Manny Pacquiao to launch his own cryptocurrency
The eight-division world champion partnered with Global Crypto Offering Exchange to launch the PAC Token.
Philippine boxing legend Manny Pacquiao said on Wednesday that he would launch his own cryptocurrency, the PAC Token.
The 39-year-old pugilist is the latest athlete to launch a virtual currency, following the steps of Floyd Mayweather and former England striker Michael Owen.
PAC Token
Pac-Man partnered with the Singapore-based Global Crypto Offering Exchange (GCOX), which said the PAC Token will be unveiled later this year.
The upcoming cryptocurrency will allow fans to buy Pacquaio’s merchandise and to interact with him via live-streaming.
'It can be a way to be in touch with the fan base and (there are) a lot of things we can do with this cryptocurrency,' the boxer and Philippine politician told AFP.
Cryptocurrency regulation
Asian governments are taking a more critical look at cryptocurrencies, since Coincheck, an online bitcoin wallet and exchange service headquartered in Tokyo, was hacked in January, making off with nearly $500 million in digital tokens.
Philippine lawmakers have proposed legislation that would impose harsh penalties for crimes committed using cryptocurrencies.
Pacquiao, a member of the Philippine Senate, backed the regulation.