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Mon 2 Sep 2019 08:56 AM

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Abu Dhabi's Sheikh Khaled backs Manny Pacquiao's 'personal cryptocurrency'

Abu Dhabi's Sheikh Khaled bin Zayed Al-Nahyan and ex-Liverpool and England footballer Michael Owen are investors in the Singapore-listed cryptocurrency

Abu Dhabi's Sheikh Khaled backs Manny Pacquiao's 'personal cryptocurrency'
WBA welterweight champion Manny Pacquiao launched the “Pac” token at a free concert in Manila on Sunday.

WBA welterweight champion Manny Pacquiao has launched a Singapore-listed cryptocurrency with ex-Liverpool star Michael Owen and Abu Dhabi royal Sheikh Khaled bin Zayed Al-Nahyan as investors.

The “Pac” token was launched at a free concert in Manila on Sunday – in which he performed alongside his wife for the first time - and will allow fans to buy merchandise and interact with the 40-year old boxer on social media.

The cryptocurrency will be listed on Singapore’s Global Crypto Offering Exchange (GCOX).

According to GCOX, it allows celebrities to create “personal cryptocurrencies” – of which Pacquiao, 40, is the first.

Other celebrities that have announced plans to launch personal cryptocurrencies include Danish tennis ace Caroline Wozniacki and American singer Jason Derulo.

Previously, GCOX has said that with enough coins listed on the platform, it could become “the world’s first authoritative popularity index”.

“We are not here to raise a lot of money but to build an ecosystem,” GCOX founder and CEO Jeffrey Lin was quoted as saying by Reuters.

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