HotNow Updates its App and Lists HOT on Stellar Distributed Exchange Acquires Proteus Technologies to offer unified digital marketing platform services

Wednesday 24 October 2018 10:10
HotNow, a Thai-based digital marketing platform with the first cryptocurrency that enables a gamified online-to-offline economy for emerging Asia, is moving forward with the latest version of the HotNow application, which features the built-in HOT Wallet, used to store HOT tokens. HotNow has also acquired Proteus Technologies to strengthen its technological platform for exponential business growth. The move is in line with the overwhelming interest in HotNow's ICO (initial coin offering) of over 39 million US dollars. HotNow is now proceeding with its registration with the Thai SEC (Securities and Exchange Commission) as a digital asset business operator, and is confident its HOT token will gain the trust of investors on the Stellar Distributed Exchange.

Ms. Nithinan Boonyawattanapisut, CEO & Founder of HotNow (Thailand) Co., Ltd., said that HotNow is ready to level up its service by upgrading the latest version of the HotNow application, which comes with the built-in, fully-developed HOT Wallet. "Our application offers a user-friendly experience and strong security for both users and merchants, based on a gamification platform that supports HotNow's gamified network to enhance the user experience and make the flow of HOT token in the system more efficient. Our new and enhanced network will allow HOT tokens to access activities and various features on the network. HotNow will also offer HOT Tokens to users as a reward for their engagement, contributing to the growth of the network," she said.

To meet target users' expectations, HotNow not only continuously improves its platform and functionality, but also assesses regulatory risks for cryptocurrencies in other markets to identify legal frameworks similar to the one used by the Thai SEC. This will open up opportunities where HOT tokens can be traded on other leading trusted markets throughout Southeast Asia. HotNow is also paving the way for HOT's regional expansion once the company launches an online game that will enable HOT tokens to become available worldwide.

"In addition to making this proactive move, HotNow has strengthened our technology offering by acquiring Proteus Technologies and has merged the operation into HotNow to build a unified digital marketing platform accessible to all retail businesses while optimizing the value of money for consumers. This will enhance our capacity for future exponential business growth. HotNow is also working with potential partners to expand our reach in Southeast Asia to better meet the demands of various customer groups. Our users can now convert HOT to XLM on the Stellar Distributed Exchange, then convert the XLM to other cryptocurrencies or fiat currencies at other exchanges as they wish," added Ms. Nithinan.

From December 2017 to July 2018, HotNow raised 39 million US dollars in funds (or 751,805,521.69 RHTKN) through HOT from both local and overseas investors. To primarily reduce excess supply, HotNow will burn just under 2,248,000,000 HOT, valued at approximately 224 million US dollars. The company plans to use the funds raised for: i) User and merchant acquisition to expand the HotNow eco-system; ii) Technological development to add functionality and utility to the HotNow platform; and iii) Strategic acquisitions to help the company accelerate its first and second plans.

The reserved HOT can be swapped for HOT at https://www.hotoken.io/news3.html. People who do not yet have a HOT Wallet can download it via the HotNow application from the Google Play Store or the Apple App Store. The first activation of the HOT Wallet will be rewarded with 10 HOT Tokens, which can be redeemed for promotions on goods and services from participating stores.