Jibrel Network, a Zug, Switzerland – based decentralized protocol for storing and transacting traditional financial assets on the ethereum blockchain, raised $30m through the sale of its Jibrel Network Token (JNT).
The project’s hardcap of $30m (or 120,000,000 JNT) was reached on December 27th, one month ahead of the scheduled end date of January 26th, 2018.
The token sale began on November 27th. Participants came from over 140 countries, with the majority of participants coming from Korea, China, Australia, United Kingdom and Germany.
Furthermore, the sale had 9,678 sign-ups, 5,156 contributions, and an average contribution value of ~$4,500.
Led by Talal Tabbaa, co-founder and business development lead, Jibrel Network offers decentralized, asset-backed tokens representing real-world traditional financial assets (such as equities and commodities), known as CryptoDepository Receipts (CryDRs). These smart tokens have regulation embedded, ensuring that real-world rules and regulations are always followed. By translating real-world regulation into code and deploying it on-chain, Jibrel Network creates smart regulation and governance without governments.