STADLER VÖLKEL Rechtsanwälte GmbH

Going public with your own currency

8 November 2017
Going public with your own currency

The Viennese start-up company byte heroes GmbH has created its own cryptocurrency: with the specially created token "Herocoins", the first Austrian cryptocurrency is now officially on the market. HERO Coins are tokens designed specifically for online betting. Stadler Völkel Attorneys at Law have provided legal support throughout the whole currency issuing process to the young Start-up. You can read the full article "Going public with your own currency" here.

What is an Initial Coin Offering (ICO)? An Initial Coin Offering is a new means of raising funds from the public based on the blockchain technology. In an ICO, the developer of a new cryptocurrency or token offers its new coins for sale or for exchange against another cryptocurrencies. These coins are then usually used in connection with an online service, also developed by the company, which tackles a certain problem or serves a particular purpose. Unlike with classical means of raising capital, people participating in the sale or exchange do not have a right to a dividend or repayment of their investment. Instead, participants are expecting a growth of the market value of the new coins. The funds raised in the ICO are then to be invested by the company as stated in its White Paper.

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