Lykke, a Swiss fintech company building a global blockchain-powered marketplace, concluded its initial coin offering (ICO) at midnight, October 11th, with the sale of 23,226,753 coins, raising 1,161,338 CHF. The sale lasted a month, during which over 1,200 new people downloaded Lykke wallets and registered with the service and the number of Lykke coin holders jumped from 147 to 717.
“We are thrilled to welcome almost 500 new shareholders from 90 countries, who have invested a total of 1,161,338 CHF during our online sale,” said Lykke founder Richard Olsen. “Thank you to the many new stakeholders, who are helping us build our global marketplace.”
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With this money, the company says it will continue to apply for broker and trading facility licenses in Europe, Asia and North America, and continue to build out its open-source trading platform for all to use. The platform now offers trading of Bitcoin, Swiss francs, dollars, euros, pounds, yen, and Lykke coins. Many other digital currencies, indices, community coins and crypto-equities are planned for the future. Lykke’s goal is to be the lowest-cost marketplace for trading all digital assets, using blockchain settlement for speed and security.
Lykke coins were priced at 0.05 CHF. As the company’s coins are now publicly traded, the market will set the price for the coins. Lykke has reserved ten percent of the money raised to provide liquidity. The company implements a first-of-its-kind agent-based algorithm for setting prices, offering liquidity to sellers, and reducing volatility.