Aussie fintech Coinnup is making a $US32 million pitch

Perth-based fintech Coinnup has launched the second round of its cryptocurrency token sale on a quest to raise $US32 million from “PMZ” tokens.

Coinnup started with the aim of developing a range of crypto tools, including a listing platform for Initial Coin Offerings (ICO) and a cryptocurrency exchange.

An ICO is like an initial public offering — but instead of offering shares, an issuer offers digital tokens that can be traded on cryptocurrency platforms or swapped for services. Cryptocurrency refers to digital money such as BitCoin.

Coinnup is registered in Australia but earlier this year launched its own ICO in Hong Kong for the issue of PMZ tokens.

The project it’s developing is called the Paymaz platform, which lets users trade, buy and sell different cryptocurrencies from within an app.

Coinnup also plans to the infrastructure for users to make business-to-business payments through cryptocurrency or pay for things like mobile phone bills through the one app interface.

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Source: ICO watch: Aussie fintech Coinnup is making a $US32 million pitch – Stockhead