OmiseGo Regains Its Price After Backing from Thai Ministry of Finance

OmiseGo Regains Its Price After Backing from Thai Ministry of Finance

The price of the fairly new digital currency OmiseGo (OMG) has been on a downward trend as of mid-August 2017, and ultimately recuperated after Thai Ministry of Finance showed support.

The company is operating in Asia, notably in such countries as Thailand, Japan, Singapore and Indonesia. Amid the company’s investors are Golden Gate Ventures and SBI Investment.

Omise’s prominent list of advisors include industry experts such as Vitalik Buterin creater of the well-know Digital Currency Ethereum (ETH), Joseph Poon, Gavin Wood and Vlad Zamfir.

The cryptocurrency has once reached an all-time high of $9.3 per token recently, but this came down to $7.9 and has recently recovered to $8.02, as of press time.

The Omise team Initiated the OmiseGo platform with an ojbective to unbank the banked individuals rather than banking the unbanked. The platform aims to grant real-time peer-to-peer (P2P) value exchange and payment services to participating customers.

It uses Ethereum Blockchain in giving its financial services to clients around the world and can be accessed by any user as it doesn’t not require a customer’s bank account to conduct business.

Just recently, Omise has successfully completed its digital currency initial coin offering (ICO). The company has raised $25 mln in the crowd-sale that paved the way for the introduction of the OmiseGo token.

This token is utilized in a considerable number of services currently offered in the OmiseGo Blockchain, including those in the company’s decentralized exchange, liquidity provider and asset-backed gateway.

The firm’s market cap has elevated to $777 mln as of late.