Over the last 4 years since its launch, FinanceCoin’s price has increased more than 5 times to $5.15 as at 3rd January 2017 on the U.S. based BTCoinX.com exchange platform where it can be traded. This puts FinanceCoin on tracks for best 4-year performance amongst most tracked cryptocurrencies. The value of FinanceCoin currently stands at a record high of approximately US$300 million, with an estimated 76 million units of the digital currency available for mining and in circulation currently. Sources shared that a projected 110 million units of FinanceCoin will be in circulation by the year 2020.
This is in the wake of the fintech boom in the last few years, with a trailblazing number of fintech industry start-ups ever witnessed. The web-based FinanceCoin, which is touted as the first business-to-business decentralized Digital Currency, is targeted at facilitating capital flow between Venture Capital Firms and start-up stage technology-based companies that require intensive capital funding or financing. It can move funds across the globe and between different parties, swiftly and anonymously without a need for a centralized authority or jurisdiction. Its attractive not only for those wanting to get around capital controls, but also generate cost savings on transactions and provide security. Chase Hector, a cryptocurrency industry veteran, said “FinanceCoin has been supported by the significant increase in number of fintech start-ups in recent years, coupled with the heightened interest that Venture Capital firms have expressed in this industry.”
Both fintech companies, venture capital firms and investors alike have gradually come to see FinanceCoin as a good hedge against currency devaluation of their granted, borrowed or lent capital in their domestic countries, and are inclined towards the digital currency instead of other globally traded traditional currencies – many of which have experienced huge volatility in the past year due to several major economic shocks to global markets.
If this trend continues, FinanceCoin is in a good place for a thematic play on rupturing traditional money norms as the only form of capital injection in fintech start-ups.
