Press Release: October 23, 2017
BINARY.COM OFFERS SECURITIES-BACKED TOKENS IN INITIAL COIN OFFERING (ICO)
Binary options pioneer’s smart tokens will grant payments equivalent to shareholder dividends
Binary.com, the pioneer of online binary options trading, has announced an ICO, or token sale, for late 2017 that will give potential investors tangible economic benefits, unlike the utility tokens offered in most ICOs today.
For a start, each token grants its owner the right to receive payments equivalent to the dividends paid by Binary.com on its Ordinary Shares.
After the ICO, the tokens will also be listed on the Lykke.com Exchange where the tokens can be bought, sold, and potentially rise in value –– similar to shares on a stock exchange. Lykke is a fintech company that’s building a global blockchain-powered marketplace for securities-backed tokens.
“We’re one of the first companies in the world to perform a securities-backed token sale. In many ways, it will be similar to an Initial Public Offering (IPO) –– only on the blockchain. This token sale will also enable us to go beyond the limitations of an IPO. We can tap into a wider pool of potential investors, lower costs of trading, and an immutable audit trail of transactions on the blockchain,” says Binary.com Founder & CEO, Jean-Yves Sireau.
Binary.com’s token sale will offer up to 10 million smart tokens through an open auction on its website where the price of each token will be determined through a bidding process. Potential investors can choose to purchase the tokens using a wide range of currencies, both crypto and fiat.
What is an ICO
An ICO is a fundraising method that’s relatively similar to an IPO, whereby cryptocurrency tokens are issued to investors instead of shares. This year alone, 176 ICOs have raised over USD 2.7 billion (as of mid-October). These figures are tracked by Coinschedule, a website that covers ICO crowdfunding projects.
Binary.com (formerly BetOnMarkets.com) is the pioneer in online binary options trading. It was
launched in 2000 to make binary options easily available to retail investors worldwide. Before
the emergence of Binary.com, binary options were typically traded in large quantities by large
financial institutions and hedge fund firms.
In 2016, Binary.com branched into Forex and CFD trading through the adoption of the
MetaTrader 5 (MT5) multi-asset trading platform. In the first half of 2017, Binary.com introduced
several digital currencies to the list of tradable instruments on MT5.
For more information, please visit: https://ico.binary.com.