Toronto-based financial technology firm impak Finance, announced on Wednesday the public presale of its impak Coin, Canada’s first initial coin offering (ICO) fully compliant with Canadian securities laws.
The currency is designed to function alongside the traditional economy “but with the public benefit in mind,” the company says in a news release. The public crowdsale of its impak Coin starts Aug. 21 and investors can participate on the company’s website.
“impak Finance is writing a new page in the young history of ICOs by taking on the challenge of becoming fully regulatory compliant and as a result of bringing a higher degree of protection for participants,” says Paul Allard, impak Finance’s CEO, in a statement.
impack Coin is one of the first few ICOs globally to have passed all of the national regulatory requirements. The company believes its model will be a lesson for regulators seeking to protect investors while also helping small businesses raise capital using the newest developments from financial technologies.