oin the Global Tokenization of Financial Assets. Flying Money ICO rating – not rated.
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PRE ICO Dates : 31/01/18 – 29/03/18
About Flying Money ICO (token sale)
Flying Money is developing a Blockchain-based solution for creating and trading digital fiat-backed tokens. Flying Money currency tokens will be traded on major digital exchanges in order to settle trades, transfer funds and diversify cryptocurrency portfolios.
The major problem with investing in cryptocurrencies has been their volatility. Flying Money tokens can reduce volatility by anchoring a digital currency to an equivalent bank deposit.
The initial Currency Token to be issued will be USD called “USDf” followed by EURf, JPYf, AUDf, GBPf and CADf. All currency tokens will be backed 100% by an equivalent amount of fiat currency held in a bank account. Users will be able to buy and sell Flying Money Currency Tokens on digital markets globally, or create, or redeem tokens on our payment gateway.
The only real competitor currently operating in this token currency market is Tether. It has a market capitalization of approximately US$2.1 billion dollars and turns over in excess of US$1.9 billion dollars daily.
Flying Money’s Payment Gateway will allow users and businesses to accept cryptocurrencies as payments for goods and services in over 42 million online and store locations.
The Flying Money ICO management team have selected key financial industry sectors that are suitable for rationalization and disruption such as remittances, FX exchange and payments.
The Flying Money wallet will allow payments to be made globally and with the convenience of a mobile phone app. Flying Money customers can also exchange between currency tokens directly on their mobile wallet app bypassing costly banking exchange rates.
The payment gateway can be partitioned to offer white label point of sale functionality for a vendor to accept payments under their own branded payment gateway or portal.
ISSUE OF FML TOKENS
Flying Money seeks to initially issue 50 million FML Tokens.
FML Tokens can be used to pay for the transaction costs on purchasing Currency Tokens on the Flying Money’s payment gateway.
Flying Money reserves the right to publicly issue a further 15 million FML Tokens if it considers there is demand. If these FML Tokens are not issued during the Token Sale they will be destroyed upon the completion of the Token Sale
FEATURES OF THE CURRENCY TOKENS
The first fiat-backed Currency Tokens are proposed to be called the USDf Token, subject to further legal advice and relevant technical considerations. Each USDf Token is proposed to be 100% backed by a corresponding and equivalent amount of United States dollar bank deposits.
Subsequent tokens may include, Great British Pound (GBPf), Japanese Yen (JPYf), Canadian Dollar (CADf), Euro (EURf), Australian Dollar (AUDf).