Coinvest Announces Successful Token Distribution Following Sale on Republic Crypto
DALLAS, TX — December 3, 2018 — Coinvest, a full-suite blockchain technology company for users to learn, invest, and spend cryptocurrencies, is announcing the distribution of its native security token, COIN, to more than 600 investors. The token distribution follows a successful crowdfunding campaign on Republic Crypto, an AngelList-affiliated crowdfunding platform for startups. While previous security token distributions to non-accredited investors have been unregistered and several of them have been subsequently pursued by the U.S. Security and Exchange Commission (SEC), this distribution was conducted in accordance with JOBS Act’s Regulation Crowdfunding (Reg CF) guidelines.
Republic CEO Kendrick Nguyen said: “The team at Republic Crypto is proud to be partnered with Coinvest to bring an exciting investment opportunity to our investor audience. Our team has developed a proven process to screen for some of the best projects in the blockchain space, looking for existing traction and examining their team, technology, and potential for disruption. Coinvest’s delivery of their token is a sign that the project isn’t just promoting a great idea, but it’s providing a tangible product. This example of a successful fund raise and token distribution show why regulation is such an important factor in bringing maturity to the blockchain space.”
Coinvest raised the maximum goal of $1.07 million USD under Reg-CF guidelines in its Republic Crypto campaign. The sale was first opened on June 13, 2018 and concluded within 48 hours on June 15. A total of 617 investors participated in the crowdfunding campaign and the campaign funds have gone to the creation of a hardware wallet and investment trading platform, capable of handling all of its user’ cryptocurrency investment needs.
Damon Nam, CEO of Coinvest said: “As an advocate for accelerating the growth of the blockchain industry, we always aim to align ourselves with credible partners that share the same business goals, values, and standards that our community has grown to expect from Coinvest. We were extremely excited to align with Republic Crypto, a leader in the investment crowdfunding arena, to provide new levels of access and investment in our company through a secure and compliant offering. With help from the talented team at Republic Crypto, we were able to seamlessly navigate through complex legal frameworks while increasing interest in the Coinvest brand and help close the offering in 48 hours. The funds raised through Republic have enabled our company to achieve major milestones and product releases in only six months time.”
COIN will be the native token for the Coinvest ecosystem. COIN holders will be able to create investment transactions and portfolios in Coinvest Trade, a fully decentralized trading platform. Users will also able to receive assets from investment portfolio profits and index fund investment fees and purchase goods and services from merchant partners. In the near future, Coinvest plans to build a full ecosystem for investors starting from the decision-making process, through investment, to a debit card payment system where participating merchants will accept COIN.