Against the backdrop of the ICO ban in China, Chinese investors acquired 30 Percent in Financial Messenger App Telegraf.Money
On September 4, the People’s Bank of China issued an order banning ICO for Chinese companies and obliged local ICO platforms, as well as companies that had previously issued tokens to return all funds to investors.
At the end of July, the creators of the Telegraf.Money messenger and the Chinese company Erenhot Heng Xin Trade Co, Ltd signed an agreement. According to which, Chinese investors were buying not the messenger’s tokens, but a 30% share of Telegraf.Money’s legal entity.
According to the Information Agency INTERFAX, the representative of the company, Zhang Jinrun, even before the ban on carrying out the ICO, said: “By investing in the development of the financial messenger, we see great prospects in this tool. Now the cryptocurrency market in China is progressing at a record pace, we are interested to offer new opportunities. In addition to improving the positions of the domestic cryptocurrency, we plan to develop partnerships with WeChat and Alipay. “
Azamat Kurbanov, one of the co-founders of Telegraf.Money, noted that in September ’17 the platform plans to launch an ICO, which will open new opportunities for the development of the messenger and the DEBIT Coin cryptocurrency.
Erenhot Heng Xin Trade Co., Ltd owns mining facilities in the Inner Mongolia region (China). Own resources and high productivity allow the company to compete successfully in the market, offering optimal solutions.
On the blockchain Ethereum, 1 billion DEBIT Coin tokens have already been issued — the internal cryptocurrency of the Telegraf.Money messenger. In August, the Test distribution of tokens among users of the messenger was completed, which resulted in the sale of coins worth about $ 6 million.
In this way, the Chinese company, as an investor, does not qualify for a recent ban on purchasing crypto-currencies domestically from local issuers, by purchasing directly a share in the messenger operator — UK company Blockchain Messenger Ltd.
According to the Information Agency INTERFAX