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Why Investors Shouldn’t Miss Genie ICO



Genie ICO

According to the second largest professional services firm PwC, citing Morgan Stanley, there are currently more than 200 lenders in the US that provide their services online. The volume of this marketplace at the global level is expected to reach $290 billion by 2021, with Asia being an emerging market. It means that people want alternative lending channels besides traditional banks.

Marketplace lenders, including peer-to-peer lending services, tend to apply innovative technologies, use intuitive applications accessible from mobile devices, require affordable fees, and focus on the borrowers’ needs. Some P2P services attract many clients as the demand for such services grows.

But what about applying blockchain technology for unmatched user experience?

Well, this is what Crowd Genie Financial Services Private Limited (Crowd Genie) is doing right now.

Singapore-based Crowd Genie is a blockchain-oriented startup that wants to change the way people lend and borrow funds. It operates a P2P lending platform focused on Asia region, which aims to guarantee small and medium businesses access to loans from other companies and individuals. However, the platform goes beyond that.

The company obtained a license from the Monetary Authority of Singapore (MAS), and this is a big achievement that shows the project is genuine, as this is only the fourth license that the MAS is giving to a P2P lending platform.

Genie ICO

To support its platform, Crowd Genie, through its related entity CGSPV, decided to conduct an initial coin offering (ICO) hoping to raise $35 million. It must be good news for investors, as the company has a track record of cash flows and a license from the MAS.

The token sale event started on February 1, 2018, and will end on February 28. At the time of writing, the event is at its stage 1 period, which means investors can buy CGCoins with a 25% bonus. If you can’t participate in the crowdsale during the stage one, which ends on February 14, you can still enjoy a 15% bonus if you buy CGC during the Stage 2 of the ICO, which ends on February 21. Those who take part in the third and final stage of the token sale event can claim a 5% bonus.

The Ethereum-based token can be bought at an accessible price, which is 1 Ethereum for 400 CGC tokens, with the minimum purchase limit at 0.1 ETH. This means that, as of today, a CGC token costs $2.135.

From the 60,000,000 CGC tokens issued, 83% is allocated for ICO investors, while the rest of the tokens are reserved for the project founders, marketing costs, distribution costs, and management expenses among others. The total token supply is capped at 120 million, but half of it will be released later to facilitate platform transactions.

Unfortunately, US citizens cannot invest in Crowd Genie’s ICO.

Why buying CGC is a great investment?

It’s important to understand that you can use CGC tokens for different purposes:

  • Wait until the ICO ends and the tokens get listed on several major crypto exchanges. This is where the CGC price starts floating freely and can rapidly increase given that it’s backed by a genuine project. It means you have the chance to generate some good
  • You will be rewarded with CGC Credits for timely repayments, and these credits are essential when the platform goes live. If you ever plan to borrow on Genie’s P2P lending platform, these credits may ensure your good reputation.
  • Crowd Genie will conduct a buyback program for several years. The company will use 80% of the net profits to buy the tokens at a market price at the end of every quarter.
  • As a token holder, you will be able to lend funds across borders and earn interest.

In the future, the company plans to open offices in India, Australia, and New Zealand. Besides its P2P platform, Genie wants to launch the Blockchain Asset Exchange, so there is much room for growth.

Investors should not hesitate, as the Ethereum price might start increasing soon given that the whole crypto market seems to wake up from its correction. If the ETH quotation goes up, CGC tokens will become more expensive.

Crowd Genie’s platform

The P2P lending platform provided by Crowd Genie is expected to become a great success given that it is compliant with the MAS rules, is based on the distributed ledger technology, and is customer-oriented.

Genie plans to make its product a leading Asian lending network that facilitates low-cost and easier flows of capital between lenders and borrowers.

To ensure the due-diligence for both parts, Genie will create a digital passport that stores verified data for each stakeholder and asset. This will make sure the KYC, AML, and FATCA compliance is met.

Moreover, it is the first platform in Singapore to come with a provision fund. GenieShield, as the fund is called, will protect lenders from defaults and delayed payments.

Crowd Genie was founded by two experienced entrepreneurs: Akshay Mehra, a consultant in new growth advisory, seed investing and start-ups for more than 17 years, and Bikash Saha, former COO at Standard Chartered Capital Korea.

The whole project is backed by a great team and is fully compliant with the regulator’s requirements, which can guarantee long-lasting success.

For more info, check out Genie ICO.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.

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property loans for foreigners in Singapore

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