Singapore mobile payment app company SpherePay opened its Initial Coin Offering (ICO) or Initial Token Sale on Monday (February 5) . Earlier this month, SpherePay announced that it will launch a total of 10 Bbllion SAY token, of which 40% will be distributed for sale via ICO.
According to a spokesperson, the company has already received many inquiries from interested buyers from all over the world. "During our pre-sale period, we received many inquiries and show of interest through our Telegram community group, Facebook messages and e-mails. We are responding to all inquiries as fast as possible. We will increase the number of our service team immediately to better respond to all inquiries," said Joseph Chen, CEO of SpherePay.
In recent years, the fintech industry has seen a booming growth in the number of cryptocurrencies launched. SpherePay aims to be different. Its mission is to revolutionise the entire global peer-to-peer trading ecosystem by being the first in the world to link virtual currency assets to real life via a decentralised sharing economy. This means that SpherePay's users can utilise SAY to make actual purchases via a mobile app.
"One objective of us introducing SAY is to solve a problem which has been around for quite some time, it is to transact cryptocurrency in real life. By having SAY on our mobile wallet app SpherePay, we allow users to use our SAY cryptocurrency and other cryptocurrencies to purchase any item in real life via our app. We will soon share with the public how this can be done, via our app. We plan a full "up and running" completion of this integration project by beginning of March, so it is not that long from now. Public however can get the SAY token starting from today" said Joseph.
Starting from February 5, interested buyers and investors can purchase SAY via exchanging Ethereum (ETH) tokens to SAY tokens on cryptocurrency digital wallet such as MyEtherWallet, ImToken or other wallets which are ERC20 compatible. Buyers and investors are advised not to use any other exchanges to transfer the ETH, only transfers via the digital wallets will be accepted.
The current exchange rate of ETH to SAY is 1 ETH to 80,000 SAY and minimum contribution is 0.5 ETH with no personal cap - 50% of SAY purchased in this ICO will have a lock in period until April 5, 2018. The SoftCap for this ICO will be 2 Billion SAY and the ICO will end once it reaches its HardCap.
Interested buyers who are not familiar with purchasing cryptocurrencies or have further questions can join the company's official Telegram community group at @SAYOfficial. All questions will be answered by the SAYOfficial admin. Alternatively, public can also visit the website at say.spherepay.com to find out more information about SAY.