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EGW Capital Approves Forward Split, Changes Coin Symbol To EGW

10-10-2020 10:28 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: EGW Capital Inc

EGW Capital conducts forward split, changes coin symbol to EGW

EGW Capital conducts forward split, changes coin symbol to EGW

EGW Capital, the leading blockchain investment bank has today approved the forward split of 4:1, i.e. 4 new EGW coins for every old 1 EGWCAP coin held. The management has also changed it’s coin symbol citing commercial reasons. The new contract was issued on the Ethereum blockchain and will also have a DigiByte based blockchain contract in the near future. The management has completed the split considering the price of EGWCAP at the US $6.00, hence the price of new EGW coins will initiate trading at a price of US $1.50 each. The company will soon update details regarding the split and the change of contract on Etherscan, the leading Ethereum blockchain explorer. The new coins will start trading on the BitLux OTC exchange by mid of next week, followed by listing on several retail exchanges in the new few months. It is being assumed that EGW coins will file for listing on Binance, however, this move is still not officially confirmed.

The new Ethereum blockchain contract for EGW coins is 0xfe4588e28dcadbee3d249277d7c048b6c946f2d4. The new circulating supply will be 486.04 million with a total supply of 1,000,000,000 coins with an initial market cap of US $729.04 million.

Talking to the media, Rahul Kumar, the CEO of EGW Capital said “EGW Capital is poised to add several blockchain services in the coming few months. We are considering many new blockchain-based businesses that will complement our existing services. The forward split will allow several traders and investors to benefit from the lower entry price per coin. We have support for 18 decimal places which will allow people to invest any amount as they wish, you can buy 1 or 0.02 EGW coins or any amount depending on your investment budget. We have changed our coin symbol from “EGWCAP” to “EGW” as it reflects our true brand. We will not restrict ourselves to only capital business but add many blockchain technology-based businesses in the next few months and this is what the change in our coin symbol represents,”.

Other than it’s listing and fundraising business, EGW Capital is planning to expand its market-making business and may also foray into crypto mining. The company is looking to add considerable liquidity to automated market-making platforms like Uniswap and Bancor. In terms of crypto mining, the company will buy sizeable stakes or partner with the companies that are already operational in the crypto mining space.

The rapid expansion into other blockchain-based businesses can greatly benefit EGW Capital as it’s dependence on fundraising and listing business will drastically reduce, thus ensuring consistent revenues quarter on quarter (QoQ).

EGW Capital has also merged its bond offering with its staking program to flawlessly comply with the global security guidelines. Under the staking program, any EGW coin investor can buy and deposit their coins in the designated wallet address. The staking rewards are expected to be in the range of 19-24% APR. The staking program will have a lock-in period of 6-9 months and will have complete principal protection (invested value and returns). To participate in the EGW staking program, an investor has to deposit 100 EGW coins, thus this program calls for a minimum investment US $150. The investor will receive weekly rewards in the form of EGW coins which will be sold in the open market at the end of the program.

The EGW coins staking program will be available on several staking websites primarily ProBit.

The company is looking to raise the US $15 million from the staking program. The coins comply with Shariah investment norms and will be actively promoted in the middle east and the Gulf countries.

EGW coins will also be made available in India. The investors will be able to buy EGW coins with help of mobile wallets, credit, and debit cards. Incase, the investor does not have adequate knowledge of crypto but wishes to benefit from the higher returns, he can opt for the managed account services which will be provided by EGW Capital. In such a case, the coins will be managed by EGW Capital itself without the need for an investor to self manage his crypto wallets.

Company Name: EGW Capital Inc.
Contact: James Law
Address: 1100 Peachtree Street NE, Suite 200, Atlanta, Georgia 30309
Phone: 646-583-3062
Email: office@egwmails.com

We help our clients navigate through the uncertainties and capture the opportunity that the blockchain-based digital assets represent. To do this, we have instituted processes and infrastructure in line with the established standards of financial regulation.

EGW Capital operates through several divisions, offering end-to-end solutions for corporates, institutional investors, family offices, and high-net-worth individuals.

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