Cryptocurrencies

The first French regulated ICO reaches 115% of its objectives – Cryptocurrencies

The fundraising of French ICO, whose history will remember that it was the first operation of this type regulated in France, has just ended successfully. The project has finally collected 115% of its soft cap in ETH, which allows the team to start tackling the serious things: the establishment of an operational platform ready to host future crypto-fundraising for the benefit of companies wishing to benefit from the power and innovations offered by the process. Contributors will be able to start recovering the tokens acquired during the operation.

French ICO, Crypto-Cocorico

You probably remember, we talked about it during one of the last episodes of “Adopt a Crypto Project”: French ICO is the first fundraising initiative via a funding systemInitial Coin Offering fully compliant with the new French regulation, itself directly resulting from the recent PACTE Law.

Concretely, French ICO has chosen to engage in the process of obtaining the VISA optional issued by the AMF (Financial Market Authority), thereby accepting to comply with a course of administrative, financial and regulatory obstacles that only an accountant from Bercy is able to really appreciate.

It will be recalled that this optional VISA is above all a vector of constraints for the candidate for obtaining it since it includes many conditions to be met before the triggering of any green light from the financial gendarme. We will mention in particular the obligation to repay investors’ funds if fundraising fails (seems obvious? Remember 2017 …) and the sequestration said funds, followed by monitoring and audit of their further use by the reporting company. In short, a pleasure. Anyway, after the effort, the comfort: closed on June 1, the ICO of French ICO helped lift 115% of its soft cap, or almost 175 ETH (123,047 euros).

And now ?

The press release reporting on the operation’s success also provides an opportunity to outline the future. In the end, it’s a total of 756 933 FICO to be issued (including 106,747 to supply the company’s reserves).

French ICO0 ICO results

It will be recalled that French ICO will set up a consulting and coaching platform for the benefit of companies wishing to organize future crypto fundraisers. In this context, the FICO utility token will give access to reductions and benefits to the underwriting candidates. Note that the token will also be accompanied by an incentive model, via the redistribution of part of the profits of the company to its holders.

In addition, French investors will now have an ergonomic and secure platform to simply invest in future operations carried by French ICO.

Tags

Related Articles

Back to top button
Close
Close