Iconiq Lab, connected to the GBX Sponsor Firm Iconiq Holding, has been admitted to launch their token, ICNQ, as part of their expanding ecosystem on the GBX GRID.
About Iconiq Holding
The team at Iconiq combines extensive financial markets experience with expertise in the blockchain space. The group launched a digital asset management arm in 2018, of which the ICNQ utility token will interact along with its existing membership functionalities used by Iconiq Lab, the world’s first decentralised VC club.
Iconiq Holdings aims to leverage their knowledge base to bridge the gap between traditional finance and the emerging blockchain industry, promoting further credibility and mass adoption for the crypto-space by encouraging traditional investors to participate. They are accomplishing this by launching a series of enterprise-grade digital asset index funds, initially for professional investors, and scaling into the retail space with planned ETFs and ETNs in 2019.
ICNQ Token
Iconiq intends to sell up to 10 million previously reserved ICNQ tokens, of which a portion will be designated for a public sale on the GBX GRID in October 2018. The ICNQ token will then apply to be listed on the digital asset exchange, the GBX-DAX, after the sale. As an ERC-20 token, ICNQ will be used as a voucher instrument for payments within the Iconiq ecosystem as well as a membership instrument.
Patrick Lowry, Iconiq Holding CEO, stated:
“We have successfully positioned the ICNQ token as the token for digital asset management. ICNQ tokens can now be redeemed in our ecosystem for products and services provided by Iconiq Holding companies, including by our digital asset index funds to pay asset management fees to the fund manager, Iconiq Funds. We are excited to add this new value-driver to the ICNQ economy, and even more so to bring this opportunity to the community of our longtime partner, GBX.”
The GBX GRID
The GBX GRID is the perfect platform for innovative start-up projects to launch their tokens and develop their businesses, but the GRID also provides services for established companies. Firms like Iconiq Holdings are utilising the large pool of AML/KYC-cleared GRID users to enhance their existing business model with further token issuance. The GBX GRID provides more pathways for projects that are either at the beginning of their journey or are long-standing businesses. Through best practices and good governance, more companies are looking at the GBX GRID platform as the institutional-grade option for their business needs.
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