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Singapore-based mobile payment app SpherePay just launched its ICO, selling 40% of its total 10 billion SAY tokens. According to the company, it has already seen a lot of interest, mainly from the US and Japan. SAY tokens can be bought with Ethereum tokens through MyEtherWallet, ImToken or other wallets which are ERC20 compatible.

“During our pre-sale period, we received many inquiries and show of interest through our Telegram Community Group, Facebook Messages and Emails. We are responding to all inquiries as fast as possible. We will increase the number of our service team immediately to better respond to all inquiries,” said Mr Joseph Chen, CEO of SpherePay.

SpherePay aims to set itself different from the common model of ICOs, by creating a global peer-to-peer trading ecosystem, and being the first in the world to link virtual currency assets to real life via a decentralized sharing economy. The program will be up and running by early March.

Related: JP Morgan, Bank of America and Lloyds Bank ban cryptocurrency purchases on credit cards

“By having SAY on our mobile wallet app SpherePay, we allow users to use our SAY cryptocurrency and other cryptocurrencies to purchase any item in real life via our app. We will soon share with the public how this can be done, via our app,” added Chen.

Starting from today, interested buyers and investors can purchase SAY via exchanging Ethereum (ETH) tokens to SAY tokens on cryptocurrency digital wallet such as. Buyers and investors are advised not to use any other exchanges to transfer the ETH, only transfers via the digital wallets will be accepted.

The current exchange rate of ETH to SAY is 1 ETH to 80,000 SAY and minimum contribution is 0.5 ETH with no personal cap. 50% of SAY purchased in this ICO will have a lock in period until 5 April 2018.

Read more: Deutsche Bank execs weigh in on cryptocurrency investment, and they’re not fans

by Henry Vilar
Henry is Junior Reporter at IBS Intelligence, follow him on Twitter or contact him at: henryv@ibsintelligence.com
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