West Coast Aquaculture (WCA) Completes $3.65M IPO with Over 89% Raised via Tether (USDT)

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by Steve Muchoki · 3 min read
West Coast Aquaculture (WCA) Completes $3.65M IPO with Over 89% Raised via Tether (USDT)
Photo: Unsplash

West Coast Aquaculture (WCA) stocks are now listed on the Sydney Stock Exchange under the SSX code 833.

As cryptocurrencies get globally accepted, an Australian-based West Coast Aquaculture (WCA) has announced that it successfully completed raising $3.65 million via IPO with over 89% through Tether (USDT). According to news outlet Coindesk, the WCA crypto IPO was facilitated by a fintech firm STAX. “The successful WCA capital raise and IPO, paves the way for the future of capital markets in Australia”, said STAX CEO Kenny Lee.

The use of digital assets to raise funds will significantly revolutionize global IPOs as more people who would have otherwise been locked out can now access with much ease.

“We are allowing access to a market which has been hard for overseas investors to get into, and it will only benefit Australian businesses longer term,” Lee explained.

West Coast Aquaculture (WCA) stocks are now listed on the Sydney Stock Exchange under the SSX code 833. According to the IPO files, WCA, which is an international fisheries company with an Asia Pacific presence, anticipates to use the funds to expand its business operations. Notably, the company indicated that it will focus more on its supply chain to ensure the future growth of its business.

“We are proud to be part of this historic moment in Australian investment history, said Neo Ching Hoe, CEO and founder of WCA. “We hope this bold initiative helps open the door to more global investment for local companies,” added he.

The Bigger Picture of WCA Crypto-Backed IPO

Companies in different sectors of the market are now understanding the fact that the use of the latest technologies including blockchain technology will put them ahead of their competitors. Blockchain technology has many uses that are bound to boom in the next few years, particularly in the cryptocurrency industry.

Despite the challenges involved with dealing with digital assets including possible scams and cyber attacks, they promise to revolutionize our financial system in a great way.

Notably, WCA crypto IPO has coincided with the ongoing crypto volatility that has seen most assets rally in the past few days. The increased volatility is an aspect that can bring unprecedented chaos during an IPO if not properly managed. However, thanks to the development of stablecoins, the volatility issue was completely eradicated.

The stablecoin industry, which has tremendously grown in the past few months has experienced a huge demand globally. According to the metrics provided by CoinGecko, the stablecoin industry has a market capitalization of $24,816,940,078 with its past 24-hour trading volume at $78,736,340,870. Notably, its past 24-hour trading volume is much higher than Ethereum and Bitcoin trading volumes.

This is a clear indication of the huge demand for stablecoins in the global market.

Altcoin News, Business News, Cryptocurrency news, IPO News, Market News
Steve Muchoki

A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies. Mythology is my mystery! "You cannot enslave a mind that knows itself. That values itself. That understands itself."

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