“We are really excited to announce that we have just entered the second phase of our IPO process, with our initial public offering.
We’ve raised €1.6m through our initial coin offering (IPO) in the form of 0.01 bitcoin per share.
We believe that this is a big step towards bringing our technology to the masses and providing greater security and privacy for our users,” said David Hickey, co-founder of CoinLab, in a statement.
“We want to take our customers on a journey with us, helping them learn about our technology and making it accessible to them as a blockchain platform.
This is a real challenge, and we are working hard to overcome it.
We’re confident that we can reach the target of €1bn we have set, and hope to be able to make this happen as soon as possible.”
Hickey’s team of about 25 people includes founders and investors from the world’s leading technology companies including Binance, Blockchain Capital, CoinLab and CoinLab Europe.
CoinLab’s technology is based on the concept of a blockchain network that allows users to securely transmit funds across the network without the need for a middleman, and the company says it is already used in some of the world ‘biggest banks’ including Barclays, Santander, Deutsche Bank, UBS and HSBC.
The first phase of the company’s IPO process was completed earlier this month and the sale of 1,000,000 shares was completed on Wednesday, the company said.
The IPO will close on January 19, 2018.
CoinLab is aiming to provide users with a more secure and privacy-centric alternative to the bitcoin wallet and digital currency.
“Our technology will be able take Bitcoin, Blockchain and any other cryptocurrency and put them in a single place, where it can be secured, stored and stored securely,” said Hickey.
“This means that it can act as a centralised data store, and can be used by users to transact and store digital currency.”
Bitcoin is a peer-to-peer digital currency that has seen significant growth in recent years and is often referred to as the digital gold of finance.