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Bitcoin Suisse Facilitates Early Sale of Rights for Emaar EMR Token Sale
18 October 2019; Zug, Switzerland – Bitcoin Suisse AG, the oldest and largest crypto-financial services company in Switzerland, announces its role in exclusively placing the sale of early rights to the EMR token which will be part of Emaar Properties tokenized referral and loyalty program. The early rights sale remains open until the end of October.
Emaar Properties PJSC, the premiere property developer in the Middle East, North Africa and Asia with a land bank of 1.6 billion sq ft in the UAE and other international markets, has announced its intention to release a token-based referral and loyalty program using the Quorum blockchain. The EMR platform will reward users using the EMR utility token via an app for their loyalty and provide referral opportunities with redemption of rewards in Emaar’s real estate, hotels, e-commerce and owned retail.
Bitcoin Suisse is bringing its extensive knowledge and experience in the field of tokenization and token sales to support the EMR project. The sale of EMR token rights has been opened to a select number of private investors through the Bitcoin Suisse network until the end of October. The EMR mobile application is due for public beta release by the end of the year, EMR token holders will be able to redeem their tokens for various perks through the EMR app.
The issuing company EMR Suisse AG, Emaar’s wholly owned Swiss subsidiary, confirmed EMR’s utility token status and obtained a no-action letter from Swiss financial regulator FINMA on August 6th, 2019.
Lothar Cerjak, Head of Institutional Products and Services at Bitcoin Suisse commented: “We are excited to see companies of Emaar’s size and reputation taking the pioneering step to leverage blockchain technology for innovative use cases. Bitcoin Suisse is proud to help support this innovation and bring its experience and knowledge of tokens and token economics to bear in facilitating the development of the EMR platform.”
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