Initial Coin Offerings (ICOs) are growing in popularity and for a good reason. Since 2016, they’ve reeled in more than $8.8 billion in funding worldwide. They’ve gained popularity as an alternative to Initial Public Offerings (IPOs), a method for companies to raise funds. While large economic markets, such as the United States and Europe, have often been the go-to residence for ICOs, there is a shift in the global market where ICO launches are gravitating towards Singapore. That’s because there are several benefits for launching an ICO in Singapore. I’ve narrowed it down to three top benefits so you can get an idea why this city-state is worth exploring as an option for launching an ICO.

At BlockchainWarehouse, we advise most clients to base their operations out of Singapore — often flying with their teams to the region to set up the necessary accounts and licenses.

“Singapore has the right mix of established business and forward-thinking ethos when it comes to blockchain products. The country allows for the establishment of incorporation and bank accounts for blockchain-empowered companies, while also enforcing strict rules in line with the Monetary Authority of Singapore (MAS), establishing legitimacy” – Matthew Markham, COO, BlockchainWarehouse

Consider these advantages:

A Safe Haven View

Singapore has seen more than USD 3.3 billion worth of funding raised using ICOs among 200 startups just in 2017 alone. One of the main reasons behind this success is that the city-state is being seen as a haven for entrepreneurs. This perspective is because the country has a stable currency compared to other countries where ICOs are popular. Singapore has a triple-A credit rating on its debt. In comparison to other countries in Southeast Asia, Singapore is also seen as a developed country and the only one with an advanced economy. Some investors are also investing in the country’s currency to offset risk.

Cryptocurrency Regulations

Unlike other countries that are banning this option, Singapore is setting the bar by putting regulations into place. As of October 2017, Singapore’s Minister for Finance declared that any ICOs that are structured in the form of securities will be under the securities laws that are currently in place. Furthermore, other countries have more regulations in place just for that type of currency, which makes it hard for ICOs to grow.

Attractive Compared to Other Countries

Compared to other popular countries for ICOs, such as Malta and Switzerland, Singapore stands out the most like an ideal place for an ICO thanks to its government and businesses that are reinvesting in the country’s future. For example, Singapore is using new building technology to create more land to build more business centers and housing for its citizens to grow. Singapore also is ranked as one of the top countries for having the fastest internet speed, which makes it ideal for cryptocurrency trading and support.

Final Thoughts

Launching ICOs in the right place is its key to its success. With Singapore’s commitment to regulate cryptocurrencies, reinvest in its country’s technology and infrastructure along with its high credit rating, the country continues to look at as an attractive option for launching ICOs.

Roxana Florea

Roxana is the co-founder of Blockchain Flash News. Passioned about blockchain and cryptocurrencies, she helps blockchain businesses increase awareness in the space by implementing strategic growth on social media.

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