Cobinhood, a NYC-based cryptocurrency service platform, completed its Initial Coin Offering (ICO) raising $10m USD equivalent ETH.
The company has secured USD$5m from private placement and another USD$5m from VC funds Banyan Capital and Infinity Venture Partners.
Over 200 Million tokens (COBs) were distributed to over 10,000 contributors.
Launched in 2017 and led by Popo Chen, CEO, Cobinhood is a cryptocurrency service platform. The company’s backend team developed a proprietary order matching engine that can process millions of orders with sub-millisecond latency, achieving a real-time trading experience.
In 2018, Cobinhood will launch an ICO underwriting service for high-quality ICOs that have passed stringent due diligence, smart contract code review and legal compliance. The offering will also include marketing and public relations consulting services to help promoting ICOs.
The company will also launch more financial derivatives and services in the future, for example, crypto assets trading with stocks, commodity, market indexes, and futures.
In addition, it will launch cryptocurrency wallet and retail payment service.