Announced today, the Accounting and Corporate Regulatory Authority (ACRA) has approved Ergo Foundation Ltd as a corporate entity in Singapore. With this news, the Ergo Foundation establishes a clear pathway towards forming new official partnerships and listings on Tier 1 exchanges.
The Ergo Foundation has been working towards incorporation during this last year as a necessary step in legitimizing the ongoing work of the foundation and treasury. There are several official partnerships already in development and the establishment of the company creates a vehicle for the formalization of these collaborations.
As an incorporated entity, Ergo Foundation Ltd can formally pursue the legal opinions necessary for Tier 1 exchange listings. Coupled with the recent engagement of Kairon Labs as a market maker for ERG, Ergo is positioning itself to be increasingly active in the cryptocurrency industry going forward.
Ergo is the inevitable next step in the evolution of Proof of Work blockchain technology, designed for creating and implementing powerful, efficient, and highly secure financial contracts. It utilizes the best aspects of Bitcoin and Ethereum by using Bitcoin’s UTXO model while implementing the smart contract functionality of Ethereum.
Ergo’s innovation provides an enhanced crypto-economy, aimed at providing social and financial goods for those who value privacy, technical reliability, and investment opportunities. The products Ergo creates position it as a leader in addressing the issues of poverty and accessibility in regions where there is limited or no access to modern financial products and services.
About the Ergo Foundation
The Ergo Foundation oversees the business aspects of the Ergo Platform. The Foundation consists of several board members who are tasked with ensuring that the projects built honor and uphold the initial inspirations for the creation of Ergo. They are responsible for the Ergo Treasury as well as the disbursement of funds to further develop the Ergo Ecosystem. For further information, please see the Ergo Foundation webpage.