Anti-counterfeiting Blockchain-Startup LuxTag Secures 89% of Capital Raise Within First 4 Days

CYBERJAYA, Malaysia - Dec. 11, 2019 - PRLog -- ​pitchIN​, a Malaysian licensed equity crowdfunding operator, had obtained approval from the Securities Commission of Malaysia to accept investments-in-kind made via the NEM (XEM) and Bitcoin (BTC) crypto tokens for the LuxTag equity crowdfunding (ECF) campaign.

Sam Shafie, CEO of pitchIN said, "LuxTag is running a truly global ECF campaign; their acceptance of Bitcoin and XEM shows they are a firm extending the opportunity across borders. We believe this campaign sets a precedent for other ECF issuers around the world."

Along with LuxTag, pitchIN sought and obtained approval from the Securities Commission for the ECF campaign to accept crypto tokens XEM and BTC. The ECF campaign seeks to raise up to Malaysian Ringgit (MYR) 2 million (approx. US$480,000). Contributions in Malaysian currency and crypto tokens in their MYR exchange-value are counted jointly.

The crypto tokens BTC and XEM are pledged as a non-monetary value trade-in. pitchIN considers the market value of the crypto tokens and assign the equivalent number of LuxTag shares to the investors. BTC and XEM contributions are restricted to angel investors and sophisticated investors, and the minimum contribution by any investor can be MYR6,400 (approx US$1,540 or 0.175 BTC). Investors are required to declare that they are not retail investors.

For more information, investors who wish to contribute crypto tokens or local fiat currency to the ECF campaign can visit ​https://invest.luxtag.io/​. They are able to access a web app hosted by pitchIN to provide their personal details and form of identity as well as choose the number of shares they wish to contribute towards. The required contribution amount of BTC or XEM appears in the next step, after which the web application guides contributors to transfer Ringgit, BTC or XEM into the respective trust account controlled by pitchIN. The sale ends on January 31, 2020.

About LuxTag ​LuxTag is an anti-counterfeit, track and trace, and anti-theft solution provider, utilizing the blockchain platform NEM. The blockchain-powered service evolves around digitized certificates of authenticity for tangible products, linking these to brands and owners through multi-signature smart contracts and the IoT (Internet of Things) elements.

About pitchIN ​pitchIN is Malaysia's No. 1 equity crowdfunding platform. It is a Registered Market Operator with the Securities Commission. The platform has raised over MYR45 million for 42 companies to date, the highest among all ECF platforms in Malaysia. More than 2500 investments have been placed into fast-growing Malaysian companies. To learn more, please visit https://equity.pitchin.my/