Singapore-based Global Crypto Offering Exchange (GCOX) has unveiled plans to launch boxing legend Manny Pacquiao’s cryptocurrency, PAC Token. The launch will happen either by the end of 2017 or the first quarter of 2018, according to reports.
According to Evan Ngow, all preparations for launching the token have been made, and the only delay the project team has to face is related to the Securities and Exchange Commission (SEC). The regulator has not yet set the framework on cryptocurrencies and initial coin offerings (ICOs). The document should be issued before the end of the year, and, according to Ngow, the coin can be launched immediately after that.
GCOX chief communications officer said the volume and value of PAC Tokens that GCOX will initially offer are still under negotiations with Pacquaio’s camp.
“We ‘tokenize’ the popularity of each celebrity. We are giving the celebrities a chance to create their own celebrity tokens,” he said.