Initial coin offerings (ICOs) have raised over $20 bln this year, and are completely changing the way startups gain access to capital, especially for those in the early stage. In the ICO process, startups issue their own digital tokens and exchange them with by contributors worldwide for other cryptocurrencies like Ethereum or Bitcoin. Tokens are accordingly classified by their use cases and functions, the most common of which dichotomizes them into utility or security tokens.
On July 1, Decentralised Institute Asia organized a RISE afterparty, invitation-only “Global Blockchain Snapshot” event in Hong Kong. This event brought together the brightest thought leaders in the crypto space, bringing fresh perspectives and innovations from industry leaders and experts from traditional markets.
We are thrilled to announce that Kenneth King has joined Plutux as the company president. Kenneth brings to the team a wealth of experience, having co-founded and worked as CEO of the Chinese mobile video application Tiantian, which was acquired by China’s largest mobile video platform Yixia Tech (Miaopai) in 2016.
Mindworks, a Hong Kong based venture capital firm specializing in early and expansion-stage technology start-ups, has invested into Plutux, a Gibraltar, Hong Kong and Singapore-based cryptocurrency exchange for an undisclosed amount. Plutux plans to establish a Gibraltar-licensed and fully regulated exchange that facilitates cryptocurrency trading in a mobile-centric environment.