This is the first time a full cryptocurrency acquisition has occurred in the industry
CyClean Platform acquired 60% share of IMUSIC THINGS LIMITED which is the holding company of Ketchup Shared Bicycle Platform on 29th of June and signed at Hong Kong Science Park.
This historic event is the first time in the cryptocurrency industry where an acquisition was solely done by cryptocurrency and not cash nor spot goods.
The platform of IMUSIC THINGS LIMITED is called Ketchup. It does not require docking stations of previous shared bicycle models because its bikes have Smart Lock, GPS tracking system, Manager app and buyer-shares-profit-model through its rental services.
Ketchup’s platforms are installed in Hong Kong Science Park and several areas close to Hong Kong’s public transportation. The CEO of IMUSIC THINGS LIMITED, Kenneth Chau is the chairman of Science Park and is well known business man and media magnate in Hong Kong. .
Ketchup bike has smart lock, GPS tracking, app integration, and even two small solar panels for charging to realize the ecofriendly model. It will expand to e-bikes as well with a one battery per person system for smooth managing of battery charging for e-bikes.
Singapore based CyClean Platform already has a strong reputation. It purchased the 60% share using only cryptocurrencies: 50% as CyClean coins and 50% as JPAY coins.
Ketchup was previously approached by one of the largest companies in Hong Kong for shared bicycle but chose to be acquired by CyClean with cryptocurrencies, which indicates the high potential of CyClean Platform and futuristic approach for innovation.
Also at this signing event, movie investment company Brighten signed MOU with CyClean to accept CyClean coins as its movie investment tool.
CyClean’s COO Cooz Komei Tokita says: “In the future, with reward system and coin valuation, we will continue to accelerate the green revolution and protect the health of humanity and our ecosystem.”
“Additionally, the mother platform of CyClean, JPAY platform solved the problem of volatility and confirmation of time for cryptocurrency market in order to make crypto payment gateway (CPG) system possible. Therefore JPAY will be the leading platform in CPG as its first kind.”