TOKYO, Nov. 1, 2017 /PRNewswire/ -- Telcoin, the company behind a new cryptocurrency seeking to spread financial inclusion across the globe, has attracted investment from three C-level finance executives. Not only have each of them invested personally in Telcoin's pre-ICO, but they are also joining the company as advisors. While the tech industry awaits new information on regulatory changes with bated breath, these high-profile individuals uniting with Telcoin - professionally and personally - is challenging the misconception that the banking industry is universally anti-cryptocurrency.
"Telcoin is the revolution fintech has been dreaming of, a global cryptocurrency that is accessible through a convenient and trusted network," said Michimasa Naka, the first of Telcoin's new advisors. Naka brings more than two decades of combined experience in the banking and investment sector, including as CEO of Citigroup Global Markets, Japan. He also brings valuable telecom experience, as he led the financing of Vodafone Japan. Naka also served as Managing Principal at StormHarbour, an independent global markets and financial advisory firm; and is currently CEO of Boardwalk Capital, a venture capital fund that supports startups in Asia with advisory, incubation, and investment services.
Matthew E. McGuire is another key player joining the Telcoin advisory team. A former COO at both Merill Lynch and the Royal Bank of Scotland, he joins the team at a pivotal moment as Telcoin explores collaboration opportunities with several major telecom groups. With over 20 years experience regarding financial regulation in global banking and markets, Mr. McGuire is adept at building strong relationships with regulatory bodies like the SEC, FSA, MAS, and ESMA. Drawing on Mr. McGuire's regulatory experience will be indispensable, especially as Telcoin already has cooperation agreements with telecom groups in more than 50 countries where the next step is obtaining regulatory approval. Mr. McGuire has already harnessed his skills in his advisory role, managing Telcoin's legal and consulting engagements to meet ICO regulatory compliance in Japan, Singapore and the US.
"As the world of fintech grows and evolves, it is essential for the financial sector to embrace and engage with the right companies, like Telcoin," Mr. McGuire said. "We need to create a safe and secure environment where financial integrity can be assured to the user and investor community. We are seeing early positive signs of that, and I am looking forward to being a part of more progress in this new frontier of finance."
His breadth of experience is undoubtedly a strategic asset to Telcoin, particularly in navigating the complexities of the current fintech regulatory environment as the company moves toward its ICO on December 1st.
Eric Chung also brings a niche skillset to the advisory team, straddling the space between the gaming and banking spheres. Formerly Senior Vice President at Barclays, Mr. Chung launched the firm's equities business in Japan. He also is a expert in the tech and gaming industry as a Senior Vice President at DeNA; a specialist in the development and implementation of virtual currency. Mr. Chung's understanding of these fields will be instrumental in the diversification of Telcoin's use cases, strategically bringing the token to new markets.
Given the complexity of the current relationship between the banking and fintech sectors, Telcoin is standing strong. While regulatory uncertainty will be a challenge in many markets that Telcoin is targeting, these new advisors will equip the company with robust advice and guidance. This is essential at this pre-ICO stage, as Telcoin establishes further partnerships with telecom operators. This will provide the foundation for Telcoin to be shaped in a way that is fit to be responsive to global banking and regulatory structures; while also supporting the company to withstand any challenges they may face. The appointment of these three new advisors sends an important message - that there is certainly enthusiasm for cryptocurrency in the banking and regulatory sectors.
About Telcoin Pte Ltd:
Telcoin Pte Ltd is based in Singapore, with a diverse team operating out of Tokyo, Japan.
The company's eponymous cryptocurrency, Telcoin, is based on the popular Ethereum blockchain. It will be issued to national telecom operators and sold to subscribers, allowing it to be used by anyone - with or without a bank account.
Telcoin's inception comes from the glaring disparity between access to financial services versus access to telecom services. According to the World Bank1, only 1.2 billion people have access to a bank account with payment capabilities. On the other hand, GSMA data indicates that there are approximately 5 billion unique mobile phone subscribers - a figure that is growing steadily. By partnering with Telcoin, mobile operators will have the opportunity to open the floodgates of financial inclusion to unbanked and underbanked customers worldwide.
Telcoin will be as easy to access and spend as existing mobile money, and it will be protected by a net of telecom security and compliance. The team envisions it as a complement to existing mobile money and, in the near future, a mainstream driver of cryptocurrency adoption at large.
The Telcoin team comes from a wide range of backgrounds, including telecommunications, IT security, anti-fraud, corporate marketing, mass media, and finance.
Join the conversation on Telegram at t.me/telcoincommunity and follow Telcoin on Twitter @Telcoin_Team
SOURCE Telcoin Pte. Ltd.