TOKYO, Nov. 9, 2017 /PRNewswire/ -- QUOINE's ICO, also known as the QASH Token Sale, started on November 6th at 00:00AM SGT. The QASH Token Sale had 4,988 participants from 98 countries around the world. At the end of the sale on November 8th at 23:59PM SGT, the allocation of 350 million QASH (the equivalent of 350,000 ETH or USD105 million) was oversubscribed, making it one of the most successful blockchain fintech ICOs globally.
Given the ICO hype, it seems as if anyone with a white paper, a good idea and a team of advisors can launch an ICO. Many ICOs are funded at the very first stage of their life cycles which represents significant product development risk for token holders. As a result, studies show that most ICOs fail. This leads to overall fatigue from hyped-up ICOs that have seen the value of their tokens depressed post-listing.
The outstanding success of the QASH Token Sale poses the question of what it would take for a company to win the trust of public investors and hold a successful ICO.
QUOINE's success in raising 350 million QASH with an oversubscribed placing over 3 days can be attributed to the following factors:
1) The team at QUOINE is comprised of banking and finance veterans from global top tier investment banks.
CEO and Co-founder Mike Kayamori has more than 20 years' experience in investments, business management, IT and venture capital. Both CEO Mike Kayamori and Chief Financial Officer Katsuya Konno were from Softbank. Chief Technology Officer and Co-founder Mario Lozada came from Credit Suisse and Merrill Lynch. Chief Compliance Officer Ken Mazzio came from Merrill Lynch and Barclays. Chief Strategy Officer Ray Hennessey is a Goldman Sachs and Merrill Lynch veteran. Head of Operations Seth Melamed was also at Goldman Sachs for more than 10 years. Chief Trading Officer Andre Pemmelaar has experience in automated trading systems for more than 15 years.
The combined financial and technical expertise of QUOINE team members stand behind the quality and security of QUOINE's trading platforms and exchanges, which include QUOINEX, QRYPTOS and now QUOINE LIQUID. QUOINE LIQUID will be a revolutionary platform to solve one of the most crucial problems in the global utilization of cryptocurrencies, which is the lack of market liquidity in the crypto economy.
2) QUOINE is the First Global Cryptocurrency FinTech Company to Receive A License from Japan Financial Services Agency
As a leading global fintech company, QUOINE provides trading, exchange, and next generation financial services powered by blockchain technology. The company has been in existence for 3 and a half years with offices in 3 locations: Tokyo, Singapore and Vietnam. QUOINE adopts a pro-regulation stance, as the team believes that regulatory compliance will help foster a safe, secure environment for cryptocurrencies to help shape the future of the financial services.
3) The QUOINE LIQUID platform is the driving force behind the QASH Token Sale and leverages QUOINE's international network of trusted fintech partners.
The funds raised from the QASH Token Sale will strengthen the development of QUOINE LIQUID platform. The QUOINE LIQUID platform is a solution that will transform the crypto economy by providing liquidity, a much needed element across crypto markets. QUOINE's mission to unite all major exchanges to one single QUOINE LIQUID platform attracted great interest from the crypto and traditional finance communities, that acknowledge the importance and urgency of liquidity in the crypto space. More powerful than any existing platform in the marketplace, QUOINE LIQUID features the World Book, a globally sourced trading platform and Prime Brokerage, a suite offering direct market access, fiat management, crypto/fiat credit facilities and real-time reporting.
QUOINE has strong relationships with many of the world's top financial institutions, Asia regulators, cryptocurrencies, exchanges, and fintech startups. Among these major partners include: Bitfinex, Dash, Binance, Blockwave, ZB.com, BW.com, EXX.com, and CEX.IO.
With a proven team, proven platforms, and a pro-regulatory practice, QUOINE is partnering with cryptocurrency exchanges around the world to build a Global Liquidity Alliance, as part of the QUOINE LIQUID platform. By proactively developing long term partnerships with all major cryptocurrency exchanges and industry players, QUOINE is perfectly poised to bring about global liquidity for the crypto economy.
So what is the next step for QUOINE after the QASH Token Sale?
The QASH Token Sale is only the beginning. After sufficient funds are raised, the QUOINE team will be working hard to develop the QUOINE LIQUID platform to meet the huge demand for liquidity in the crypto markets.
Tentatively, QASH will be listed on QUOINEX, QRYPTOS and partnered exchanges by December 1st.
Regarding the huge success of the QASH Token Sale, CEO and Co-founder Mike Kayamori commented: "I would like to thank everyone who participated in our QASH Token Sale. Our responsibilities are bigger now. We have a clear fiduciary responsibility now to our token holders. First, from the product development perspective, we have to deliver our product as promised. QUOINE LIQUID already has the core development, and now we are moving into refining the user experience. Second, we have to provide liquidity by making sure that besides QUOINEX, QRYPTOS and QUOINE LIQUID platforms, other exchanges will be listing our QASH tokens, that there will be price stability, and there is an upward appreciation to all token holders. I would like to thank everyone, including our team members for your commitment and continued support. And I would like to invite everybody to be a part of this exciting journey."
QUOINE is a leading global fintech company that provides trading, exchange, and next generation financial services powered by blockchain technology. With offices in Japan, Singapore and Vietnam, QUOINE combines a strong network of local partners with extensive team experience in banking and financial products to deliver best in class financial services for its customers. More information is available at www.quoine.com
In 2014, QUOINE launched Quoine Exchange, now known as QUOINEX, which became one of the largest bitcoin exchanges in the world by transaction volume. QUOINE offers powerful trading features, a sophisticated user dashboard, and secure regulatory compliance to individual and corporate customers. QUOINEX provides trading services for bitcoin and fiat currency pairs in Japanese yen, US dollar, Euro, HK dollar, Indonesian rupiah, Singapore dollar, Philippine peso, Indian rupee, Australian dollar, and Chinese Renminbi. QUOINEX has exceeded USD12 billion in transactions in the past two years. In September 2017, QUOINE Corporation became the first global cryptocurrency exchange to be officially licensed by the Japan FSA. More information can be found at www.quoinex.com
In June 2017, QUOINE launched a fully digital cryptocurrency exchange and trading platform called QRYPTOS, exclusively for cryptocurrency trading in desktop version at www.qryptos.com.
In October 2017, QUOINE became the first licensed global cryptocurrency exchange in Japan to launch a global Initial Coin Offering (ICO), also known as the QASH Token Sale. QUOINE Corporation was officially licensed by the Japan FSA on 29th September 2017.
In November 2017, QUOINE successfully raised 350M QASH (the equivalent of 350K ETH or ~USD105M) in a significantly oversubscribed ICO at https://liquid.plus, to fund the growth of the QUOINE LIQUID platform. More information can be found at:
QASH Token and QUOINE LIQUID website:https://liquid.plus
QUOINE ICO Brand Reel:https://www.youtube.com/watch?v=Q5mvYnammC0&t=51s
QUOINE LIQUID Reel:https://www.youtube.com/watch?v=O5gs2sX7W-g&t=2s
Contact Person: Katherine Ng