Blackmoon introduces Xiaomi to the Blockchain

London : Blockchain FinTech company,Blackmoon will next week launch the token sale of the  Xiaomi IPO asset token (BMxXMI) that will give crypto investors the unique opportunity to participate in the Xiaomi IPO on the Hong Kong stock exchange; becoming the first company in history to tokenize an IPO which will be available to be purchase via the Blackmoon Platform.

Xiaomi Corporation is an innovation-driven internet company with the aim to create “amazing” user-friendly products at accessible prices. Founded  in China in 2010, the company became the world’s fourth-largest smartphone company and the number one smartphone company in India.

The Blackmoon Platform offers two main solutions: for Asset Managers, a compliant and secure way to create and manage tokenized funds; and for the Investors, a solution to invest in crypto tokens based on traditional and cryptocurrency-based investment funds.

Xiaomi is the first hi-tech company to tokenize an IPO on the Blackmoon platform. In a token sale, cryptocurrencies contributed by an investor are converted to fiat and transferred by the Token Issuer to the Broker, who in turn, applies for a share allocation. Once the lockup period ends, the Broker sells the shares at the market price. The proceeds are then transferred to the Token Issuer, who converts the fiat currency to ETH and redeems the tokens of the token holders in ETH.

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“We are thrilled to offer this opportunity to our community,” comments Blackmoon CEO Oleg Seydak. “Before launching the Xiaomi token, we had a poll across our social media and many people said, that they would be interested in IPO participation through the token purchase. But we should warn investors that there is lock up period – 93 days. It is the subject to reasonable time needed for the completion of token redemption procedure.”

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