Noah Coin ICO Moves to Break Into Tokyo Stock Exchange
Standing in the shadow of Japan’s Cardano, Noah Coin was a humble ICO when it started trading globally earlier this year. Noah’s mission was to reduce international wealth disparities by making cross-border remittance transfers more affordable and reliable. It’s a noble mission, but not unheard of in other crypto projects. More recently, however, Noah Coin has differentiated itself from the crowd with the announcement of an unusual corporate acquisition.
Noah Coin and the Tokyo Stock Exchange
As our readers well know, cryptocurrencies aren’t considered securities like corporate stocks in most of the world. At least not yet. Blockchain coins have always existed within their own markets. There have been rumors of cryptocurrencies being regulated like public stocks but most governments are still considering the issue.
This is what makes Noah Coin’s intentions so unusual. Rather than waiting for regulations to elevate their coin’s status, Noah Ark Technologies has expressed interest in buying Beat Holdings – a publicly traded company. The question is, would this allow Noah Ark Technologies’ digital coin to become part of Beat Holdings? Would Noah Coin, in effect, become a traded asset on the Tokyo stock exchange?
Noah Ark Technologies can’t currently make such a transition, no matter what might be legally possible. The company owns only a minority stake in Beat Holdings: 15% at the time of writing. However, Noah is imploring Beat’s board of directors to issue new stock and to change their share acquisition rights. If Noah gets its way, the company would be able to buy enough stock to become a majority owner of Beat Holdings.
Uncertain Outcomes for Noah Coin
Even if Noah Ark Technologies has the cash, resulting from their $110 million ICO, it’s unclear whether they can buy Beat Holdings. Beat Holdings board members feel “troubled” by one account. There is also the question of whether or not the power play is even authentic. Noah Coin’s published materials include plans for Noah Coin Resorts in 2022 and a Noah Coin City in 2023, which some dismiss as claims made for advertising.
These aspirations are a far cry from Noah Coin’s early efforts in international remittances. Some analysts feel that these grandiose plans lack the systematic integrity by which they might be achieved. If a Noah Coin city is pie in the sky vision, is the buyout of Beat Holdings one also?
Only time will tell. We’ve already witnessed truth that’s stranger than fiction in the still-young crypto industry. Quick access to corporate class capital has given young blockchain companies remarkable agency in the world of business. Securities market access may not come from above (governments, regulations) but crypto projects may claim it for themselves from below, through strategic buyouts like this one.
Whether or not this project moves forward will likely be resolved by the year’s end. Whatever the result, this probably will not be the last time we hear of a blockchain company making an acquisition, one which could bridge the crypto/corporate divide once and for all.