With the Spotcoin ICO launch firmly underway since Monday afternoon, the company is riding a wave of support from its community and other NEO projects following its surprise announcement a day earlier that it hit its soft cap of $5 million USD. Based in Tbilisi, Georgia, the company said it is excited to accomplish that milestone in the cryptocurrency bear market.
Spotcoin CEO Tim Gick describes the success as “having the right product for the right time.”
Spotcoin says that token buyers took part in the private placement sales and pre-ICO round to scoop up SPOT tokens using a combination of fiat and digital currency. The company adds it has its eyes firmly set on the horizon even as the ICO continues into Saturday.
“Now our primary emphasis is getting the exchange online as soon as possible. We want that access for everyone. Plus, our investors will enjoy the bonus of dividends,”? says Byron Yoshida, Spotcoin’s ICO Program Manager. “We know there is a need for fiat and digital currency solutions. Liquidity is key and that’s what we do here at Spotcoin,” he notes.
“We are ready for the next challenge. That’s where we thrive. When you fill a need, people show up,” Gick states. “It’s a bear market. Not an ideal time to launch an ICO. And that was always a risk. But we knew there was a need for simple liquidity, ease of access, and reaching the Black Sea Region of 300 million people.”
The Spotcoin ICO started on October 22nd at 18:00 (UTC+4) and will conclude on October 27, 18:00 (UTC+4), unless available tokens sell out before the scheduled closing.
”To us, reaching this milestone validates our mission and lets us know we’ve won the confidence of our investors, our whole community, even in the bear market,” Gick concludes.
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