New Zone to Opt for ICO Instead of an IPO in Singapore
New Zone Intertrade FZE has announced its plans to raise funds through Initial Coin Offering (ICO) to create a blockchain based Trading Platform for commodities
SHARJAH, United Arab Eremites, Oct. 11, 2018 /PRNewswire/ -- This decision of going the ICO way has garnered various responses from both Crypto and Non-Crypto spheres. Stepping back from their original plan of going public a year back, to marching forward and taking an offbeat resolution of crowdfunding through cryptos, New Zone has set tongues wagging in the ferrous trading circles.
What does New Zone do?
The Multi-Billion dollar turnover company specializes in ferrous and non-ferrous metal trading in different forms. In the ferrous industry, New Zone holds a special spot among the top traders of Galvanized Steel and Hard Steel Sheet Coils. As for non-ferrous metals, Nickel Cathodes and Zinc Ingots are the primary products. New Zone has two subsidiaries, New Alloys Trading Pte Ltd. in Singapore and Mine Craft Limited in Hong Kong. The subsidiaries mentioned above execute holistic operational needs for New Zone.
We will not be limiting ourselves with Hard commodities; this digitalization will help us reach more people with Agricultural and Energy based commodities. There are no substantial usage of Cryptocurrency and Blockchain technology in the much-needed agricultural industry.
With a trading volume of about $2 Billion, and clients like Trafigura and Glencore Xstrata, New Zone team seems like a strong enough force to raise a massive $1.5 Billion, the proposed Hard cap in the ICO. Although, the team understands the different challenges associated with other crucial details like the integration of ETF's, and the different aspects of white label offering, New Zone is ready to get the best solutions for every challenge. New Zone will be releasing New Zone Iron to New Zone Oil tokens, ensuring that the white label process is carried out with relative ease by companies of other countries.
A big step will be the incorporation of ETF's using New Zone tokens for our retail investors. The whole process is a little tricky, but we are up for it- Leadership Team New Zone. One noteworthy feature that the company focuses on is the availability of the white label franchise, which the company says will be started once the project completes its second phase.
"We wish to bridge the gap between commodities and Cryptocurrencies, which is why we are bringing New Zone Tokens," added the leadership team at New Zone. It goes without saying this is a crucial ICO to look out for; New Zone brings something unique to the whole ICO fad. The company also claims to be the world's first crypto friendly commodity trading platform.
Telegram - https://t.me/Newzone
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SOURCE New Zone
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