- Proceeds to support WhatsHalal’s overseas expansion plans, and continue building up its infrastructure capabilities
SINGAPORE, 16 May 2019 — Tokenize Exchange, a platform that enables users to buy and sell established and emerging digital currencies, today announced that they have successfully completed their first IEO, raising US$2.8 million for WhatsHalal, which aims to be the definitive guide and provider of unquestionably Halal Thoyiban food to the Muslim community, and to create a Halal ecosystem on the blockchain that benefits both the merchant to consumers, locally and internationally.
The IEO, which lasted approximately three months, from 7 February 2019, to 15 May 2019, saw Tokenize Xchange listing the WhatsHalal token (WHT) for sale on its Xpress platform, which helps blockchain projects to launch their IEOs, and for the users to participate in IEO events organized by such projects.
The IEO at completion, saw the sale of 31 million WHT tokens, of which the first tranche of 10 million tokens were sold at US$0.08, the second tranche of 10 million tokens sold at US$0.09, and the last tranche of 11 million tokens sold at US$0.1.
Singaporean start-up WhatsHalal, which aims to benefit both F&B manufacturers and consumers in terms of market entry and food safety using its blockchain-powered platform, plans to use 40% of the proceeds from the IEO to support its overseas expansion plans, another 40% to continue building up its infrastructure capabilities, and the remaining 20% for its marketing efforts.
WhatsHalal, which currently has a presence in Singapore, Malaysia, Indonesia and Australia, aims to expand its presence to a total of 15 countries this year, with Vietnam, Hong Kong, Taiwan, Japan and New Zealand among some of the targeted countries.
“We see great potential with many start-ups in the region and continue to see a growing number of quality ideas come to market, but many still have issues financing their projects. Tokenize Xchange aims to fill this gap with our IEO platform, which has proven to be successful as seen with the WhatsHalal listing.
The Xpress platform not only raises funds for startups, but also provides a ready, active user base for which startups can gain access to and ease their way into a new marketplace,” said Hong Qi Yu, CEO of Tokenize Xchange.
Tokenize Xchange will also start its second IEO project for Opiria on 18 May 2019. Opiria is a global decentralized marketplace powered by blockchain that helps companies with collecting and analyzing consumer data and enables them to make better business decisions. Since its launch in 2015, the Opiria product has been used by hundreds of customers globally, including many Fortune500 companies such as BMW, Audi, Mercedes, Volkswagen, GM, Nissan, P&G and Intel.
The Opiria IEO is set to run for approximately 1 month, ending on 23 June 2019, and will look to raise US$1 million for the startup. For more details on the Opiria IEO, please visit https://tokenize.exchange/ieo/PDATA for more information.
ABOUT Tokenize Xchange
Tokenize Exchange is a platform that enables users to buy and sell established and emerging digital currencies. Tokenize Xchange employs top-tier providers and implements the best practices for wallet management and identity verification to ensure the security and robustness of its platform and provide its more than 100,000 clients with a peace of mind when trading on the platform every day.