Hcash Tech Expects to Spend $15M to Find ASX Listed Companies Interested in Developing Blockchain Business
Australia is an accelerator for technology startup companies, with world-class research institutions and infrastructure, friendly regulation, government acceptance, and ample bright minds actively creating startups within the tech space. However, company’s journey to reaching its goals is riddled with challenges. Sometimes, these challenges can be the deciding factor in the ultimate outcome of a company’s longevity and success. Unfortunately, there are times when good ideas don’t meet their full potential in a free market due to somewhat external forces such as a lack of funding.
Hcash Tech has decided to work closely with First Growth Funds (FGF), an experienced Autralian investment and brokerage company, to invest in the most innovative technology companies on the Australian Securities exchange. The total sum of the investments will reach up to $15M, and will consist of Hcash cryptocurrency tokens. FGF will structure the investments similarly to a previous joint venture with Penta Global, in a manner that is structured to mitigate the risk of token price volatility. It will use an escrow provision for shares and digital currency, to ensure the sole issuance of shares to Hcash Tech at the time of conversion of Hcash tokens to Australian dollars.
Hcash believes that giving innovative companies the investment they need is an important part of being at the forefront of the technology sector, and if done more often, would propel the industry in Australia forward more than ever. We want all kinds of projects to have the chance to fulfil their vision, and we are proud to be given this opportunity.
Hcash Tech’s co-founder Ryan Xu stated:
“Hcash Tech is pleased to provide funding and also to assist listed companies
leverage blockchain technology to increase their competitive advantage, reduce operating cost and secure more customers.”
About Hcash Tech
Hcash Tech Pty. Ltd. is an australian technology company which provides technology consulting services, provided technical assistance in developing the parallel dual-chain & dual token ecosystem to, and is an investor in Blockchain giant, HCASH. They have been working closely with HCASH for development, and will continue to do so in the future.