A latest ICO review highlights that Asia has come up as a global leader pertaining to Initial Coin Offerings. In places like Hong Kong and Singapore, the numbers of organizations that are coming up with such offerings have rocketed sky-high.
The Managing Partner of Africa Cauton & Saavedra, a law firm based in the Philippines, Mark Gorriceta says that a key reason for the immense popularity of such offerings is start-ups have gained prompt access to funding. Notwithstanding the emerging regulatory issues, launching an Initial Coin Offering is an accessible and viable alternative today to raise capitals.
Contrary to this, launching an IPO is much tougher due to its innumerable requirements and voluminous paperwork ranging from setting up the business of a company to creating a reliable financial track record apart from achieving substantial capital requirements, Gorriceta added.
Funds via ICOs can be secured very easily as compared to procuring a loan. The latter is another traditional technique to secure funding. Gorriceta adds that to be very frank, loans can be too impractical at times and at times can be restrictive for the start-up businesses that are set up by coming together of some “technopreneurs” whose total assets may not meet the typical collateral requirements of a bank, Asian Legal Business reported.
ICO Review: Singapore, Asia’s New Crypto Hub
Historically, Singapore has always been a major financial hub among the Southeast Asian nations. However, how it has slowly emerged as Asia’s new crypto hub. As compared to the rest of the globe as well as the remaining parts of Asia, the Singaporean regulators are more transparent and well-informed about their opinions on cryptocurrency and Blockchain.
The latest ICO review on Singapore establishes that the crypto trading volume, as well as, the supply of the various crypto projects are quite strong with abundant demand for the same. Following the ICO ban by China in late 2017, the country has evolved as the home to several financial institutions, which can function as potential investors for Initial Coin Offerings, TechCrunch wrote.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]