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Aquaculture Firm Completes Australia’s First IPO Raise Using Cryptocurrency – CoinDesk – CoinDesk
West Coast Aquaculture has completed a US$3.65 million IPO, becoming the first Australian firm to use cryptocurrency for its capital raise.
Australia-based West Coast Aquaculture (WCA) has completed an A$5 million (US$3.65 million) initial public offering, becoming the first firm in the nation to use cryptocurrency for its capital raise.
In an announcement provided to CoinDesk on Monday, fintech firm STAX said it had assisted WCA in raising just over 89%, or just over A$4.4 million (US$3.2 million), of the total raise via the stablecoin tether (USDT), a cryptocurrency with its price linked to the U.S. dollar on a 1:1 basis. The remaining…
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