, Glosfer has held nationwide business information sessions, and since then it has actively communicated with people on social networking services including Facebook, blogs, and Kakao chat to promote Glosfer's project and HYCON.
Hanseung Yoo, Director of Glosfer, said "We want to contribute in helping Korea, which is the 3rd or 4th largest cryptocurrency trader, to lead the global cryptocurrency market. We will improve on issues highlighted in the 1st stage of our ICO, which was targeting Korea, to create an even higher performance in the 2nd stage of our ICO, which will aim at the global market."
Glosfer is a leading blockchain company in South Korea. It provides an open source platform based on a blockchain technology. As the first generation of blockchain company in South Korea, the company strives to expand its activities in different industries to influence domestic markets using its developments such as PACKUTH, cryptocurrency trading platform as well as international remittance services. With Infinity Project based on HYCON coin, the company establishes and facilitates its own cryptocurrency ecosystem while contributing to making a transparent and fair society based on blockchain technology by working with public institutions.