A bitcoin company is announcing it is accepting digital currency investments from investors, raising hopes the sector could finally attract investors willing to put their money in.
At a panel event in New York on Tuesday, the blockchain-based company Coinapult announced it would be accepting digital token investments from people interested in investing in the crypto-currency sector.
Coinapult is part of a broader wave of blockchain companies launching this year, including a bitcoin exchange and digital wallet service, as well as a bitcoin trading platform and an altcoin exchange.
Coinciding with the event, the company also announced it had secured a partnership with a U.S. government-funded research institute to help explore the use of blockchain technology in national security.
The announcement comes as regulators in Europe, Australia and the U.K. have all imposed new rules on how companies can invest in the sector, and the United States is set to launch a similar regulatory framework in 2018.
“This is a huge opportunity for the sector,” said Craig Riedl, founder and CEO of blockchain startup Bitmain, which announced its ICO earlier this month.
“The investment industry is at an inflection point.”
Riedl said he was “very optimistic” that digital tokens would eventually gain traction and attract investment from institutional investors, and he added that he expects the industry will grow to nearly $300 billion in 2020.
He also said that the number of investors interested in entering the market will “only grow exponentially” in the coming years.
A few months ago, Coinapult raised $2 million from investors led by hedge fund firm Elliott Management, according to the company’s website.
That amount represents a $10 million investment, a large chunk of which came from Elliott Management.
The company said that it plans to invest another $100 million in a new coin called Rigo, which it hopes to launch in the first half of 2021.
The company said it has secured a “market-leading” investment from the New York Stock Exchange.
In a blog post, Coinapoint said it was adding the Rigo token to its existing cryptocurrency portfolio, adding that its “coin portfolio includes Rigo tokens, a new cryptocurrency called RIGO, and Rigo’s own crypto assets.”
Rigo tokens will be offered to users as digital currencies in exchange for fiat currency, which Coinapult said will be “generally accepted by the financial sector and the public at large.”
The company also said it is adding Rigo to its portfolio of tokens, adding: “The Rigo crypto assets will become the foundation for a truly global RIGo network, providing liquidity to financial markets and allowing RIGOs to transact in RIGoin assets.
The RIGoken network will eventually provide the global payment network for RIGOCoin, providing a platform for the RIGOBoin blockchain.”
Coincidentally, the RICO designation is a nod to the U,S.
Federal Reserve, which created the RICOs, a measure of financial risk that has helped fuel the rise of the digital asset space.RIGO tokens are expected to go on sale to the public on May 30.
RigO tokens have been widely anticipated to be used to pay for goods and services in the digital economy, including payments for goods on digital wallets.
Coinapult is offering a RICO token, which will be available to anyone who wants to invest in it, for $100,000.