(Repeating after minor changes in intro)By Gurdip SinghSingapore, Nov 10 (PTI) An Indian businessman inSingapore is set to launch 300 million Initial Coin Offertokens with the support of a multi-million dollar mininginfrastructure for businesses across Asia, including forIndian investors.
The Initial Coin Offer (ICO) tokens aim to raise USD 15million from next month, said Vikas Gupta, chief executiveofficer of Miners at Work (MAW) which is building virtualcrypto-currency infrastructure in Singapore.
"We have a strong feedback and interest from Indian andAsian investors," said Gupta of the upcoming ICO launch andMAW infrastructure.
The pre-ICO launch will be on December 6, followed by apublic crowd-sale from January 5, 2018.
MAW experts are working on the ICO and infrastructurefrom the head-office in Singapore and back-office in Gujarat.
MAW "GINNI" tokens will be listed on at least twoexchanges, allowing investor to trade and exchange them withother tokens, Gupta said.
"The MAW proposal is designed for savvy investors andcrypto-currency businesses to profit from virtual currencytrade. It will also make mining process user friendly for newminers of cryptos," he said.
The MAW ICO is different from other crypto-currenciesissues as it has a business process in place, said Gupta, whois also the chairman of the sales committee of USD 1 billionSim Lim Square, one of the largest electronics shopping hubsin Asia.
A pilot project has been tested with necessary space,power and team, he said about the MAW infrastructure.
Proceeds from MAW ICO will be used for installing miningservers, FASTCOIN crypto Auto Teller Machines (ATM) anddevelop new value-added products, he said.
The first ATM will be installed in Singapore in a month.
The expansion will be driven by token demand, since thevalue created for virtual currency has been strong in the pastyears, Gupta said.
A cryptocurrency is a digital asset designed to work as amedium of exchange using cryptography to secure thetransactions and control the creation of additional units, andto verify the transfer of assets. PTI GS MRJ AKJMRJ.
This is unedited, unformatted feed from the Press Trust of India wire.