World’s First ICCO: Palladium & Bittrex Team Up to Build New Crypto Exchange
World’s First ICCO: Palladium & Bittrex Team Up to Build New Crypto Exchange
 

The Malta based blockchain company, Palladium, just announced that they will be launching the world’s first initial convertible coin offering (ICCO). The platform will be powered by the Bittrex cryptocurrency trading platform technology. The official announcement was announced on the Bittrex support blog on July 10.

Palladium plans to distribute hundred $150 worth of their tokens towards building a regulated cryptocurrency exchange in Malta. The initial development of the exchange is scheduled to begin on July 25

The cryptocurrency exchange will reside within the crypto friendly jurisdiction of Malta, famously known as the “blockchain island”. The remaining funds left over from the initial round of investor capital will be used to acquire a controlled interest in the European bank. Other strategic investments in blockchain companies and financial services will also be purchased with the remaining investor capital as to complement Palladium’s future business model.

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The project is expected to be a for stork landmark which bridges the gap between traditional finance services and cryptocurrency. It is also expected to create more than 100 job opportunities within the budding economy of Malta.

The New World of ICCO

ICCO’s will essentially allow investors to convert their cryptocurrency into company shares which they can cash in at a later date. In Palladium’s case, three years after the initial sale.

The creation of an ICCO is considered to be a solution to the cryptocurrency industry’s biggest obstacle as it will help bridge the gap between cryptocurrency trading and traditional stock trading services.

The creators of the ICCO consider it to be one of the most innovative and unique investment opportunities of the year. Institutional investors who were concerned with the volatile and unregulated climate of cryptocurrency will be able to freely invest in ICCO’s due to their compliance and regulations by trustworthy governments.

Bittrex Powered ICCOs

The Bittrex cryptocurrency platform currently has over 25 million users as well as 250+ altcoins available or trade. In order to purchase ICCO tokens, investors will need to sign up for the Bittrex trading platform.

The technology that currently powers the Bittrex trading platform will provide the same security, scalability, and reliability for the sales and trade of ICCOs as it provides for its current trading platform users. According to the CEO of Bittrex, this will most likely help the company progress as a leader in cryptocurrency trading and further advance its power in blockchain technology.

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