Readen Holding Corporation (OTC: RHCO), a Venture Capital Corporation, active in the Fintech, Online Payment and E-commerce industries, today announced that it has decided to stop issuing its cryptocurrency, OkToken, due to the uncertainty on new crypto regulations in China.
OkToken ( www.oktoken.biz ), formerly known as 999OK-COIN, is a cryptocurrency issued by RHCO earlier this year, and is backed by RHCO shares. It is a token developed for venture capital investors, and it gives all individuals the opportunity to invest in venture capital and join the cryptocurrency economy without being overly dependent on traditional cryptocurrencies. It was traded privately and had not been listed on any crypto trading platform yet.
All buyers of OkToken will receive a corresponding amount of RHCO existing shares reserved for OkToken holders immediately. All trading of OkToken will stop until further notice. The Company made this decision due to the current ban of all crypto activity in China, and chose to responds quickly to minimize the risk of investors. In September, ten Chinese agencies, including the central bank, financial, securities and foreign exchange regulators, vowed to work together to ban all cryptocurrency-related activity.
Readen Holding Corp. is a publicly traded Venture Capital Corporation, with major holdings in the Fintech Industry and has been increasing its investment in E-commerce and E-payment sectors, such as;
In addition, RHCO is a Hong Kong-based publicly traded investment company, with an operating history now spanning nearly 70 years. Its focus is to seek opportunities to acquire and grow businesses to generate sustainable cash flow and attractive returns over the long term, creating value for its shareholders. Readen Holding Corporation has subsidiaries and liaison offices in Europe and Asia.
For further information please contact RHCO at info@readenholdingcorp.com or +852 3950 5911
The RHCO corporate email address is info@readenholdingcorp.com
The RHCO corporate website can be accessed at www.readenholdingcorp.com
The RHCO Twitter account can be accessed at https://twitter.com/readenrhco
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Readen Holding Corp. to accomplish its stated plan of business. Readen Holding Corp. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by Readen Holding Corp. or any other person.
Contact
Readen Holding Corp.
+852 3950 5911