Back in May Crowd for Angels became the first FCA-regulated platform to offer both debt and equity products.
Now, though still at an early stage in terms of volumes, Crowd for Angels has come up with an intriguing offering which merges two strands of the fintech web. LXCCoin – the world’s first asset based digital currency – is listing on the Crowd for Angels platform to look to raise up to £250,000.
LXCCoin claims to represent the “second generation” of crypto-currencies – holding a whole host of advantages over “first generation” iterations like bitcoin. The benefits of this new-and-improved, fully asset backed and profitable digital currency are multiple. Firstly, there’s full investment recoverability – making LXCCoin a real and predictable asset giving real profit. LXCCoin also has extremely low power consumption compared to, say, bitcoin. That means faster transaction times – and in turn easier convertibility to other coins and cash.
Ragnvald Hoel, CFO of LXCCoin Ltd., explained the product:
“There are 1.1 billion LXC Coins with a base value of €1 to be released over 4-5 years, and with an expected 12-15% annual performance, we expect a premium of around twice the performance per year. The coin will be listed on multiple crypto exchanges, in line with rising popularity, to increase its popularity and use.”
There are an increasing number of examples of interaction between the crypto-currency and alternative finance spaces. It was only last week that AltFi reported on the launch of fundFlyer – Japan’s first bitcoin-based crowdfunding platform. Only a few weeks earlier, Berlin-based Bitbond raised €200k in seed stage funding. As two global forces of financial disintermediation, it’s to be expected that interests within the digital currency and alternative finance worlds will overlap. And these intersecting interests will likely help to speed the LXCCoin campaign to crowdfunding success.