Could we soon see a token-backed project listed on one of the biggest equity venues in the world? An Asian ICO venture is reportedly trying to take over a Tokyo Stock Exchange listed firm, which would effectively make it a public company.
Noah Ark Technologies is a Hong Kong based company which developed its own crypto token, called Noah Coin. According to its website, the company has several varied plans for the use of its token, including enabling remittances for Filipino workers employed abroad in Japan, serving the tourism industry and even powering a whole new city by 2023 (called Noah City of course).
The company is apparently not content with just raising funds from cryptocurrency investors via the ICO market, as it is reportedly trying to get its foot inside on a traditional stock exchange which will allow it greater access to old ways of raising capital. Noah is a shareholder of Beat Holdings, which is listed on the Tokyo Stock Exchange, and wants the public company to issue new shares and share acquisition rights so that Noah will obtain about half the voting rights.