Chinese bitcoin exchange LakeBTC which stands for Lake Banking Technology Company, informed recently they are planning an ICO. The exchange is one of the larger exchanges in China and besides exchange and wallet services the company provides merchant solutions for businesses and individuals around the world for accepting bitcoin payments.
The exchange started up in 2013, incorporated as Lake Investments Limited.
The LakeBTC team had the following announcement on the development:
We plan to spin off the LakeBanker project and launch an ICO (initial coin offering) very soon. A new token called banc (symbol BAC) will be issued to participants who contribute BTC and ETH.
Before the formal ICO, there would be a pre-ICO round where contributors can provide us feedback and enjoy extra rewards. Those who are interested in the pre-ICO are recommended to fund your LakeBTC account NOW by making deposits in currencies such as BTC.
This page will update from time to time. Stay tuned for more info.
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We will follow this development as news becomes available, such as reasons for fund raising, and any dates announced.