Japan’s Quoine raises $105m in oversubscribed ICO

QUOINE CEO Mike Kayamori at DEALSTREETASIA's Asia PE-VC Summit 2017.

Cryptocurrency firm Quoine, the first licensed global cryptocurrency exchange in Japan to launch a global Initial Coin Offering (ICO), has closed its oversubscribed ICO – the QASH Token Sale – and raised $105 million in investment proceeds.

The QASH token will be listed on QUOINEX, QRYPTOS and partnered exchanges by 1 December 2017. The firm launched the token sale in order to fund the growth of the QUOINE LIQUID platform, which is aimed at providing liquidity for investors in the ICO segment of the cryptocurrency market.

The QASH Token Sale had 4988 participants from 98 countries worldwide and saw the allocation of 350 million QASH (the equivalent of 350,000 ETH.

Investment proceeds from the ICO will drive the development of the QUOINE LIQUID platform, which aims to connect all major exchanges to a single platform serving both cryptocurrency and traditional finance communities.

QUOINE LIQUID reportedly features the World Book, a globally sourced trading platform and Prime Brokerage, which offers direct market access, fiat management, crypto/fiat credit facilities and real-time reporting.

The launch of the platform aims to resolve the liquidity issues that have limited the growth of the global crypto-token economy. The platform is meant to function as a financial utility facilitating the demand for liquidity of various digital tokens currently in circulation.

Quoine maintains roots in both Japan and Singapore, which have emerged as hubs for various players in the global cryptocurrency space due to their regulatory frameworks.

In an official statement, Mike Kayamori, co-founder and CEO of Quoine, elaborated: “Liquidity is the lifeblood of any industry, and with new crypto tokens hitting the market every day, the lack of liquidity is becoming a significant problem. In traditional finance, companies such as Goldman Sachs and Merrill Lynch provide liquidity, but there is nobody providing liquidity at scale in the crypto world today.”

Also Read:

Japan’s QUOINE plans to raise $147m through ICO starting October 21

Many opportunities for many blockchains: Mike Kayamori, QUOINE

Asia’s cryptocurrency traction overstated, PE/VC sector lacks alignment: Aswath Damodaran

China’s largest cryptocurrency operators laying groundwork for new life in Japan, HK

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.