NetworkNewsBreaks – IEG Holdings Corp. (IEGH) Stops Pursuit of Cryptocurrency Ventures; CEO Offers Shareholders an Opportunity to Receive Investment Evolution Coin Ltd. Shares
IEG Holdings (OTCQB: IEGH) this morning said that after considering the potential risks and benefits, it will not pursue a cryptocurrency offering or any other cryptocurrency-related ventures at this time. However, the company intends to keep an eye on the developing regulations and may consider cryptocurrency opportunities in the future. In addition, IEG Holdings will continue to explore the potential application of blockchain technology to its core consumer lending business. The company’s chairman, chief executive officer, sole director and largest shareholder Paul Mathieson wholly-owns Investment Evolution Coin Ltd. (“IEC Ltd.”). IEC Ltd. is exploring the launch of a new cryptocurrency in Singapore and select other jurisdictions to be called Investment Evolution Coin (“IEC”). The IEC cryptocurrency targeted launch date is May 2018, subject to receipt of any applicable regulatory approvals and licenses. Mathieson intends to provide each of the other shareholders of IEG Holdings of record as of Monday April 30, 2018 with the opportunity to receive the same number and the same percentage of ordinary fully paid up shares in the issued share capital of IEC Ltd.
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