TessPay intends to conduct an initial token offering (ICO) to help fund development of the Telecoms Escrow Settlement Service. The ICO is expected to occur in the late spring of 2018. The amount of the ICO, attributes of the tokens and plan of distribution have yet to be finally formulated. The timing of the ICO will be affected by prevailing market conditions during 2018 and TessPay’s assessment of the reaction of the ICO community to its business plan once dialogue with that market begins after closing of the RTO. Further, TessPay will assess whether it is practicable to make some type of a hybrid rights offering to its public shareholders as a preliminary step in the ICO process.
TessPay intends to take steps after the ICO to have the TessPay-Tokens listed on one or more recognized and trusted cryptocurrency exchanges in the Americas, Europe and Asia.