Jibrel Network has reportedly raised $30m in its ICO, following the sale of 200 million JNT tokens.
This token sale accepted bitcoin and Ethereum and closed a month early, according to a report by Crowdfund Insider. A token cost $0.25, with a minimum purchase of 200 JNT tokens, and a maximum spend of $850,000.
The company provides currencies, equities, commodities and financial assets as standard ERC-20 tokens on the Ethereum blockchain. The company offers a CryDRs, a cryptoDepository receipt, which represents a traditional asset value and can also be bought with JNT tokens. These can then be used to make remittances, global payments, trading and hedging.
Jibrel uses smart regulation to ensure that all transactions are regulated in each country.
The company also offers a crypto wallet, which allows users to access their tokens anywhere and can store any digital token. Through the solution, token holders can keep track of all their transaction history and other banking details.
A quarter of the proceeds from the sale will be used to help with building the network, while 75 per cent of the capital will go to mint the first batch of crypto-fiat tokens, JCash.
Following the close of the ICO, Jibrel’s next goal is the launch of a dedicated CryDR block explorer, which helps keep better track of CryDRs. In the third quarter of the year, Jibrel is looking to release an institutional-grade banking solution to directly tokenise and transact.
There have already been several high-value ICOs this year, with this week also seeing blockchain technology developer Mobius closing its pre-ICO on $30m.
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