Companies based in the Philippines can now raise funding up to 10 million PHP, by putting up for sale some of their company shares.
The shares are held by a registered transfer agent, and Tagcash converts them into blockchain tokens, priced at 1 PHP each. Users on Tagcash can now buy these tokens, which represent a share of the company.
Once tokens are purchased, they can be traded against any other tokens on the Tagcash platform, including money, other share tokens, rewards, cryptocurrencies etc.
Pledging and purchasing of shares can be done by Cash, Bitcoin or Ethereum, from within the Tagcash Wallet, with each campaign lasting 30 days.
Any person or company buying tokens, would need to be KYC Verified before purchasing or trading.
Tagcash uses Multichain.com open source software (a fork of Bitcoin Core). Anyone can connect to the chain, create wallets, store, send and receive tokens, which means you can also store your tokens externally to Tagcash and transfer as you want, in the same way as transferring and receiving Bitcoin. However, in the case of Share Tokens, whoever you transfer to must be KYC Verified.
The advantage to investors is liquidity. Shares can easily be sold or traded at any time, unlike many seed investments that are frozen for much longer. For companies raising funds, a much larger pool of investors is available, including their own customers who have then have a vested interest in seeing their investment grow.
This service is regulated by the SEC in the Philippines, where the securities issued are exempted for 10m PHP raised per year, per company or individual.
This service is not yet live, but if you are interested in raising funding this way, please fill in this form to apply