Insurtech PolicyPal has generated around $20m after an initial coin offering (ICO) that raised 23,809 ether tokens. The two-stage ICO comprised a private pre-sale and public crowdsale, with tokens for the latter selling in 38 seconds, according to the Singapore-based firm. PolicyPal plans to use the capital to develop its blockchain-based insurance product ecosystem, PolicyPal Network, which already counts Aviva, AXA and NTUC Income among its users.
Insurtech PolicyPal has generated around $20m after an initial coin offering (ICO) that raised 23,809 ether tokens. The two-stage ICO comprised a private pre-sale and public crowdsale, with tokens for the latter selling in just 38 seconds, according to the Singapore-based firm. PolicyPal plans to use the capital to develop its blockchain-based insurance product ecosystem, PolicyPal Network, which already counts Aviva, AXA and NTUC Income among its users.