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

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.

GCOX’s #PacTokens is officially launched! Here’s a toast to Pac Tokens and getting a step closer to events and concerts by the man himself, Manny Pacquiao!

Register your interest for Pac Tokens at: https://t.co/ezrzwctzB8 now!#GCOX #GCOXExchange #TeamPacquiao #PacTokens pic.twitter.com/LHn9Mos03a— GCOX (@GCOX_Official) September 1, 2019

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.

That’s a wrap!

We hope all you fans have enjoyed the spectacular night of acts and trust us, this is just the start of the #PacTokens journey! Get closer to Manny Pacquiao and register at https://t.co/ezrzwctzB8 now!#GCOX #GCOXExchange #TeamPacquiao pic.twitter.com/OgiILgqFv5— GCOX (@GCOX_Official) September 1, 2019

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.