KinerjaPay Corp. (OTCQB:KPAY), a company located in Indonesia that focuses on digital payments and e-commerce, announced on December 21, 2017, that it would be entering into the cryptocurrency world by creating its own crypto token and setting up an ICO (initial coin offering) for it.
The company is to be joined by Blockchain Industries, Inc. (OTC:OMGT) and Fintech Global Consultants, which will help to guide KinerjaPay in its plan of becoming a company that provides a token payment platform (as opposed to its current offering of an electronic payment platform).
KinerjaPay plans to start trading its cryptocurrency KCOIN on one of the largest crypto exchanges in Asia, once the company has successfully raised US$5 million from its ICO. Currently, KCOIN is being traded solely on KinerjaPay’s platform. KinerjaPay also intends to start trading KCOIN on its own personal crypto exchange, which it will be aided in launching by Blockchain Industries and Fintech Global. This platform, KryptoPay, will allow the company to offer KCOIN on an international level. The intent of KryptoPay is to help the public easily conduct banking transactions.
It has been several days since making the announcement, and the company stock is still going strong, increasing even more since the December 21 announcement. At the time of writing, KinerjaPay Corp stock is sitting at $2.69, putting it up $0.69, or 34.5%, from Tuesday’s close of $2.00. On the day of the announcement that KinerjaPay would be entering the crypto world, the company’s stock reached, at its highest level, $2.28. This means that, so far, the news is still benefiting the company and will continue to do so for the short-term.
KinerjaPay’s plan not only involves the company with blockchain and cryptocurrencies but fully converts it to it, which could explain why the stock is still showing to be on the rise, rather than dropping off after the initial excitement from the news begins to die down (as has been seen to happen with other companies that have claimed to be entering into blockchain/cryptocurrency without having any specific plan of actually doing so – such as a certain iced tea drinks company, which has seen a price drop of 17% since Tuesday’s close and has been dropping ever since its announcement that it would, maybe, be entering into the crypto world).
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