Industrial material investment platform ZrCoin reels in $7m for its ICO

fintech insurtech wealthtech regtech ai cybertech esg news
fintech insurtech wealthtech regtech ai cybertech esg news

Russia-based ZrCoin has reportedly raised $7m in cryptocurrency from 3,955 investors from an ICO.

The company was initially looking to raise at least $3.5m for the ICO, which launched 11 May 2017, according to a report by Crowdfund Insider.

ZrCoin is a blockchain option for investing in the production of industrial materials, offering no inflation or any of the typical cryptocurrency volatility.

ZrCoins are purchased and funds are then used to manufacture ZrO2, which is used for products including ceramics, insulation, abrasives, enamels, among others.

The capital will be used to launch two synthetic zirconium production lines, the article said.

Currencies that were accepted for the ICO included Bitcoin, Ethereum, Ethereum Classic, Litecoin, Waves, and Wire transfer.

There was a minimum investment of $5 for the offering.

Copyright © 2017 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.