Hong Kong-based cryptocurrency exchange Gatecoin.com has announced that it will be supporting ICONOMI, an Ethereum based fund management platform, with the upcoming listing of ICONOMI’s token (ICN) for trading on its exchange, tomorrow, Wednesday, October 26th, 2016.

Built and managed by the team behind Cashila, a bitcoin payment and bitcoin-to-euro conversion service, ICONOMI is an investment fund management platform for the decentralized economy, based on top of the Ethereum blockchain. It raised over USD 10.6 million equivalent in fiat and cryptocurrencies during its Initial Coin Offering (ICO) which ended on Sep 29, 2016, marking the 11th largest crowd sale in history. 

“We’ve known the ICONOMI team since their time focusing on Cashila and had a lot of respect for the service, so we were very interested to get involved with their next project. Unfortunately, we weren’t able to support the ICO in time, but we are very happy to be listing ICN tokens as we see tremendous potential for the platform”, Gatecoin founder and CEO Aurélien Menant said. “It’s not just the future of cryptocurrency investing, it is the future of fund management in general. When all financial assets are listed on one or several blockchains, ICONOMI will be best positioned as the industry leader with the most foresight. Today, ICONOMI is the easiest way for any investor to get access to the booming cryptocurrency and blockchain assets market.”

In the first stage of ICONOMI, users will be able to invest in several types of passive and active funds managed by the ICONOMI team, including the ICONOMI.INDEX fund (passive) and the ICONOMI.PERFORMANCE fund (active). In the second stage, future-thinking fund managers will be able to use the platform to create their own managed portfolios of blockchain based digital assets which can then be invested in by other platform users across the world.

ICN tokens are auto-dividend rewarding shares in ICONOMI, which will be distributed through smart contracts to ICN token holders on a weekly basis in the form of ETH, based on all ICONOMI revenue streams, including management and/or performance fees from funds managed by ICONOMI or its users. ICN token holders will also be able to vote on important ICONOMI decisions, such as who the service operator should be. 

“ICONOMI demonstrates the continued emergence of transformative applications being built on Ethereum that stand to overthrow the centralized mechanics of established sectors, and none are riper for change than the overly rapacious fund management industry. We hope that by listing ICN tokens we can support the growing participation in and development of the ICONOMI platform, especially among investors based in Greater China”, Gatecoin Head of Marketing, Thomas Glucksmann said.

Trading of ICN tokens with bitcoin (BTC) are now open to verified Gatecoin users, who can also exchange bitcoin for ether (ETH) and the Ethereum based tokens of SingularDTV (SNGLS), FirstBlood (1ST), DigixDAO (DGD), Augur (REP) in addition to major fiat currencies such as USD, EUR and HKD. 

“We will continue to list the tokens of such promising Ethereum based projects and facilitate user-friendly, public participation in upcoming ICOs”, Menant said.