DESICO “attractive” to South Korean startups to thanks to fully legally compliant business model
Following a recent successful business trip to the South Korean capital, Seoul, DESICO CEO and co-founder Laimonas Noreika believes DESICO will attract a significant number of South Korean crowdfunded-startups to its platform. This is thanks to DESICO’s business model of issuing and trading security tokens in full compliance with the law.
Since last year, South Korea has gone crypto crazy. In mid-2017, South Koreans young and old took advantage of a largely unregulated market, making the country one of the top markets for Ethereum trade, and more often than not, drove prices to between 30–40% higher the global average.
As with all financial booms, South Korea’s crypto bubble is now on the point of bursting thanks to increasingly tight legal frameworks by regulators. Since the mid-2017 crypto explosion, statements made by South Korean regulators have added to the volatility of the country’s crypto climate, and increased skepticism around whether ICOs and crypto trading will be fully banned. Further fuel was added to the speculatory fire when regulators raided crypto exchanges to check their ledgers.
Noreika feels that South Korea’s increasingly unstable regulatory climate makes DESICO’s business model of full legal compliance attractive to a significant number of the country’s crowdfunded-funded startups.
“Despite the increasingly tough legal conditions facing crowdfunded-startups in South Korea, the country’s crypto experts are confident that regulators will not go as far as banning crypto trading,” he said. “Nonetheless, our main takeaway from South Korea was that DESICO’s unique legal position of operating on the Crowdfunding Law of the Republic of Lithuania is extremely attractive to a large number of South Korean startups. We look forward to listing a significant number of these businesses on our platform in the immediate future.”
Noreika’s view was compounded by the Jay Juhyung Kim, the Marketing Director of South Korea’s Gangnam Blockchain Accelerator, GBXL.
“DESICO appears to provide a minimized legal risk solution for both ICO-funded startups and investors,” he added. “Thanks to its potential within the Asian market, GBXL is interested in accelerating DESICO for South Korean and on a wider scale, Asian startups. We are interested in looking forward to finding out more about DESICO and exploring further marketing options in the future.”
DESICO’s next business trip abroad will be to the ICO Race competition in Lugano, Switzerland, on June 7th. DESICO will compete with another 19 of the world’s best crowdfunded-startups to be in with a chance of winning a $1m prize, plus the opportunity to be listed on one of the top three global crypto exchanges.
DESICO has also just launched a bounty campaign of 500,000 DESI token for its community members, which will run until June 15. It has also announced an airdrop campaign. Its full details will be revealed soon.