Benzinga | Nov 19, 2021 08:33AM EST

Phunware Reports Began Processing Initial Issuances Of PhunCoin

Phunware, Inc. (NASDAQ:PHUN) (the "Company"), a fully-integrated enterprise cloud platform for mobile known as Multiscreen-as-a-Service ("MaaS") that provides products, solutions, data and services for brands worldwide, announced it will begin processing initial issuances of PhunCoin (PHCN), which will be available for trading exclusively on Securitize, the first blockchain-enabled transfer agent registered with the United States Securities and Exchange Commission (SEC).

Anyone who already invested in PhunCoin through previous exemptions such as Regulation D and Regulation CF will receive specific instructions on how to consent to their PhunCoin issuance, set up a Securitize account, complete requisite screening requirements and receive their PhunCoin. Following these initial distributions, Phunware will still reserve approximately 72% of the maximum available supply, which is 100 billion PhunCoin. One PhunCoin is currently valued at $0.008.

"As we work to commercialize a truly decentralized data economy, we're thrilled to begin building a market for one of the world's first regulated cryptocurrencies designed for mainstream adoption," said Alan S. Knitowski, President, CEO and Co-Founder of Phunware. "PhunCoin is an important first step towards ensuring consumers not only control their data, but also are compensated fairly when their data is purchased by brands."

PhunCoin is an innovative cryptocurrency uniquely positioned for mainstream adoption because it is leveraging the global reach and distribution of a NASDAQ-listed company that specializes in consumer engagement and monetization. Founded in 2009, Phunware has developed mobile ecosystems for some of the world's most recognizable brands. Phunware has also generated over 15 billion Phunware IDs tied to consumers all over the world and developed a customer data platform ("CDP") that manages approximately one billion monthly active devices when operating at scale.

Managed by PhunWallet, which is available on Apple App Store and Google Play, PhunCoin works alongside PhunToken in support of a dual token economy that seeks to blockchain-enable Phunware's CDP. While PhunToken is now available for purchase here, PhunCoin will only be available pursuant to approved regulatory exemptions.

Click here to learn more about how PhunCoin is working to power a new data economy and empower consumers to finally own their data. Contact PHCN-support@phunware.com with any questions.