Islamic digital banking start-up Hada DBank has secured yet another strategic partner as it prepares to begin the first phase of its initial coin offering (ICO) on the 1st May.
Hada DBank has partnered with US-based Eclii Ventures, which recently acquired ride-sharing platform Qudos Technologies.
“We immersed ourselves in Hada DBank’s vision to revolutionize the outdated global banking system,” commented Richard Gora, the managing director of Eclii Ventures. A practicing securities attorney, Gora has advised over 15 ICOs in recent months and has handled large deals including representing a consortium in Uber’s US$40 billion series E financing. Hada DBank plans to include Gora on its board of advisors.
This partnership follows on the heels of Canada-based DE Asset Management investing US$500,000 to purchase HadaCoins during its pre-ICO sale, which ended mid-March after a two-week extension. The Canadian firm intends to launch its own cryptocurrency fund through the Islamic digital banking start-up.
Raising US$3 million in its pre-sale, Hada DBank reached its soft cap target, selling over 11 million tokens. It will release up to 50 million coins during the first phase of its ICO, slated for the 1st May. Shortly before the sale, a minimum viable product will be released and participants of the start-up’s bounty and airdrop program will receive their rewards a week after the conclusion of the sale.