World’s first regulatory compliant ICO, launched in the Isle of Man
- Isle of Man regulatory environment supported Adel’s successful ICO
- First ever AML/CTF/KYC Initial Coin Offering, raising over €1m in May 2017
- Both Adel Ecosystem and Isle of Man fostering blockchain innovation
The Isle of Man (IoM) is a pioneer in digital innovation, boasting a number of successes in the areas of e-Gaming, digital currencies and now Initial Coin Offerings (ICOs). Adel’s recent ICO raised over 1m Euros to launch its “Incubator for Blockchain Innovation”.
Earlier this year Adel established its LTD, and laid the foundations to issue their Adelphoi (ADL) coin into the crypto community. Working with the IoM has allowed Adel to be the first ICO in the world, subject to Counter Terrorism Financing (CTF) and Anti-Money Laundering
(AML) oversight. This includes requirements to comply with Know Your Customer (KYC) and beneficial ownership procedures.
Gabriel Dusil, co-founder, Adel Ecosystem Ltd, said: “The IoM has shown enormous foresight in allowing startups such as ours, to establish an LTD, and blaze a trail for blockchain innovation. We are pleased to work with the IoM, and look forward to continuing a fruitful partnership which creates an ecosystem that will support blockchain services and transforms the way traditional industries operate.”
Brian Donegan, Isle of Man Government, commented: “We are pleased to work with the Adel team and demonstrate the commercial potential for ICO’s that chose the IoM as their jurisdiction. Our goal is to create an environment that fuels innovation, creates jobs, and protects the consumer.”
Adel is a technology incubator for blockchain innovation – Dedicated to delivering a resilient ecosystem for its community. Adel is an infrastructure aimed at developing, supporting and
creating innovative startups using blockchain technology. The ecosystem consists of stakeholders, community members, staff, a Project Review Committee, and the Adel Board. Its aim is to support projects where members can participate, mentor, and improve their business plans. Adel will harness blockchain as a service (BaaS) to create a collaborative platform for developing, showcasing and funding innovations. Adel is built on Nxt, a leading decentralized blockchain as a service platform, and Ardor, which allows businesses to create their own blockchain under the Ardor network using Nxt’s built-in technology.
Press Contact: John Mcleod JEA Associates, Tel: 0044 7886920436 E-mail: [email protected]