Australia's Pioneer Initial Public Offering (IPO) Supporting Cryptocurrency Will Collect Tether

News • 2020/11/02 • by

An Australian firm running a fish farm in Malaysia is organizing the first IPO to receive digital currency in Australia.

Stax, a fundraising platform in Australia that supports digital assets, released an official statement, explaining that its client, West Coast Aquaculture (WCA), will be organizing Australia'sAustralia's pioneer IPO that receives digital assets as a means of transaction.

Major Updates:

Investors taking part in the offering can buy shares with Tether or AUD in the firm.
The Tether was preferred because the price is more stable compared to other assets.
WCA runs a big fish farm in Malaysia, where it specializes in providing fresh grouper fish.
WCA will offer about 10M to 14M shares at the rate of $0.50, which is 8.78% to 11.87%.

The founder of Stax affirmed that stablecoins provided crypto benefits without being affected by other coins' instability and furthered that the firm is looking to add more in the future.

After the raise, WCA plans to make its shares available on the SSX and plans to begin trading a few weeks into November. The CEO of Sydney Stock Exchange (SSX), Michael Go, commended the company for promoting a fundraiser supporting Tether.

What do you think about the capital raise to promote USDT? Let's discuss in the comment section.

Source: Cointelegraph.

Comments (5)

Guest

dean01oreoluwa

6 years ago

This is a good improvement on the part of firm. With the introduction of digital assets as one of the means of transaction will make payment easier and faster due to the variety of options

godgrace1

6 years ago

The more investors in the market the better.

visiblemoney

6 years ago

The capital raise by the duo of Stax and WCA are the real proofs that the global economy needs to see to believe in the immense opportunity accorded by using cryptocurrency in usual traditional investment platform to promote and sell a company share through the payment gateways of stablecoin- USDT. This development will encourage more masters of industry to use this founded business application to promote their share in stock exchange or crowd funding projects.