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Swiss blockchain firm Lykke announces ICO

Swiss-based fintech firm Lykke that uses blockchain technology to build a global marketplace, announced on Tuesday the start of ICO campaign in a mission to build the future of markets.

According to the official announcement, the crowdsale offers 30 million Lykke coins at 0.05 Swiss Franc per coin and the company plans to raise 1.5 million Swiss Francs. These coins represent the ownership of Lykke which is an exchange for trading financial instruments using blockchain technology.

“Lykke is looking for investors who want to change the face of the global market. Our goal is to upset the inefficiency and unfairness of the existing financial system, giving people a better way to manage their money and their assets,” Richard Olsen, founder of Lykke.

The company has sold over 2.2 million coins so far and has raised 114 thousand Swiss Francs at the time of writing. The crowdsale will last till October 10, 2016, for four weeks. Lykke coins can be bought by anyone over the age of 18 except U.S. citizens. Coins can be bought using the Lykke Wallet application on iOS or Android mobiles. The coins can be bought with bitcoin, Ether, Swiss Francs or US Dollars.

“Using the Lykke Wallet, any kind of financial instrument can be traded and settled peer-to-peer, with second-by-second interest payments. We want to give our customers and those who believe in our vision a chance to participate in owning part of the company,” Olsen added.

After the end of the crowdsale, the price of Lykke coins will depend on the market demand. In order to buy back coins and support the price, 10% of capital will be held in reserve. The company earlier in 2015, received seed funding.

“Lykke is the beginning of a giant movement that will trigger a lot of very important changes in the financial industry,” Philipp Netzer, an investor in the company said during 2015 seen funding.

By Sujha Sundararanjan
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