Blockchain Startup Jibrel Network launches token sale

Jibrel Network, a blockchain platform for asset-backed tokens, has announced the launch of the token sale which will be open to investors until January 26 2018.

Jibrel Network, which aims to bridge the gap between traditional financial infrastructure and the crypto economy, has garnered over $3.2 million in funds from regional and international investors such as TaaS Fund, Tech Squared, Aurora Partners, Arabian Chain during the public token presale in September 2017.

Talal Tabbaa, Co-Founder of Jibrel Network commented on the token sale “It is a great pleasure being part of this growing blockchain eco-system, and I am confident that this technology will become an integral part of business environment in the region and across the globe in the coming years.”

He added “Our focus is providing an open source infrastructure where users, investors and brokers can tokenise their assets, and benefit from the advantages of using Blockchain technology – without having to take on risks associated with cryptocurrencies.”

On the Jibrel Network, asset-backed tokens are called CryptoDepository Receipts (CryDRs). These ‘Smart Tokens’ can be used for remittances, global payments, trading, and hedging. Earlier this month, the company launched its first product, the jWallet, an enterprise-grade crypto wallet solution that is said to be “highly reliable and user-friendly without sacrificing user security.”