- Successful fintech offers crypto opportunity
- IEGH shareholders of record as of April 30, 2018, can obtain shares in Investment Evolution Coin Ltd.
- Investment Evolution Coin pursuing untapped $28 billion annual remittance market
The cryptocurrency markets are exciting yet fraught with volatility and risk. The meteoric rise of bitcoin from mere pennies in 2010 to nearly $18,000 at the end of 2017 garnered enormous media attention and widespread speculation. However, bitcoin rapidly tumbled and stumbled to about $6,000 by February 2018 and is now trading near $8,000. Some say this is a temporary aberration and it’s headed to $250,000; others say that it’s worthless and headed to zero. Extreme volatility and risk are cold companions to investors. With all the tumult in cryptocurrencies, there may be a better way to gain exposure to crypto markets while mitigating risk.
IEG Holdings Corp. (OTCQB: IEGH) recently announced that shareholders of record on the measure date of April 30, 2018, will retain an upside in the cryptocurrency sector through the launch of a new cryptocurrency by Investment Evolution Coin Ltd. (“IEC”), a company managed by IEG Holdings CEO Paul Mathieson. Investment Evolution Coin Ltd. is a Singapore incorporated public unlisted company that is actively exploring the launch of a new cryptocurrency in Singapore to be called Investment Evolution Coin (“IEC”), which will aim to capitalize on an existing $28 billion annual remittance market. Anticipated to launch this summer, Investment Evolution Coin aims to simplify and capitalize on the $28 billion in financial transfers to the Philippines from its citizens who work in other countries. To prepare for launch, IEC has entered a partnership with HashCash Consultants, a cryptocurrency consultancy company based in Silicon Valley, California.
IEG Holdings shareholders of record on April 30, 2018, will be provided the opportunity to receive shares in IEC that are equivalent to the number and percentage of IEG Holdings common stock in possession of the respective shareholder (http://nnw.fm/ds5XQ).
IEG Holdings is a specialized fintech company in the business of providing unsecured, five-year consumer loans of $5,000 and $10,000 under the brand name ‘Mr. Amazing Loans’ through its website (www.MrAmazingLoans.com). The company is licensed and/or holds certificates of authority to originate direct consumer loans in 20 states. Avoiding subprime lending, IEG Holdings targets the near prime loan market by servicing the needs of underbanked consumers that tend to be ignored by mainstream institutions. The company charges fees that range from 12.0 percent to 29.9 percent APR, which offsets defaults and delivers healthy returns on its loan portfolio. Amazingly, the company’s customer acquisition cost is about half that of traditional brick and mortar lenders, and it offers an automated online loan approval process with transparent contracts and no hidden fees. Customers must like the process and service, since 80 percent of IEGH’s loan book is repeat business.
In February, IEG Holdings signed a blockchain software consultant to provide blockchain development services with plans to create its own IEG Holdings cryptocurrency, but it has decided not to pursue any direct cryptocurrency-related ventures at this time. However, the company is pursuing a parallel opportunity through Investment Evolution Coin and providing shareholders the ability to participate in the crypto markets and the opportunity to capitalize on newfound markets.
IEG Holdings shareholders of record on the measure date of April 30, 2018, could gain significant upside exposure to new cryptocurrency opportunities and mitigate risk through Investment Evolution Coin.
For more information, visit the company’s website at www.InvestmentEvolution.com
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