Acudeen slates more roadshows for its $35-M cryptocurrency sale
Filipino startup Acudeen Technologies, Inc. is moving back its $35million cryptocurrency offering by a month from April 9 to May 7, 2018, so it can conduct more roadshows in Asia.
Acudeen said the additional time would also give the company more time to review all whitelisting applicants. The firm is planning to tap the cryptocurrency market to raise capital via the public sale of the so-called ACU tokens.
The startup that offers an online technology platform that connects small and medium-sized enterprises (SMEs) to financial institutions through invoice discounting.
“The remaining tokens for the public sale will be on a first-come, firstserved basis and so we highly suggest everyone to get whitelisted as soon as possible to make sure that you will be able to participate on the public sale,” the company said.
Acudeen announced last month it would conduct a token sale to raise funds to bankroll its expansion program.
A total of 10 billion ACU tokens will be sold at a price of US$1 per 100 coins with the proceeds going towards the startup’s geographic expansion and its migration onto a blockchain platform.
“The ACU tokens serve as our answer to the growing demand for our services outside of our current consumer market. The purpose of our token sale is to accelerate more businesses with our services in the coming years through this revolutionary technology,” said Acudeen chairman Januario Jesus Atencio III.
The offering was issued from Acudeen’s recently established regional office in Singapore, as the Philippines has yet to issue guidelines on coin offerings.
Acudeen said the Singapore office will also serve as its springboard to expanding into other emerging markets in Southeast Asia.
Acudeen was founded in 2016 and facilitates receivable discounting for small businesses in the country.
The company is ramping up its regional expansion to take advantage of the combined total addressable market of over $400 billion in Asia. It is set to launch operations in Myanmar this year as well as Vietnam and Indonesia next year. (JAL)