Unicoin, a blockchain technology company headquartered in New York, strives to achieve a public stock listing and the debut of its cryptocurrency by the end of the year.
Unicoin, which has been operating in the industry since 2015, is creating its token, the value of which is intended to be guaranteed by the company’s equity and real estate portfolio.
In an interview with Cointelegraph, Alex Konanykhin, CEO of Unicoin, clarified that the company’s real-world asset (RWA) holdings contribute to the project’s success but are not interdependent.
“Unicoins do not represent a stake in any asset. Our portfolio, including its real estate portion, is just the funding needed to assure our ability to turn Unicoin into a leading cryptocurrency brand and popularize its advantages.”
Cointelegraph: How does Unicoin address the regulatory challenges of cryptocurrencies and tokenized assets in various jurisdictions?
Konanykhin, Alex: “Unicoin Inc. is a publicly reporting company in the United States with five years of audited financials available on the U.S. Securities and Exchange Commission (SEC) website.” We allocate millions of dollars to auditors, attorneys, and consultants to guarantee compliance with all relevant regulations.
Kreit & Chiu CPA, LLP, an accounting firm in New York, conducts the company’s audits.
Konanykhin explained that Unicoins are available for acquisition through “swaps for real estate or other types of RWAs, without the use of any cash.” Investors may acquire Unicoins through “Buy Now, Pay Later” transactions, which permit them to pay for the acquisition over five years.
“We believe that, as an asset-backed cryptocurrency, Unicoin is likely to be more stable than the assetless cryptocurrencies of the First Wave, such as Bitcoin,” the executive responsible for blockchain said.
The organization submitted an application to the Securities and Exchange Commission (SEC) in February. “We are conducting a large-scale advertising campaign in preparation for going public to increase the brand visibility and value of Unicoin and popularize its advantages,” Konanykhin reported to Cointelegraph.
Konanykhin recently detailed in a letter to shareholders that the listing could occur in a traditional IPO, direct listing, or reverse merger. Konanykhin, who expressed the most interest in the first option, a reverse merger, acknowledged that the market situation has become favorable for crypto companies listed on key exchanges.
We are evaluating several NYSE and NASDAQ listed companies that have been identified as suitable for a merger, as it is the most expeditious method of going public.
Unicoin initiated the security token initiative in early 2022, as indicated by its U.S. Securities and Exchange Commission (SEC) filings. Additionally, the company owns SheWorks!, a Talent-as-a-Service (TaaS) operating company and platform. Silvina Moschini, the co-founder of Unicoin and an Argentinian businesswoman, established SheWorks! in 2017.
“Unicoin is also the majority owner of ITSQuest, a traditional staffing agency with a regional presence in the U.S. Southwest.” In 2021, Unicoin, a holding company, also acquired the majority ownership of Unicorns, a media production company that produces Unicorn Hunters, a business and investing reality show.
In the most recent quarterly report, the company disclosed $30 million in assets and $98 million in liabilities, with $88 million being Unicoin rights financing obligations. Its revenue increased by 16.4% yearly to $5.0 million in Q1 2024.