Smschain, an IT/telecom company building an innovative infrastructure providing P2B (person-to-business) services, is to receive a $5M investment.
An unnamed strategic investor will make the investment. Thanks to this agreement, the team has raised the sufficient funds to proceed with the development and implementations of the project according to the original roadmap.
Led by CEO Andrey Insarov and Oleg Makarov, COO, Smschain is a blockchain-based SMS gateway solution that provides a reliable global SMS delivery network, enabling mobile subscribers and SMS aggregators to act as miners, making useful work by delivering messages and mining Short-Message-Tokens (SMSTO) as a reward.
For this reason, the company has announced its decision to call off its ICO, which has been planned for November,20 2017.
All individual investments collected so far as of today will be returned back to the wallets they originally proceeded. The funds will be returned to all wallets between 20th and 23rd November 2017. Tokens of the SMS project will be once again available for purchase once the project is developed and launched. Bounty campaign tokens and those won during the Telegram channel lottery will be fully paid until December 20, 2017.