Metaps plans to start ICO platform business
On July 13, 2018, Metaps Inc. (“Metaps”) announced its plan to start an ICO platform business to further expand its finance business in global markets.
Metaps Plus, Metaps’ Korean subsidiary, completed the first Korean ICO with a successful crowdsale that ended in November 2017. Metaps Plus is now in preparation for the launch of “CoinRoom”, crypto currency exchange, in full-scale. In June 2018, Metaps Plus acquired a new patent on user identification system such as smart contract KYC. Having these strong track record in ICO related business, Metaps Plus recently received the first ICO advisory mandate from Bryllite Limited, Hong Kong subsidiary of Hanbit Soft Inc. (KOSDAQ 047080) and successfully supported them to raise large scale funds (expected ICO size of USD50mn)
In an environment marked by increasing global demand for ICO, Metaps plans to register one of its subsidiary, Metaps Crypto Gateways (MCG), as FSA licensed crypto currency exchange and start ICO platform business called “Metalist”. MCG aims to operate similarly to securities firms in financial industry offering one stop ICO advisory service while considering the legal, accounting, and tax perspective. (Chart 1).
Chart 1: Overview of “Metalist”
A number of concerns have been raised regarding the ICO and it creates the skepticism within the whole global ICO market. Under such circumstances, publicly listed companies has limited merit to do ICO considering the potential impact on the company’s reputation and its accounting uncertainty.
Metaps believes the global demands for safe ICO platform will rapidly increase and aims to take a role as one of the navigator to foster healthy crypto currency markets. Metaps considers to expand “Metalist” in Korea, Japan, Singapore, Switzerland and Malta.
■Metaps Crypto Gateways (MCG)
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