STOX, invested by Kenges Rakishev’s Singulariteam, plans for an ICO
On 2 August 2017 Invest.com Group announced that it is preparing for an ICO of the new prognostic platform focused on cryptocurrency, Stox, based on the Bancor protocol. Invest.com Group, with Kegnes Rakishev and Moshe Hogeg as its main investors, is going to upload its smart tokens via Bancor to ensure the liquidity of Ethereum. Bancor has developed a platform that it based on blockchain tech for rapid exchange and cryptocurrency conversion without any 3rd party services or intermediaries involved. Invest.com Group aims to attract $30 million during the ICO.
The Bancor protocol includes the internal tool that evaluates the price and liquidity of tokens based on blockchains that support Smart Contracts technology. These smart tokens contain one or several other tokens in reserve and give all parties an option of instant smart token buying or deletion at the cost of one of the reserved tokens directly via smart token contract at a permanently updated price through the buy-and-sell balance formula.
Invest.com Group IPO is synchronized with Singulariteam’s new field of work in the sphere of blockchain and cryptocurrency technologies.
“The board of directors meeting was dedicated to the new fields of business – electronic money and digital currency,” stated the fund co-owner Kegnes Rakishev in May 2017.
One of the first steps in this blockchain field was the strengthening of the fund’s team. In July 2017, Singulariteam welcomed into its ranks Roy Carty, the previous head of Rainbow marketing department; this company, also known as Shine Technologies, is the service of ad-block at the level of Internet providers.
Apart from investments in Invest.com Group the portfolio of Singulariteam contains 40 high-tech companies. Kegnes Rakishev is the co-founder of the Sirin Labs company that became known by its high security Android-based Sirin Labs Solarin smartphone.
As reported by the Crunchbase portal, during the recent years Kegnes Rakishev invested $87.7 million in the following high-tech projects: TriPlay, IQcard, Fastlane Ventures, mobli, Net Element International, Radio Runt Inc.