Cleary you havent been doing your research
FFG have a binding contract alongside Kryptos -x ( ARTICLE BELOW)
A crypto currency exchange in Singapore which allows people to use this exchange to buy and sell the following
Ethereum
Bitcoin
Litecoin etc...
and other crypto currencies - do you know how much exchanges can make on a daily basis - its like an ATM for each transaction - these guys can make millions in a day
Please do some research rather than making out you understand the core business strategy
Fatfish Internet Group to invest US$1M in Singapore cryptocurrency exchange Kryptos-X
Posted on
November 27, 2017 by
Sainul Abudheen
Find the original article
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Kryptos-X, started by Australian entrepreneur Tony Mackay, is a marketplace for high-volume and high-frequency trading of bitcoin and other cryptocurrencies online
Southeast Asia- and Australia-based
Fatfish Internet Group (FFG) has agreed to invest US$1 million seed capital in Kryptos-X, a yet-to-be launched online cryptocurrency exchange in Singapore.
Kryptos-X is being founded well-known Australian entrepreneur Tony Mackay, who has earlier founded Chi-X Europe and Global, two alternative stock-trading platforms with operations across Europe, Australia, Canada, and Japan.
Also Read: Malaysia’s central bank says it has no plans to appoint cryptocurrency exchange
The proposed transaction will see FFG and Mackay enter into a joint venture arrangement. FFG will be issued with preference shares in the capital of the holding company, which will own and operate the online exchange and marketplace.
Following the investment, Mackay will be appointed as a Non-Executive Director to FFG to advise and assist FFG in developing further applications of blockchain and cryptocurrency technology in the global financial market.
Kryptos-X is being established as a marketplace for high-volume and high-frequency trading of
bitcoin and other major virtual currencies online. The operations will initially be based in Singapore and open to Singapore citizens and residents, in accordance with the regulatory framework for digital token offerings. The strategy is to expand into other jurisdictions where the regulatory frameworks permits the trading of
cryptocurrencies online.
Also Read: Lattice80 partners with Germany’s IOTA Foundation to open innovation lab for IoT, cryptocurrency in Singapore
Singapore has been chosen as the place of establishment for the exchange as it is a well-regulated environment which currently has two cryptoexchanges —
Coinhako and
FYB-SG.
Image Credit:
dimarik16 / 123RF Stock Photo
Cheers
