Malaysia-based HelloGold is looking to raise $9.6m in its ICO, which will help the company achieve its global financial inclusion aim.
So far, the company has collected 7,500 ETH from strategic supporters and 5683 ETH from the public sale. The token sale has a fixed rate of $304.05 per Ether, which was based on the Coinmarketcap valuation on August 18th.
Founded in 2015, the company is a Shariah compliant gold digital platform which aims to give everyone access to physical gold products. Through the platform, which is free to register for, users can buy 99.9 per cent investment grade gold from a minimum price of RM 1.
The gold that is purchased is insured and kept in a vault in Singapore, with the user able to either have the gold stored by HelloGold, delivered to them or sold back to HelloGold. With each buy or sell transaction HelloGold receives a 2 per cent fee and an additional 2 per cent to store the gold.
Through the ICO, buys will acquire HelloGold Tokens, which give the holder access to a potential stream of Gold Backed Tokens, which are used to distribute 10 per cent of HelloGold’s management fee revenue.
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