COINS
Year End Accounts Show Iconomi Thriving

2018-02-02 01:38:21
by Saffron Weale
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Year-End Accounts Show Iconomi Thrivingrnrn

Investment platform Iconomi announced its final quarter 2017 figures on January 31st. Chief Operating Officer Matej Tomazin confirmed the year-end growth, after a storm of new investment in January that saw the company adding more than 10,000 new users. Trading volume in the final week of January brought the company's market cap up to almost $300m. The native Iconomi token, ICN, has since dropped back a little, but the Q4 2017 figures are outstanding.


The blockchain project was launched in a September 2017 ICO which raised some $5.3m, and is founded by a team of Slovenian developers in Ljubljana. The same team also founded Cashila, an online service which is one of the first cryptocurrency companies in Europe to be registered officially as a Financial Institution. The Iconomi DAA (Digital Asset Array) has been described as an uberised fund management system, a decentralised challenge to the traditional Wall Street system.


The book value of Iconomi increased in Q4 to $327m, 173% more than Q3's value. The company has additionally generated revenues from its DAA of over $200,000 in Q4, four times as much as in Q3. Their focus for 2018 is to continue collecting DAA fund managers from around Europe, and when they are satisfied with the management team, to focus on improving the blockchain architecture and developing new features.

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