US Startup Jet Token is looking to raise up to $10 million in a bid to launch their cryptocurrency leasing marketplace where travelers can pay for private jet charters using ERC20 tokens.
“Jet Token accepts cash or blockchain payment for private air travel. We offer our own Honda Jets for member service in the Southwestern US, or book any one of thousands of jets through our app – including the largest open fleet of private aircraft in the country. Need to mix commercial travel and private travel on the same itinerary? Through our partner program, we can book it for you.” Their website states.
Founded in July 2018, Jet Token, would compete with TurnKey Jet, Inc, a similar service that has managed to secure a no-action letter from the SEC this April, while Jet Token decided to pursue more other forms of fundraising for its raise.
A Jet Token filling with the SEC read, “We intend to operate in full compliance with the SEC’s guidance in the TurnKey Jet, Inc. No Action Letter dated April 3, 2019, and any future refinements to that guidance in the future, so that U.S. federal securities laws will not apply to the offer, sale and any resale of Jet Tokens,”.
“negotiated terms with Honda Aircraft Company for 4 Honda Jets and with Gama Aviation for the maintenance, management, and operation of our leased aircraft.”.
The jet Token company has outlined that it has already launched the IOS app and is planning to ship in this initial version of the app with built-in crypto payments by the end of this year.