ICO stands for initial coin offering. As cryptocurrencies such as Bitcoin continue to gain popularity and see their pricing surge, more and more are turning to ICO as a mean to fundraise. Messaging app Kik is the latest and most well-known company to offer ICO, after receiving a US$ 50 million investment from Tencent in 2015. The deal valued the messaging app at US$ 1 billion at the time.

Speaking to Jon Russell from TechCrunch on stage at TechCrunch Shenzhen, Kik CEO Ted Livingston explained the impetus behind the ICO and what he sees as the future for Kik’s cryptocurrency.

Jon Russell: What actually is an ICO?

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Linda Lew

Linda Lew is a Beijing-based journalist who covers technology, start-ups and business in China. You can reach her at lindalew at aliyun dot com.