The UAE royal family has approved the Crypto Price Index (CPI) project, which creates a crypto analog of the Dow Jones index based on blockchain technology. The solution will be available to residents of Eastern Europe.
The new Crypto Price Index platform has partnered with Emirati royal family members, who supported the project and purchased 15% of it. This support will materialize in the form of direct participation in the ICC Council and will provide international recognition within the blockchain industry.
Sheikh Abdullah Bin Rashed Al Sharqi from the Fujairah family, as well as Khalfan Saeed Al Mazrouei, the former undersecretary of the UAE President’s Private Office became the shareholders of the project.
Crypto market – dynamic and volatile
This is the first court in which the royal family recognizes a decentralized financing platform and joins as shareholder and investor.
Herbert Law, CEO of IPC, mentioned that such a partnership will contribute to the accelerated global expansion of decentralized financial products. He said:
“I am pleased to announce that the CPI has been supported by such strong partners as the Royal Family members in the Emirate, who share the philosophy of our project. With their help, the CPI has every chance to become a unique point of reference for the cryptocurrency sector. “
Representatives of the royal family believe that a cryptocurrency market and a dynamic and volatile market needs solutions such as the CPI, which seeks to become a reliable tool for monitoring the industry.
The CPI index will run on the blockchain and collect data on the 200 most important cryptocurrencies to provide more accessible entry points for both small and large investors. It is one of the first solutions that will allow investors to evaluate crypto markets by using an API or by reading the CPI blockchain instead of individually examining the entire market manually.
Expansion in Eastern Europe
The Middle East is not the only region where the CPI is active. The company has also attracted interest from investors from the US, Asia and Eastern Europe.
Iosif Erdos, development director for Eastern Europe, explained that the project intends to expand its presence in Romania, Moldova and Hungary, where digital currencies are now widespread.
“Romania is actively involved in the process of mass distribution of cryptocurrencies. According to recent data, 12% of the population owns cryptocurrencies, while business people use digital money when working with domestic and foreign customers.
Meanwhile, residents of Hungary and Moldova are actively using the services offered by crypto exchanges and crypto vending machines, and the number of cryptocurrency transactions is increasing ”,
said Erdos.
At this time, the CPI project is running an initial round of funding and is planned to be launched later this year in partnership with plantfoma exchange ZBX.
Dave Pulis, CEO of ZBX named the CPI
“A very necessary vehicle that will improve our product offerings for both institutional investors and retail customers around the world.”
INFORMATION ON THE SITE DOES NOT REPRESENT FINANCIAL ADVICE. FOR ANY IMPORTANT FINANCIAL DECISION, CONSULT AUTHORIZED PROFESSIONALS. MORE INFO YOU FIND THEM IN TERMS AND CONDITIONS
Related posts:
GitHub Libra Code draws criticism from users 
Tipping on Reddit and Vimeo in BAT introduced by Brave 
Newcomers to the crypto market have to pay attention to scams and pump and dumps 
Hardly any growth in downloaded crypto apps, despite tripling price bitcoin 
Bloomberg accepts Bitcoin – says cryptomonads are here to stay 
The Central Bank can release their cryptocurrencies earlier than expected
