A Public Firm ICOs in Singapore
Y Ventures Group, (the Group), which describes itself as a data analytics driven eCommerce company, went public on the Singapore Exchange last year. This year Y Ventures has become the first publicly listed company in that City State to launch an ICO. It almost certainly won’t be the last. There is a lot of Singaporean interest in cryptos.
The Group is setting up an eCommerce buying platform that will focus on cross-border purchases on behalf of consumers. It calls this the AORA platform, and its utility tokens are intended for use thereon.
Luminore 8, the subsidiary of Y Ventures that will be responsible for establishing the platform, has struck a deal with Singapore Post Ltd., and together they will “explore possible enhancements to the E-commerce parcel logistics chain utilizing new technological processes for warehousing and last mile delivery.” Luminore 8 has also issued a white paper that sets out details on the proposed ICO, the AORA Platform and AORA Coins, available here.