Scottish fintech, Scotcoin, is making its debut on the MEXC cryptocurrency exchange.
The move represents one of the biggest UK-based project listings of recent years and will see the tokens valued at a combined $250m (£200m).
Funds raised during the listing will be used to recruit a full-time management team for The Scotcoin Project Community Interest Company (CIC). They will also be used to further develop an ecosystem of partner organisations which accept Scotcoin as a means of payment.
“Listing is a huge step forward in our plans – helping more individuals, businesses, and charities to access the token and use it as a mean of exchanging goods and services,” explained Temple Melville, CEO of The Scotcoin Project.
“Having a dedicated team in place will allow us to focus our efforts on signing up preferred partners in the areas we have identified and, most importantly, provide even more support, on a greater scale, to people who need it.”
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The Scotcoin Project’s initial focus is on the provision of food, clothing, and shelter. It will distribute Scotcoin directly and via approved agencies to third sector groups and people in need.
Scotcoin is already held by around 6,000 individuals worldwide and a growing number of third sector organisations and charities.
