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Signal Capital Management LLC (“SCM”), of New York, NY, www.signalcapitalmanagement.co announced today the launch of “PETRODOLLARS”, the world’s first globally compliant cryptocurrency backed by the underlying value of recoverable reserves of crude oil and equivalents (natural gas and condensates), and related assets. Following a regulatory-compliant private placement of PetroDollars tokens to accredited US investors and foreign investors now underway, and a follow-on global ICO expected in late 2018, each of the projected PetroDollars tokens in circulation in the year following the ICO will be backed by more than 10 barrels of oil equivalent of proved, probable, and possible recoverable oil and gas reserves, certified by a third party independent petroleum engineering firm.
The PetroDollars ICO, at up to US$400 million in size, will be one of the largest ICOs to date, and is being backed by a heavyweight team and a global marketing effort.
PetroDollars represents a unique opportunity to invest, use, and trade with a virtual currency backed by physical and easily definable assets, rather than thin air and promising ideas. PetroDollars will be a technology-driven, customer-focused global virtual banking and fast, ultra-secure pseudonymous payments platform, supported by a physical global banking infrastructure to enable premium real-time customer support as well as optimal product utility, including fast, low-fee interchangeability with many other major cryptocurrencies, and all major fiat currencies.
PetroDollars has commenced a Private Coin Placement to accredited US investors and non-US investors at a discount to the planned ICO price.
Inquiries to: [email protected]
from Crypto Currency Online https://cryptocurrencyonline.co/petrodollars-a-new-oil-backed-digital-currency/