Port Vila: Pacific OTC, the Vanuatu based Over the Counter Market, announces the creation of the world’s first “Cryp Board.” The Cryp Board is limited to issuers who quote, offer and settle shares, funds, or offerings solely in cryptocurrencies such as Bitcoin and Ethereum.
The Cryp Board will host Initial Coin Offerings or ICOs, the cryptocurrency version of Initial Public Offerings as well as block chain related companies such as fintech companies, casinos, Bitcoin advertising and publishing firms, cryptocurrency funds and mining ventures. The initial two listings on the Crypt Board are: E-Repository, a blockchain based asset protection company and Mt. Gox claims which roughly tracks Bitcoin prices.
The Cryp Board is also open to any conventional company worldwide who is willing to quote and settle it shares solely in cryptocurrencies. The POTC has also loosened its listing requirements and has low listing fees for the Cryp Board. For example, to apply and list a company or fund for one year costs only 1 Bitcoin. Annual dues thereafter are set at 50% the normal Entry Board rate. Further benefits include streamlined and confidential settlement via cryptocurrency accounts and ability to delivers shares and units directly to the purchaser while maintaining a public quote.
Pacific OTC Hugo Santos is delighted at the Cryp Board development: “We at POTC have watched Bitcoin surge 300% since January 1, 2017 (when the POTC opened for business) and Ethereum has gone up an incredible 3000%. Companies and their shareholders benefit from associating themselves with this sort of success and growth and blockchain based companies need a way to lock in and leverage their market capitalization gains. Today a Bitcoin mine is a far more valuable commodity than gold or oil; casinos dealing with only cryptocurrencies prosper, and related industries like ad faucets, wallets, and super high yielding crypto funds are looking for a way to achieve public valuation and lock in their performance based gains. The Cryp Board is the answer.”
The Cryp Board is a fast paced, super high growth alternative that bypasses the need for dematerialization of shares, brokers, or registrars while providing the advantage of a public quote and valuation. The POTC of course will continue to provide traditional OTC services and envisions that with success many of the Cryp Board issuers will also seek dual listings on the POTC’s Main and Entry Boards that deal in securitized shares and “old fashioned” cash.