Viktor Shpakovsky and Vladimir Smerkis, co-founders of The Token Fund, have announced ICO details of their new project, Tokenbox. Tokenbox is said to be an all-encompassing system that will enable users to easily create investment funds specializing in cryptocurrency asset.
The founders hope to raise around $20 million through the crowdsale. In a press release Smerkis said “it is really not easy setting up an investment fund in the cryptocurrency field, amid volatile values and as regulations evolve.” Tokenbox is aimed at big institutional investors as well as qualified individuals and has built-in KYC and compliance processes that will help users to easily create new funds based on cryptocurrencies or crypto-related businesses. Alternatively, investors will also be able to simply choose from a range of crypto portfolios to invest in. Shpakovsky said strong interest from traditional fund managers to get into cryptocurrency investing has been a big driving force behind the project creation. “We were getting a lot of approaches from institutional investors and hedge funds looking to white-label our system. They wanted an easy entry-point to the cryptocurrency universe. We realized that, with the appropriate resources, we were in the unique position of being able to provide it. So Tokenbox will be that platform.” The pre-ICO period started October 1st with the company offering tokens in a private pre-sale event in exchange for either Bitcoin or Ether.
The official ICO date has been set for October 24.