Investor Update from the CEO
Dear Investors and Supporters of ThinkCoin,
It has been a very busy few months for the team, as many of you know we had a short public sale and took the project private primarily as we wanted to focus on raising funds from institutional investors, larger syndicates and family offices. Apart from this we have been actively focused on strategic partnerships for market makers for the token exchange listing, actively speaking to exchanges, working on our testnet due in late October and also actively hiring for our teams across the world and adding new strategic advisors who are key to opening up the business for us.
I hope you enjoy reading my detailed TCO update, as always I will endeavor to complete these as frequent as possible when there are material updates.
So far the team has gone on several other tours to Seoul, Korea, Tokyo Japan, and Hong Kong. The results have been amazing, while there are no guarantees I am hopeful we can oversubscribe theThinkCoin private sale which will do even more things for the project. Apart from this we are in Due Diligence right now with a few key institutional investors who will be taking large allocations inThinkCoin once they are complete.
Everyone was very impressed on the professionalism, detailed whitepaper and background of the project. We would be the first platform in the world to allow digital currencies to be used to trade assets in traditional financial markets. I know everyone is eagerly awaiting the final amounts for the raise and token sale, but we want to wait a few more weeks before disclosing this as it wouldn’t be fair to the funds who have committed allocations but are going through DD.
1) The most important decision for us was custody of assets by a third party in the digital space that met our standards and practices. I am proud to say we have chosen BitGo as the provider. A PR release should be going out soon. You can find out more information on BitGo here.
2) Token Liquidity and Market Making — The most important factor that will help establish liquidity not just for the token, but also key liquidity for BTC, ETH and other cryptos will be liquidity providers for these major coins. We have chosen Cumberling Mining (DRW) and LMAX Digital based out of London as a key market makers and liquidity providers. This will not only ensure ample liquidity for BTC, ETH and other cryptos but also allow you to seamlessly convert to our token.
The test net, back-end settlement system and most importantly development on our order matching logic and systems has been in full steam. Apart from leveraging our strategic partnership with GMEX we have been also modifying our back office settlement and gateway systems to handle fiat to crypto and crypto to fiat. Our Beta is scheduled for October.
On the exchange front we have been very busy. So far we are in early stage approval with 2 exchanges within the top 20 exchanges scored by Coin Market Cap. The list might get expanded or shuffled around later but this is a strong list for us to get started with in our first stage of listing Pre-Production.
In closing I wish to give you my personal thanks for your continued support of the project. I will be in touch soon with further information as we move forward with the ThinkCoin project.
CEO of ThinkCoin