Boxer Manny Pacquiao Launches Own Cryptocurrency

Philippine boxing champion and politician Manny Pacquiao has introduced his own cryptocurrency.

On September 1, the South China Morning Post detailed that the Filipino boxer turned lawmaker and celebrity introduced his own token with the financial backing of private investors such as ex-Liverpool and England soccer star Michael Owen and Sheik Khaled bin Zayed al-Nahyan, a part of Abu Dhabi’s ruling family.

The Pac token will be recorded on Singapore’s Global Crypto Offering Exchange (GCOX), clearing the way for his fans to purchase merchandise and connect with him through social media.

GCOX Founder and CEO Jeffrey Lin purportedly stated that the token isn’t aiming to just raise cash but to construct a token ecosystem.

Pacquiao, who right now holds the World Boxing Association welterweight title, initially assumed office as a senator in the Philippines in June 2016.

It was previously reported that American singer-songwriter Jason Derulo is also arranging to launch his own cryptocurrency on the platform.

Evan Ngow, chief communications officer of GCOX, said at the time: “We are committed to assembling a diverse, multi-talented array of stars at GCOX, and Jason will certainly not be the last musician to join our ranks.”

In its white paper, GCOX underscores that its innovation is built on the Acclaim blockchain and is built to benefit celebrities at distinctive points in their career.