ICOBox Announces a Shift in Its Business Development Trajectory

The platform is poised to enter a promising new market for Security Token Offerings (STOs) that is just now beginning to evolve.

San Francisco, California, UNITED STATES

Georgetown, Cayman Islands, Oct. 15, 2018 (GLOBE NEWSWIRE) -- ICOBox, the global leader in ICO marketing services, announced its plans to alter its operational strategy in the crypto industry. The platform is poised to enter a promising new market for Security Token Offerings (STOs) that is just now beginning to evolve. ICOBox intends to establish a foothold in the new marketplace, with the view to quickly becoming one of its star players. The company is also getting ready to offer its clients the opportunity to work with a radically new product – the so-called “composite tokens,” which combine the best features of utility and security tokens.

ICOBox emphasizes that this will not have any adverse effect on its relationship with its existing clients and the performance of its obligations to ICOS token holders.

The change in ICOBox's direction is due to two main factors: the legislative developments in numerous countries of the world whose citizenry is particularly interested in crypto products, and the shift in the needs of the crypto markets players. With fewer companies currently conducting their ICOs, utility tokens are becoming less popular, and some projects which originally planned to conduct their ICOs are now setting their sights on STOs. Additionally, some crypto users and market players have lost significant capital through encounters with projects that have failed to realize their full potential, and are now turning less enthusiastic about utility tokens, which carry only limited liability on the part of the startups that issue them. At the same time, the shift in the digital currencies market towards legally regulated securities offerings appears to be of interest to many of the world's large companies.

“As one of the leaders in the ICO market, ICOBox keeps close track of and quickly responds to any important developments in the crypto industry. If ICOBox intends to maintain its dominant position, our new strategy will require us to regroup, restructure our team, and adapt to the demands of the new market. Cutting costs and optimizing work processes to better suit the new development directions is a natural process regularly implemented by many major corporations. Along with the rest of the world economy, the crypto market tends to evolve in cycles, with every bust eventually followed by a boom,” says ICOBox's CEO Andriy Zinchuk.

In the nearest future, ICOBox plans to focus less on ICO services for startups and more on the STO sphere. The company assures its current clients and ICOS token holders that they will not suffer as a result of the new policy.

ICOBox was established in 2017 and in just one year the project made a giant leap, having become the world's #1 ICO service provider.


Contact Data