Argyle Coin Obtains Guarantee Bond
Argyle Coin is a blockchain based platform for buying and selling fancy colored diamonds.This platform has bought a surety bond which means that it will pay back the original buyers of the Argyle Token in case the token fails and to trade in cryptocurrencies using the company’s wallet because of the n number of unforeseeable reasons.
The company has also released its plans to become the world’s first virtual currency to correlate their token to $25,000,000 worth of fancy colored diamonds.
The goal of Argyle Coin is to create a niche in the cryptocurrency industry by creating a new level of Initial Coin Offerings that will guarantee the performance of its blockchain platform. The philosophy behind this project is that while there are a lot of projects and companies in the crypto sphere, a lot of these fail because they do not have a viable token that will trade among purchasers and other tokens such as the blockchain. However, by backing the project by a financial institution assures all users that they will get a token that is capable for transactions with not only others of the same token buyers, but other cryptocurrencies as well.
If the Argyle Token (RGL) does not perform well, the pro rata value of the bond will be paid back to the original investors and the 25 million that is payable from the guarantee will benefit only those investors that purchase the RGL token directly from Argyle Coin during pre-sale pledges, the Pre ICO or ICO stage. Furthermore, the bond may be used by investors only if the Blockchain is not working on or after February 28th, 2019.
Southern Pacific Insurance Corporation is the guarantor of the bond and the company specializes in contract surety and fidelity bonds spanning over all sorts of surety risks and performance associated guarantees.
Argyle Coin initiated a private pre-sale campaign that successfully reached its goal and closed with an overall investment figure of $4,620,000. After the end of its pre-sale, the company started its pre-ICO on August 27 and that campaign will run for 60 days in total. With the support of the surety bond, the company is expected to fulfill its goal during the pre-ICO period as well by obtaining huge investments from educated and experienced investors.
@ArgyleCoin tweeted on August 29,
Argyle Coin‘s token is #RGL, #tokens for sale Pre-#ICO are 300,000 RGLs. Hurry up and purchase them directly on the website! https://www.argylecoin.io
#argylecoin #ico #preico #blockchain #cryptocurrency #invest
The company also released a video through twitter where the CEO, Harold Seigel explains the importance of fancy colored diamonds.
In announcement of the pre-ICO Argyle Coin released a number of tweets including,
The Argyle Coin’s #Wallet is currently functional on the #web, #iOS, and #Android. It was developed in-house and is secure. This interface, is where you can set up an, icon/photo, & username, buy or sell #Argyle #Coins. By the way, the Pre-ICO has started! https://www.argylecoin.io
The #Pre–#ICO has started! Join our Telegram group – https://t.me/joinargyle and channel – https://t.me/argyle_coin . Buy #tokens here https://www.argylecoin.io
#preico #ico #argylecoin #RGL #cryptocurrency #invest #diamonds #tokens