Bithumb the biggest cryptocurrency trading platform will be launching their own ICO called Bithumb Coin by the end of 2018! The company is already worth billions of dollars and this ICO could be record-breaking. They are looking to follow in the footsteps of Binance and Huobi who have already released tokens to be used for trading cryptocurrencies and paying transaction fees.
Bithumb Coin could be used to lower transaction fees for users. The company could use the money raised by the ICO to help with the operational costs at Bithumb. This is all speculation. No one really knows how these tokens will be used. What we do know is that there will not be a public ICO. Instead Bithumb will have a private sale focusing institutional investors and large investment firms. Therefore those investors that would like to invest in Bithumb Coin would need to partner up with one of these big investment firms or institutional investors.
ICOs Coming Back to Korea?
Recently the South Korean Financial Services Commission (FSC) stated that they might bring back ICOs to Korea if the tax policies get worked out by then. However, big companies like Kakao are looking to countries like Switzerland to do their ICOs. As more and more big companies leave Korea to start their ICOs the pressure will be on the Korean government to counter this trend.
The rumor is that ICOs will be coming back to Korea soon. However, no one really knows how soon. Is it possible Bithumb is looking to do an ICO in Korea once the bans are lifted? Do they know something we don’t know? This could be a BIG clue that ICOs will be back in Korea before the end of the year.