This is an announcement about the investment from OKWAVE Inc. to Wowoo Pte. Ltd. and the partnership which we settled during the ICO of our project.
On January 31st, 2019, we, Wowoo Pte. Ltd., submitted a request of extension of investment deadline to OKWAVE Inc. through its subsidiary company, OKfinc LTD. We are here to inform the deadline has been extended, after consultation, to end of April, 2019.
On November 22nd, 2018, policies which apply to the law for cryptocurrency in the Republic of Singapore were announced. With the each bank’s settlement corresponding to the cryptocurrency businesses’ legal tender account, we anticipated that we would be able to receive OKWAVE and other investors’ investment in January without concern of investment being frozen. Due to no progression of the guidelines, we were unable to accept the investment within the deadline after the first extension.
Although, the partnership between Wowoo Pte. Ltd. and OKWAVE Inc. has been progressing as we anticipated since the beginning. Along with the development of many projects, including e-commerce project we will be producing, and branding in the field of blockchain, we will continue to cooperate aggressively for the oversea expansion.
The progression of investment from OKWAVE, we will disclose as soon as the investment completes.
Please look forward to our further activities, as we will make our best effort to build and expand the usecase of blockchain under the corresponding regulations in Japan, where OKWAVE has its most influential power inside Asia.