Astronaut Capital, a leading cryptocurrency fund, has become an investor in the private sale token event for FIC Network (eFIC).
FIC network is a US-based company which is seeking to create a decentralized securities network that includes an array of different assets including bonds, loans and asset-backed securities.
In March, the company will be holding an initial coin offering (ICO), where it will raise up to a maximum cap of $16 million.
“Tokenization of credit and debt-related assets is a truly disruptive segment. If you have any experience in transfer and settlement processes for corporate bonds, you would agree how much a streamlined and transparent solution is needed.” says Matthew Dibb, the CEO of Astronaut Capital.
FIC Network aims to improve upon traditional systems in the fixed income market by integrating blockchain, therefore hoping to reduce costs, operational friction and commercial risk while increasing transparency.
“I think a lot of prospective investors are looking at the similarities of FIC Network to Polymath, who is looking to create a similar solution but for the equities market. If you look at the fundamentals, you would quickly realize how much bigger the opportunity is in the global credit and debt markets. ” says Matt.
FIC Network is currently holding their presale round under the token code (eFIC).
The Astronaut Investment Committee (IC) approved the investment citing “the market opportunity is significant, even if FIC Network is only able to secure a small number of major jurisdictions for operation”.
To accompany the contribution, Astronaut Capital released a full research report explaining its rationale for the investment. The research has been prepared through Picolo Research, an independent analysis firm focused on emerging blockchain companies.
The report prepared by Picolo Research does highlight some caveats, explaining “While we are attracted to FIC Network and its ambitions, we do acknowledge the regulatory hurdles it may face. Given the nature of the ever-changing legal landscape, we would anticipate that some jurisdictions will be much harder to gain licensing than others. We highlight this as a potential risk prohibiting growth”.
More information can be accessed on the Astronaut Capital website.
A full overview of the venture and Astronauts participation in FIC Network can also be found here.
About Astronaut Capital
Astronaut Capital is a research-integrated asset manager focused on early-stage cryptocurrency exposure and initial coin offerings (ICOs). The firm is backed by a leading institutional research house, Picolo Research, and utilizes the expertise of certified financial analysts for investment due diligence. Astronaut is a tradable token under the code ASTRO. More information can be found on the official website www.astronaut.capital.