Proactiveinvestors Australia Zichain https://www.proactiveinvestors.com.au Proactiveinvestors Australia Zichain RSS feed en Sat, 20 Jul 2019 22:34:19 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[Media files - Zichain launches new crypto index funds and set to open new China office ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9822/zichain-launches-new-crypto-index-funds-and-set-to-open-new-china-office-9822.html Wed, 11 Jul 2018 13:58:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9822/zichain-launches-new-crypto-index-funds-and-set-to-open-new-china-office-9822.html <![CDATA[News - Zichain launches cryptocurrency index funds as first part of digital asset management suite ]]> https://www.proactiveinvestors.com.au/companies/news/200493/zichain-launches-cryptocurrency-index-funds-as-first-part-of-digital-asset-management-suite-200493.html Crypto finance company Zichain has launched two cryptocurrency index funds as the first part of a pipeline of products to simplify investment in digital assets.

The Blue Coin Index Fund (BCIF), which is focused on major cryptocurrencies, as well as the Second Tier Index Fund (STIF) are currently only available to a limited group of investors, but the group has plans to sell to a broader market before the end of the third quarter of 2018.

READ: Zichain launches index funds for cryptocurrency investors

The two funds cover over 20 top cryptocurrencies between them and have all the features of traditional funds such as the use of real-time market data, performance calculations to track investments and advanced financial reporting, as well as new features including clustered storage with multiple signatures to guarantee asset safety and automated rebalancing and smart execution systems.

The index funds form part of a four-segment ‘ecosystem’ that makes up the company’s offering. Aside from the index funds the group also offers Zichange, an exchange platform allowing people to purchase digital currency for cash; a blockchain asset management platform (BAMP) which allows users to start and manage cryptocurrency investment funds; and CryptoEYE, a news and market data provider for the cryptocurrency marketplace.

READ: Zichain postpones ICO due to high demand in token pre-sale

It also seems that getting in on the ground floor of the expanding cryptocurrency and blockchain market is paying off for the company, who has postponed its initial coin offering (ICO) due to high demand from institutional investors which saw it surpass its soft cap target of US$3mln in a token pre-sale.

The group said on 29 June that it would suspend the ICO until 16 September after closing its first-round books on 21 June while it undertook due diligence processes of orders, adding that it had received 650 token orders for a total amount of US$5mln as well as more than US$3mln extra following meetings with private investors.

Currently based in Switzerland, Estonia, Russia, and Armenia, Zichain is targeting the financial hub of London as well as the expanding cryptocurrency market in Asia as it presses ahead with developments.

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Tue, 10 Jul 2018 06:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200493/zichain-launches-cryptocurrency-index-funds-as-first-part-of-digital-asset-management-suite-200493.html
<![CDATA[News - Zichain launches index funds for cryptocurrency investors ]]> https://www.proactiveinvestors.com.au/companies/news/200215/zichain-launches-index-funds-for-cryptocurrency-investors-200215.html Zichain has launched two cryptocurrency index funds as the first part of a pipeline of products to simplify investment in digital assets.

The crypto finance group said the Blue Coin Index Fund (BCIF), which is focused on major cryptocurrencies, as well as the Second Tier Index Fund (STIF) had become available to a limited group of investors, with plans to sell to a broader market before the end of the third quarter.

WATCH: Zichain launches new crypto index funds and set to open new China office

Tokens for the two funds have been created using the Ethereum blockchain platform using its ERC 20 technical standard for smart contracts.

The firm added that the two funds, which would cover over 20 top cryptocurrencies between them, had all the features of traditional funds such as the use of real-time market data, performance calculations to track investments and advanced financial reporting, as well as new features including clustered storage with multiple signatures to guarantee asset safety and automated rebalancing and smart execution systems.

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Thu, 05 Jul 2018 14:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200215/zichain-launches-index-funds-for-cryptocurrency-investors-200215.html
<![CDATA[News - Zichain postpones ICO due to high demand in token pre-sale ]]> https://www.proactiveinvestors.com.au/companies/news/199330/zichain-postpones-ico-due-to-high-demand-in-token-pre-sale-199330.html Zichain has postponed its initial coin offering (ICO) due to high demand from institutional investors which saw it surpass its soft cap target of US$3mln in the token pre-sale.

The blockchain asset management group said it would suspend the ICO until September 16 after closing its first round books on June 21 while it undertook due diligence processes of orders.

WATCH: Zichain hoping to bring traditional investors into the crypto market

Zichain said it had received 650 token orders for a total amount of US$5mln as well as more than US$3m extra following meetings with private investors.

The group added that orders received in the second round of pre-sale (from June 21 till August 31) would be placed on a “white list” and processed on a “first come, first served” basis if there are tokens available after the pre-sale.

The firm said the suspension decision had been made after a roadshow in which it secured commitments to participate in the sale from several institutional investors in Asia, Europe and the Commonwealth of Independent States.

Zichain added that it would issue a quarterly report in a few weeks time, which would include a detailed review of each project's progress, the completion status and plans for their further development/launching.

Khachatur Gukasyan, chief executive of Zichain, said: “The pre-sale has shown strong investors’ confidence in Zichain’s asset management solutions which apply traditional and familiar models of traditional finance to the crypto world using cutting-edge technology. The rapid achievement of our soft cap target during pre-sale combined with strong interest from institutional investors gives us an opportunity to set ambitious goals in the future.”

-Adds token numbers and quarterly report information--

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Thu, 21 Jun 2018 13:33:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199330/zichain-postpones-ico-due-to-high-demand-in-token-pre-sale-199330.html
<![CDATA[Media files - Zichain hoping to bring traditional investors into the crypto market ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9384/zichain-hoping-to-bring-traditional-investors-into-the-crypto-market-9384.html Tue, 29 May 2018 09:56:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9384/zichain-hoping-to-bring-traditional-investors-into-the-crypto-market-9384.html