Panaesha Capital, a leading Singapore based
fintech startup, today announced the launch of its first initial
coin offering (ICO) 'Feelium' a one of its kind digital currency
which can be stored, used and traded through an integrated wallet
and exchange services.
Sandeep Phogat, CEO and Founder, Panaesha Capital Pte. Ltd. said,
in a release that despite tremendous progress in economic
globalization, the global
financial system is still very fragmented. Blockchain technology has
tremendous potential to consolidate and, perhaps, even standardize
financial markets all over the world. While some ventures are
raising capital through an ICO, we have already invested a fair
amount of seed capital in building our own technology, human capital
and marketing outreach. The launch of Feelium will enable operators
to solve the biggest problems such as speed, trust, and cost. Our
goal is to build a platform known for simplicity, security,
cost-effectiveness, speed, a stable means of payment and exchange.
''The cryptocurrency market is predicted to grow by 65 percent by
2020, and Feelium aims to capitalize on this growth by integrating
real-world business with a secure blockchain platform. Feelium can
be accessed across the world and will revolutionize world economy
allowing fast, cross-border trade and business to occur.
The blockchain start-up business sector is booming and will
streamline the way businesses and individuals operate. Our pre ICO
capital will be deployed for growth and further development of our
product for usage for mass markets. Private investors can
participate in the pre ICO rush by directly contacting us.'' said,
Ravi Kikan, Chief Operating Officer, Panaesha Capital Pte Ltd.
Feelium will allow any user to leverage their own asset by
them to trade and benefit from the launch of Feelium coins. The ICO
will launch from Singapore and be available globally. This
centralised blockchain platform creates a new sphere of trading that
captures the balance between completely unregulated ICO markets and
highly regulated traditional securities markets. With this
centralised system, Feelium Tokens will be issued from a central
agency, only after KYC/AML procedures are completed by the user.
This would allow the government to regulate an ICO in case of fraud.
Currently, Panaesha Capital Pte. Ltd has abided to all current
regulations and will continue to do so in the event that more
regulations are introduced. They are also backed by a legal advisory
to ensure that all legalities are followed., release added.
At the end of its pre-sale offering, it aims to raise 21 million
USD. The public sale is expected to begin on March 21 at 0000 hours
and will continue for two months, a release said
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