Tokia, a crypto currency exchange platform, is conducting an initial coin offering (ICO) to fund its development. According to the white paper, Tokia “aims to make Bitcoin payments direct and easy for everyone, everywhere.” The project is a crypto currency exchange platform which would allow users to convert their crypto assets into major fiat currencies. This piece is an analysis of the facts available about the Tokia ICO sale. It should not be read as offering any advice or a recommendation. ICOs may have quickly become a popular tool for funding new projects but the ICO is high-risk for token purchasers. ICOs currently have an unclear legal and financial status. Additionally, token buyers may find that their purchase does not offer them any security or equity in the start-up or project because the ICO is more like a crowdfunding initiative than a traditional IPO. As such, any investor who plans to buy tokens during any ICO needs to obtain all relevant independent advice and carry out their own appropriate due diligence.
Project overviewTokia plans to offer users crypto currency services including:
- an online crypto currency exchange platform, a mobile app based wallet and exchange platform, a debit card that allows users to make purchases using crypto currency and cold storage facilities