Following the launch of Patricia token (PTK) issued to clients to handle customers’ debt by Patricia, a Nigerian cryptocurrency change, the chief govt officer of the change (CEO), Fejiro Hanu, has confirmed that clients now have the choice to transform their owed funds into Patricia shares.
In keeping with an announcement from the CEO, this course of kinds an integral part of the agency’s technique for fundraising and reorganizing its money owed. In anticipation of the agency’s upcoming app relaunch and in preparation for its fundraising initiative, it’s affording its customers the chance to rework their debt tokens into convertible notes at a good low cost in Patricia.
He additionally revealed that these shares might be managed by a Securities Alternate Fee (SEC)-licensed trusted third-party trustee to make sure full transparency.
Nevertheless, this feature doesn’t appear to agree with some agitated customers who took to a Patricia affiliated outlet to make their case heard however met nobody. In a video making rounds on X social platform (previously referred to as Twitter) the agitated customers are seen hanging across the empty constructing and making statements reflecting their dissatisfaction with the state of affairs of issues.
In order that Patricia bitcoin man took individuals’s cash and ran away?
Individuals are at their workplaces rn asking for his or her cash and all over the place is locked. Omo! pic.twitter.com/aZV70U8niD
— Sabi Radio (@TheSabiRadio) October 18, 2023
Talking with Cointelegraph, Hanu said that the video content material is deceptive and mischievous because the agency runs a full distant construction. He said that the workplace within the video is an innovation hub arrange and introduced in 2022, to supply free working areas to builders and crypto fanatics as Patricia doesn’t actively function from that workplace.
When requested in regards to the present answer for customers who’re nonetheless unable to withdraw their funds, Hanu said that the Patricia app that’s about to relaunch is presently at Beta testing, and invitations have been prolonged to clients to expertise the app earlier than opening to the general public. Few clients who opted for the testing course of are presently getting their PUTX redeemed.
Associated: Nigerian gov helps AI initiatives with $290K in grants
In keeping with Hanu, Patricia customers have additionally notified clients of the plan to redeem their balances in batches as quickly because the agency reopens.
This improvement follows the corporate’s earlier disclosure of a safety breach leading to fund losses in Could 2023. Regardless of asserting that buyer funds remained unaffected, platform customers have confronted ongoing difficulties in accessing their funds since April.
Journal: Are you able to belief crypto exchanges after the collapse of FTX?
