Belfrics Global, a rapidly growing cryptocurrency exchange and Blockchain development firm in Asia and Africa has launched Belrium ICO to power a KYC compliant Blockchain called Belrium. It claims it will offer customers a secure, private, personalised and decentralised ecosystem that aims to minimise the repetition related to KYC compliance, saving considerable time and cost.
Mr. Praveenkumar Vijayakumar, Chairman & CEO, Belfrics said:
“The evolving regulations related to KYC compliance have made KYC-based systems more complex and have increased the time for customer on-boarding. That’s where Belrium turns out to be different. Businesses and enterprises across the globe unanimously agree that growing complexity and cost of KYC compliance are major reasons that affect outcomes from both organisational as well as customer perspectives. Belrium is unique in this context as it enables businesses and enterprises to not only reduce the customer on-boarding time but also simplifies the compliance process by eliminating the need for repetition.
“At Belfrics, we are constantly striving to offer both experienced and new users a secure and reliable access to the world of cryptocurrency, ensuring that they receive the best return on investment (ROI). Unlike many other Initial Coin Offerings (ICOs) where the actual product is years away, we are not selling merely an idea.”
“Belfrics has already established itself as a reliable digital currency exchange and a leading software development firm in more than eight countries including India, Singapore, Malaysia, Hong Kong, Middle East, and African nations. Driven by the commitment to enable users with seamless accessibility to using Bitcoin, we have created our proprietary ecosystem. It is a hybrid model that encompasses the benefits of both centralised and decentralised exchanges. Belfrics cryptocurrency brokerage platform not only features top-notch usability but also facilitates users with a liquid order book. We have carefully spread our operations in to various aspect of Blockchain space. Since the Blockchain space is vast and the potential is huge, we have divided our operations in to smaller blocks.”
BET (Belfrics Exchange Tokens- an ERC20 token developed on Ethereum) will be issued during the ICO. After Belrium Blockchain development is completed, BET tokens will be replaced with BEL coins (the access coin for Belrium) at 1:1 ratio.
The fundraising will last for a period of one month starting from 8th September 2017 to 8th October 2017. The amount of token issued is denominated in Bitcoins. Contributions made in ether will be converted at the prevailing rate on the best offer basis. Throughout this period, a contribution of one bitcoin (1 BTC) will lead to an allocation of 2000 BET (belfrics Exchange Tokens) along with a time depended bonus.
Mr. Praveenkumar further added:
“ICO Investments will be channelled to Belfrics Exchange operations, Belrium KYC Blockchain product development and BelfricsBT technology development over the period of next 3 to 5 years. It will also be utilised towards Firstrike acquisition, Belrium foundation, existing investors and pre-ICO marketing contributions.”
Token sales period: 8th September 2017 10 AM SGT (Singapore Time) to 8th October 2017 11:59 PM SGT through www.belrium.io
Belfrics is a fast growing exchange in Asia and Africa and the creation of Belfrics was inspired by the enormous potential of digital currency — a financial environment of transparency and efficiency, decentralised currency system, and greater access to financial markets that were once open only to professionals.
The company is headquartered in Malaysia with its live exchanges operating in Singapore, India and Kenya. Belfrics development team and operational team are based out of Malaysia and India. Belfrics Japan is setup to obtain crypto exchange and Money transmission license to conduct global Crypto based remittance services. By end of 2017, they plan to operate 5 more exchanges in African region.