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Cryptocurrency management fund ICONOMI became the biggest European crowdfunded project after raising over $10 million from 3,398 founders through its ICONOMI Initial Coin Offering (ICO). Still, the amount isn’t final as not all the bank transfers have come through yet. In a week the company will start issuing 100 million ICONOMI tokens (ICN), which will be basically the shares of the company.
Slovenian startup Cashila, backed by early-stage VC LAUNCHUB, started ICONOMI as a new fund management platform with a focus on blockchain, the fastest growing sector in finance. The platform allows investors, even those who are not very into cryptocurrencies, to easily invest crypto ventures. This decentralised alternative to the multi-billion dollar fund management industry is expected to boost the value of digital assets.
ICONOMI accepts all major currencies and cryptocurrencies like Bitcoin, Ethereum, Lisk, Dash, Monero, Steem, EUR, USD and others. ICONOMI investors will be able to withdraw or liquidate their money at any time through the sale of ICONOMI tokens on major exchanges or at any POS terminal using ICONOMI Visa debit card. Most of the raised funds will be used for further development (62%), operations (25%), legal (9%) and marketing (4%).
Recently the company revealed launching two funds in the IV Q of 2016 – the ICONOMI.INDEX FUND and the ICONOMI.PERFORMANCE FUND. The first one – the ICONOMI.INDEX FUND – is a passive fund managed by an algorithm. It is transparent and traded on all major cryptocurrency exchanges. The second one – the ICONOMI.PERFORMANCE FUND – is an active fund managed by Cashila experts who will handpick the hottest startups in the decentralised economy.
Cover image credit: ICONOMI Facebook account.
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