Hey ppl,
when a company launch an ICO and received millions worth of crypto and will need to convert it to fiat currencies for execution of their business plan, how do they do it?
I am curious coz most banks would have a lot of questions on Source Of Fund (SOF) and Source Of Wealth (SOW) and the nature of ICO won't allow the banks nor the ICO companies to "peel down" the layers and expose the contributors?
I understand that some companies will keep the proceeds from ICO in crypto, but the majority would need some form of fiat to execute day-to-day business.
they can convert it to fiat through large exchange, also they can through OCT when a company launch an ICO and received millions worth of crypto and will need to convert it to fiat currencies for execution of their business plan, how do they do it?
I am curious coz most banks would have a lot of questions on Source Of Fund (SOF) and Source Of Wealth (SOW) and the nature of ICO won't allow the banks nor the ICO companies to "peel down" the layers and expose the contributors?
I understand that some companies will keep the proceeds from ICO in crypto, but the majority would need some form of fiat to execute day-to-day business.
