Scotcoin to be listed on an exchange in February with $250m target valuation

‍COMMUNITY interest company The Scotcoin Project has exchanged contracts with a ‘tier 1’ exchange and is set to be listed next month.

The ethical project - which will be initially paired with Tether – has a target valuation of $250 million for its market debut.

The listing will take place within a month, subject to market conditions, and the selected exchange – which shall be named immediately prior to listing – has an average daily trading volume of around $3 billion.

Funds raised in the listing have been earmarked to recruit a full-time management team and further develop an ecosystem of partner organisations which accept Scotcoin as a means of payment for a range of goods and services.

The token is already held by around 6,000 individuals worldwide, as well as a growing number of third sector organisations and charities.

Scotcoin's initial focus is on the provision of food, clothing and shelter, building on the numerous initiatives supported by Scotcoin since its inception. The project will distribute Scotcoin directly and via approved agencies to third sector organisations and individuals in need.

“Our objective is to use the medium of crypto to help create a more equitable world and listing will take Scotcoin to the next stage of its development," explained Temple Melville, CEO of The Scotcoin Project.

"With the money raised, we will be able to dedicate a team to signing up preferred partners offering a range of goods and services focussed on food, clothing, and shelter.

"These partners will accept Scotcoin, providing them with some value rather than having to give away their products and services for nothing.”