Bitcoins, XEM crypto tokens accepted for LuxTag ECF campaign
By Digital News Asia December 19, 2019
- pitchIN obtained approval from the Securities Commission for this special arrangement
- LuxTag is raising US$193,097 and will accept subscriptions up to US$482,741
CRYPTO token enthusiasts holding Bitcoins and XEM crypto tokens will be interested to know that the LuxTag equity crowdfunding (ECF) campaign, which is live on pitchIN currently, offers two modes for investment.
In addition to money investments, Bitcoin and XEM crypto tokens will also count as non-monetary consideration-in-kind. Investors who chose to send in Bitcoins or XEM tokens will receive equivalent number of LuxTag shares after the value of the crypto tokens in Malaysian Ringgit are determined.
pitchIN obtained approval from the Securities Commission for this special arrangement. Luxtag is a local blockchain-powered business solution provider in the field of track & trace, authenticity, and business insights. The company uses Bitcoin and XEM crypto tokens in the course of its business.
Investors who wish to contribute crypto tokens into the equity crowdfunding campaign can head to invest.luxtag.io for more information. They will then be able to access a web application at luxtag.equity.pitchin.my to enter their details, upload a government-issued ID document, and choose the number of shares they wish to contribute for.
They will be able to see the equivalent value in MYR. The amount of BTC or XEM that needs to be contributed will be shown in the next step. The web application will then guide contributors to send the Bitcoin or XEM to a secure trust account wallet controlled by pitchIN.
LuxTag is raising US$193,097 (RM800,000) in its equity crowdfunding campaign and will accept subscriptions up to US$482,741(RM2 million). As of Dec 18, the campaign has raised US$172,870 (RM716,200) through combinations of money and crypto token investments.
The campaign will run until Jan 31, 2020. For more information on pitchIN and ECF, head to equity.pitchin.my. For more information on LuxTag head to invest.luxtag.io.