Secondary Coin Offerings: Bankera Pioneers New Concept

Secondary Coin Offerings: Bankera Pioneers New Concept

Bankera, currently average overing €500,000 per day in the two weeks that have so far elapsed since the beginning of its ICO sale, will eventually be seeking to organise a Secondary Coin Offering (SCO) if the ICO financing of its first-phase of expansion is successful, its team have announced. 

Kuna SCO Precursor

The concept of a secondary coin offering is not entirely original, having been pioneered by Kuna, a Ukrainian cryptocurrency exchange which organised its second round of funding back in July as part of its own series of measures to finance further expansion in light of a successful initial token sale. 

Further rounds of funding are not unusual within traditional business circles but have so far proved to be rare among the 1600 or so ICOs that are thought to have so far emerged within the blockchain start-up space – the Bankera project is only the second known example of an SCO.

Third Round of Funding

Whilst Bankera, even in its first sale phase, may already be preparing the ground for its SCO, the Bankera ICO itself is an operational fork from the SpectroCoin project. SpectroCoin was itself financed by a private round of funding in 2013 to launch  “a range of Bitcoin-based banking services” as well as a cryptocurrency exchange platform.

The Bankera project’s eventual SCO will in effect, then, represent a third round of funding by the original SpectroCoin team who have managed to build up a client base of 300,000 users since its initial product roll-out.

However, the project has not been without its problems as online users of its services have regularly complained about a lack of reactivity in relation to various technical issues associated with the platform.