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Polybius Bank ICO easily raises over $11 million through first week

The Polybius digital bank project has already raised enough in its ICO which began last week to qualify and register for EU banking regulation. The USD $6 million EU bank milestone was reached just three days after the ICO opened on May 31st. According to the Polybius Foundation’s calculations, this will be sufficient to obtain a full banking license and to launch the bank in an EU country, the project has also set up in Switzerland.

ICO Rates

Polybius token (PLBT) price

USD – 10
BTC – 0.003526
ETH – 0.038356

Right now, day 7 of the ICO, more than $11 million has been raised.

The successful start to Polybius’ ICO confirms the project’s calculations about the demand for a financial institution which can serve as a bridge between the crypto world, with its super high speeds, and modern banking, with all the rigor of its legislation.

Ivan Turygin, CEO and Founder of Polybius Foundation

The Polybius project, established by the Estonian company Polybius Foundation, started out in response to the opportunities created by modern European legislation. It is firmly targeted at developing the financial technologies sector both in the European Union and in Switzerland. Specifically, it is now possible to use blockchain as a basis for documentation and for recording bank transactions.

Other innovations which should increase the effectiveness of the future Polybius bank include the use of specialized artificial intelligence for crediting, and Digital Pass, a digital identification technology. Digital Pass is a secure digital substitute for using physical documents for identification, where personal presence is required.

The new EU legislation allows such a project to be brought to life for the first time in the form of a full universal bank, which can function within the legal framework.

When Polybius Foundation’s ICO has concluded, Polybius Bank’s country of registration will be announced. The team says the choice right now comes down to Lithuania, Luxembourg, Finland or Switzerland.

Starting today, everyone who purchases Polybius investment tokens will see the bonus drop to 15%.

ICO details

What is a Polybius token:
Polybius token – Polybius Blockchain Share – represents the right to receive a part of company’s profit. All token holders are eligible for obtaining dividends according to their stakes. Any number of tokens (100%) sold at the end of ICO have right to receive 20% of company’s profits
Payout Structure:
According to the company bylaws, at the end of a financial year 20% of the company’s profit is transferred to an ETH wallet. The ETH is then redistributed to all holders of Polybius Tokens according to smart contract conditions
Symbol:
PLBT
Total supply:
Not locked
Adjustable:
Yes. The total supply is not locked, as we will need to be able to add tokens before the end of sale and revoke the unsold amount
Initial Rate:
Price per token, locked. 1 token = 10 USD

Source: CryptoNinjas.net

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