Emaar is a Dubai-based real estate giant. And it may soon be launching an ICO in Europe.
As reported by a local English-language media outlet Arabian Business, Emaar is planning to launch an Ethereum-based token for its customers and partners. The token will comply with the ERC-20 standard and will be amongst the world’s first referral and loyalty tokens.
The company will also consider an ICO (Initial Coin Offering) in Europe within a year of the internal operational launch of the platform.
“We continuously strive to expand our reach, strengthen our growth and extend the Emaar experience. We have embraced the digital world even as we continue to build the most advanced and innovative physical structures and we use both to delight and benefit our customers and stakeholders globally. The Emaar community token marks a significant leap in our digital transformation journey.” – Mohamed Alabbar, chairman of Emaar Properties.
The token is being developed by a Swiss-based company – Lykke.
Emaar Properties is a developer behind such iconic landmarks as Burj Khalifa, The Dubai Mall, The Dubai Fountain or the Dubai Opera. It was valued at $9.7 billion as of last June and its total 2018 revenue reached $7 billion after a 37% increase.
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