First French ICO to Receive Regulatory Approval Completes Offering

French ICO, the first initial coin offering (ICO) that received a Visa from the French Autorité des Marchés Financiers (AMF), has completed the offering.

According to a public statement, French-ICO collected 574.85 ETH, which was 115% of the soft cap for the FICO tokens. The two founders committed 86.47 ETH in the offering. The total translates into approximately € 123,047. The investment will be utilized to the accelerate the development of the 1st French ICO Platform, which intends to facilitate French firms raising capital from both domestic and international investors.

The FICO tokens are being sent to wallets and may be used for products and services offered by French-ICO. The same tokens may be traded on the Zebitex crypto exchange no later than June 15, 2020, contingent to sufficient liquidity.

French-ICO has a vision of offering innovative financing solutions and alternatives to traditional financing.

France was one of the first countries to create a bespoke regulatory regime that recognized ICOs as a new form of capital raising beyond a securities offering. Under the Loi Pacte, France created a regulator approach where ICO issuers could be reviewed by the AMF, and if approved, would receive a Visa to publicly promote an ICO with crypt that can trade on an exchange. To date, the AMF has approved 2 ICO issuers. French-ICO was approved last December. The WPO ICO received an AMF Visa last month.

 


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