- IEG Holdings’ shareholders will be provided with the opportunity to obtain shares in Investment Evolution Coin Ltd., which is pursuing cryptocurrency projects
- Arrangement allows shareholders unique opportunity to remain involved in the crypto industry with lower regulatory risk, but investors must be an IEGH shareholder before the end of April to be eligible for one Investment Evolution Coin Ltd. share for every one IEGH share held
- Investment Evolution Coin Ltd. has entered a partnership with a reputable consultancy company for the purpose of launching its cryptocurrency, which will facilitate financial transfers from abroad to the Philippines
IEG Holdings Corp. (OTCQB: IEGH) announced that the company will refrain from directly pursuing cryptocurrency-related projects for the time being. However, shareholders on the measure date (April 30, 2018) will retain the upside in the cryptocurrency field through the launch of a new cryptocurrency by Investment Evolution Coin Ltd. (“IEC”), a company that’s managed by IEG Holdings CEO Paul Mathieson. According to a company press release (http://ibn.fm/6HiEh), IEG Holdings’ shareholders will be provided with an opportunity to receive IEC shares, allowing them to remain involved in the crypto industry with lower risks.
Based on Mathieson’s announcement, all IEGH shareholders will be provided with the opportunity to receive shares in IEC that are equivalent to the number and percentage of IEG Holdings common stock in possession of the respective shareholder. The offer will be valid for shareholders on record as of 5 p.m. EDT on April 30, 2018.
As of March 19, 2018, there are over 17.46 million outstanding IEG Holdings shares. The paid up IEC capital is represented by the same number of ordinary shares.
Investment Evolution Coin Ltd. is a Singapore-incorporated public unlisted company. Currently, it is exploring the launch of a new cryptocurrency called Investment Evolution Coin. According to official information, the launch date for Investment Evolution Coin is currently set for May 2018. Initially, the cryptocurrency will aim to simplify financial transfers to the Philippines from nationals who work in other countries, such as Australia, New Zealand, the United States and Singapore. To ensure the success of the venture, IEC has entered a partnership with HashCash Consultants, a cryptocurrency consultancy company based in the Silicon Valley, California.
IEG Holdings Corporation currently provides unsecured consumer loans ranging from $5,000 to $10,000. The operations occur under the brand name ‘Mr. Amazing Loans’. An online application portal was developed for the brand, allowing for completion of the entire loan application process in the digital realm.
In February 2018, IEG Holdings announced a partnership with Intellectsoft – a prominent blockchain consultancy company. The plan focused on the creation of an IEG Holdings’ cryptocurrency for the offering of loans and the easier acceptance of repayments. However, the company last week announced that, upon further investigation and risk analysis, a cryptocurrency offering will not be pursued at the current time. However, IEG Holdings is set to continue monitoring the development of blockchain technology, possibly considering cryptocurrency ventures in the future.
Borrowing and lending with cryptocurrency (http://ibn.fm/OCs2v) is a concept that has been around for some time. While the range of applications is still limited, the market is potentially huge. Another potential application is using cryptocurrency as a form of collateral (http://ibn.fm/gh1yz) to obtain a loan – a possibility that’s still in its early stages of development.
According to Mathieson, the combination of blockchain technology and a powerful online loan provision system is an exciting proposition that will enable IEG Holdings to eventually become a key player in the blockchain sector.
For more information, visit the company’s website at www.InvestmentEvolution.com
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