OXFORD, England, March 25, 2015 /PRNewswire/ --
The world's second largest digital currency, LEOcoin, was
launched today (25 March).
(Logo:
http://photos.prnewswire.com/prnh/20141219/721470 )
The coin can be officially traded in a few days' time when
LEOcoin's own exchange - LEOxChange - is opened in Hong Kong (2 April). It will also be
recognised by other digital currency exchanges.
Headquartered in Oxfordshire,
LEOcoin's launch follows plans announced last week by Government to
regulate the digital currency sector as it continues to grow.
A new generation technology, LEOcoin is expected to have greater
usability and accessibility compared to other digital currencies.
In its initial phases, LEOcoin is proving attractive to emerging
start-ups and enterprises - because there are no intermediaries
charging commissions, which often present significant barriers to
growth.
A new survey undertaken by YouGov, reveals that almost 50% of
small to medium sized enterprises, who trade internationally, said
transaction fees were a key concern; and 43% who transacted using
debit or credit cards were also worried about the associated costs.
Despite only just being launched some 100,000 entrepreneurs are
already actively using the currency in anticipation of its trading
debut, making it second only to Bitcoin. It is also in the process
of expanding its on and offline merchant base around the world to
accept LEOcoin for goods and services. These range from vinyl
records and bicycles to real estate. The peer to peer network
allows users to make fast, secure and cost effective
transactions.
The key features of LEOxChange are:
- Instant transactions: direct trading between LEOxChange members
(which includes suppliers and retailers) means there are no
intermediaries so you can set your own bid and offer prices and the
volume you want to trade
- Zero Commission: no commission or transaction fees on
purchases. A small commission on sales.
- Transparent and easy to use: easily understood bid and offer
prices and quantities are on display. Full details of the trades
completed are visible on an online ledger.
- Secure: high level encryption systems keep all transactions and
records secure, keeping your trading environment and personal data
safe.
LEOcoin has committed to releasing a maximum of 28,800 LEOcoins
per day for a limited period of 99 years, equating to a total of
1bn LEOcoin, after which no more will be generated. This means it
is designed as a deflationary currency that will increase in value
as demand increases.
Dan Andersson, co-founder of
LEOcoin, said: "The launch of LEOcoin today is an important
chapter in the evolution of the global digital currency market and
is a big statement about the future of the sector against a
backcloth of scepticism to date.
"The industry needs to do much more
to establish its credibility - this was borne out by the YouGov
study which showed that whilst SMEs find transaction fees a concern
when doing business abroad, 85% indicated they were unlikely to use
a digital currency. Also it revealed that whilst awareness is very
high at some 86%, only two percent already accept a digital
currency.
"These numbers don't surprise us
given the negative publicity many of the digital currencies have
had. We believe this has been down to such currencies being
complicated, inaccessible and not user friendly.
"We aim to address these issues to
give users confidence by providing a transparent and
straightforward operating system. We have also focused on
developing a currency that is intended to be used by everyone.
Consequently we anticipate that within five years, individuals and
casual users will have increased exponentially as ordinary
consumers start to see the benefits of privacy and security offered
by LEOcoin, whether trading at home or abroad.
"This is a very dynamic and fast
moving area in financial services and we are aiming to bring
digital currency into the mainstream."
Contact
Sofia Costa
+44(0)117-907-3400