In an interview with Moneycontrol, Praveen Kumar, Chairman and CEO of the company said it is coming up with its own blockchain, named Belrium, in the month of September, the token for which will be called BEL.

Malaysia-based bitcoin exchange Belfrics is soon to come out with an initial coin offering (ICO).

In an interview with Moneycontrol, Praveen Kumar, Chairman and CEO of the company, said it is coming up with its own blockchain, named Belrium, in the month of September, the token for which will be called BEL.

Kumar said that the blockchain will have an inbuilt KYC system and it will be similar to Ethereum as it will be based on smart contracts.

However, he refrained from sharing the size of the ICO at the moment.