UAE Royals Acquire 15% Stake In Cryptocurrency Tracker, Crypto Price Index
The Emirati royals have acquired 15% of the Crypto Price Index (CPI) project, a new innovative way to easily track the top 200 cryptocurrencies by market capitalization.
Similar to the Dow Jones Industrial Average, the CPI Index, alongside its native token the CPI Coin, provides an insight into the trading history of the leading blockchain projects. The founders say the CPI project will democratise access to crypto assets by allowing non-technical users to acquire exposure to the broader crypto asset market.
Herbert Law, CEO of Crypto Price Index, welcomed his Highness Sheikh Abdullah Bin Rashed Al Sharqi as well as His Excellency Khalfan Saeed Khalfan Al Mazrouei to the board, and issued the following statement:
“I feel what we have is amazing event which has happened by forming this partnership with the Royal Family. Our CPI project now has one of the more powerful platforms ever we created in the crypto industry.”
“The CPI project has appointed ICO Launch Malta as technical partners, with the CPI platform being built on the ICO Launch Malta DeFi Product Stack. By building upon this proven and heavily audited technology layer, CPI offers its users full transparency and auditability of their holdings.”
Jan Sammut CEO of ICO Launch Malta added:
“We are thrilled to be part of the CPI project, who’s ethos is congruent with our objective to democratize the financial industry by disintermediating it to a purely trustless P2P market.”
CPI has selected ZBX as exchange partner for their upcoming launch, which is scheduled for the end of year. Dave Pulis, CEO of ZBX commented:
“The Crypto Price Index is a much-needed vehicle that will enhance our product offering for both institutional and retail investors worldwide”.
CPI’s broad distribution across multiple crypto-assets is one of the first solutions that will allow investors to assess the cryptocurrency markets by calling an API or reading the CPI blockchain instead of individually scrutinizing the entire market manually.
Originally published at Blockchain News.