First Crypto Initial Public Offering of the World Launched by Epoch Partners Limited
First Initial Public Offering of the World Launched by Epoch Partners Limited
The financial industry is becoming more and more welcoming to cryptocurrency as regulations are established around the world. Most of these integrations involve trading pairs and even organizing platforms to have the option of fiat or crypto trading. However, Epoch Partners Limited decided that it is time to make history by launching a sale that is the first of its kind – an initial public offering of cryptocurrency and digital assets. The funding project will be based out of Japan.
In a statement from Epoch Partners, the company said that the move is based on the way that cryptocurrencies are increasing in popularity. The Japanese Financial Service’s EDINET has already received the Securities Registration Statement to launch their sale, which happened on September 28th, 2018.
Investors are now able to subscribe, though the IPO is planned for being capped at 100 billion Yen, which is about $900 million. There will be investments in funds, but it will also include other types of investments that could involve cryptocurrencies, initial coin offerings, and other types of funding that aim to promote a solid return.
This particular fund is being advertised by Teneo Partners, which plans to sell the fund with other securities firms in the area. A partner of Epoch Partners, James Skinner, spoke on the IPO, saying,
“Japan has been a leader in the cryptocurrency and digital asset space. They were the first market to create a proper regulatory framework for cryptocurrencies, and as such can be seen as the world pioneer in this area.”
Skinner went on, adding,
“We were very keen to undertake the world’s first public offering of a cryptocurrency fund in Japan and look forward to great things ahead. The asset class is still young, but the movement to more institutional players like Goldman Sachs and Nomura entering the space shows the great potential of this area. In the future, digital assets are likely to become an integrated part of investment portfolios, similar to equities and fixed income products today, albeit on a smaller scale.”
The cryptocurrency industry has come with many announcements during the year, from CBOE’s decision to trade Bitcoin futures, to the announcement that MUFG is creating its own digital asset, and more. However, this IPO is another sign that the crypto industry is evolving into something more mainstream. In fact, based on a recent report from Crypto Fund Research, it seems that 1 out of every 5 hedge funds launched this year are specific to cryptocurrency.
Stanley Howard, the CEO with Teneo Partners, added,
“As a fully licensed Japanese securities company that specializes in offering offshore alternative funds to Japanese investors, we are delighted to be working with Epoch Partners. The ability to offer a truly unique diversified digital asset fund to our distribution and investor networks allows us to more fully address the increasingly diverse investment needs of our clientele and to differentiate ourselves from our competitors within the Japanese securities industry.”