Boxing champ Manny Pacquiao launches cryptocurrency

WBA super welterweight boxing champion Manny Pacquiao launched his much-anticipated cryptocurrency tokens – called Pac – on Sunday during a free concert in Manila, according to Reuters.

Coin Rivet reported on the upcoming launch of the Pac tokens last year. At the time, it was believed the tokens would be available by the end of 2018 or the first quarter of 2019.

The Pac tokens will enable Pacquiao’s fans to purchase his merchandise and interact with him on social media.

During the free concert in Manila, Pacquiao performed songs from his own album, which consists of cover versions of popular love songs and has sold thousands of copies.

It was during this event that the boxing champion officially launched the Pac tokens.

Pacquiao, 40, has had quite the year, having defeated Keith Thurman to win the WBA super welterweight title while also working as a Philippine senator.

The Pac token will be listed on Singapore’s Global Crypto Offering Exchange (GCOX) and lists both Pacquiao and footballing legend Michael Owen as private investors.

Sheikh Khaled bin Zayed al-Nahyan, a member of Abu Dhabi’s ruling family, is also listed as a private investor.

Reportedly, Michael Owen, tennis star Caroline Wozniacki, and singer Jason Derulo also have plans to launch crypto tokens with GCOX.

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

While details still appear scarce, it will be interesting to see whether the likes of Owen, Wozniacki, and Derulo do in fact launch their reported crypto projects, and whether 2020 will see a new wave of hype-driven celebrity cryptocurrencies.

Interested in reading more Manny Pacquiao-related stories? Discover more details about the Pac token here on Coin Rivet.