New Dubai shipbroker and logistics player Persian Sea Shipping Lines (PSSL) is plotting an issue of cryptocurrency to speed up transactions.
The tanker and bulker chartering shop said it is entering the sector with a PSSL token pre-sale in February.
A total of 75m tokens will be issued, with 25m allocated in the initial liquidity round and the same amount being held as an internal reserve.
The advisory board will received 2m tokens, with the rest going on further staff awards and marketing.
PSSL said token holders will be connected to its services such as chartering and bulk sea transport.
The pre-sale will open on 1 February and will be available on the Unicrypt platform. The company is aiming to sell at least 250,000 Binance US dollars (BUSD), up to a maximum BUSD 600,000.
BUSD is currently trading at the same level as the regular dollar.
“The tokens are backed by the company’s extensive experience in the maritime industry and offer great potential for investors,” the company said.
The PSSL has worked with German blockchain auditor SolidProof for the launch.
Founded in 2022
“This project looks promising as one of the most secure token offerings available today,” the company said.
“The round will allow a limited audience to gain early access to the PSSL token,” PSSL added.
The company was set up in 2022 but its ownership is not clear. PSSL has been contacted for further information.
The PSSL website says it is a “rapidly growing enterprise with experienced personnel in the shipping industry”.
The broker will soon begin accepting crypto payments in PSSL. This strategy will allow users to make payments quickly and securely through blockchain, it said.
BUSD is a stablecoin issued by Binance and Paxos. It aims to provide a more stable cryptocurrency alternative for traders and investors who are looking to avoid the volatility of the digital asset market.
