Consumer loan provider IEG Holdings Corp.’s (OTCQB: IEGH) chairman, chief executive officer, sole director and largest shareholder, Paul Mathieson, wholly-owns Investment Evolution Coin Ltd. (“IEC Ltd.”), which has entered a partnership with California-based blockchain company, HashCash Consultants. HashCash Services works with corporations to set up blockchain networks and to tokenize their products and services around the world. IEC Ltd. anticipates 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. The coin is intended originally to facilitate the payment of remittances to the Philippines by Filipino Overseas Foreign Workers located in Singapore, USA and Australia. IEC Ltd will be owned by the same shareholders of IEG Holdings Corporation who hold IEGH shares on April 30, 2018.
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About IEG Holdings Corporation
IEG Holdings Corporation provides online $5,000 and $10,000 unsecured consumer loans under the brand name, “Mr. Amazing Loans,” via its website, www.MrAmazingLoans.com. In addition, IEG Holdings announced on December 22, 2017 that it has formed Investment Evolution Crypto, LLC, a wholly owned subsidiary of IEG Holdings (“Crypto”). Crypto will explore the legalities and economic risks and benefits of entering into a joint venture with Investment Evolution Corporation, a wholly owned subsidiary of IEG Holdings (“IEC”), to accept repayment of customer loans in the form of crypto/blockchain currencies such as Bitcoin, provide the crypto equivalent of $5,000 and $10,000 loans to customers, and also potentially create and issue an IEC cryptocurrency. Crypto has not begun operations and is in the development planning stages to explore these business opportunities in this time of changing technology. For more information about IEG Holdings, visit www.InvestmentEvolution.com.
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