UAE’s ADAB Solutions eyes $18.7 mln from ‘halal coin’ ICO
UAE-registered ADAB Solutions plans to issue its own Shariah-compliant cryptocurrency and is targeting to raise a maximum of $18.7 million by the end of its initial coin offering (ICO) period on Dec 28, the company's deputy CEO of Islamic finance Maxat Salpyn told Salaam Gateway.
ADAB Solutions will kick off the ICO with a public pre-sale on Oct 18 with ADAB tokens priced at $0.10 each. The pre-sale will run until Nov 8, following which the offering will then be open to crowdsale until Dec 28.
The ICO public pre-sale was initially planned for Sep 6 but Salpyn told Salaam Gateway that only 10 percent of the more than 700 registered participants for the private pre-sale placement had made payments.
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Stephanie Augustin