When it comes to currencies, each country has its own. However, with decentralized nature of cryptocurrencies, it seems that just about anyone can launch their own version of it. In fact, boxing legend and champion Manny Pacquiao has recently announced his own cryptocurrency called Pac.

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The cryptocurrency will be listed on Singapore’s Global Crypto Offering Exchange where it will be backed by Pacquiao himself, football legend Michael Owen, and Abu Dhabi’s Sheikh Khaled bin Zayed al-Nahyan. Pacquiao will not be the first celebrity to back cryptocurrency. In the past, we have seen other celebrities get involved, such as Gwyneth Paltrow, Paris Hilton, Snoop Dogg, and Floyd Mayweather Jr., just to name a few.

However, it has been noted that this is the first time that a cryptocurrency is actually based on the celebrity themselves. The cryptocurrency will be used to buy merchandise related to Pacquiao as well as to interact with the boxer on social media. Pacquiao is expected to be joined by other celebrities who are also planning to launch their own cryptocurrencies on GCOX.

These celebrities join companies who have also announced their own cryptocurrencies. Telegram is said to be forging ahead with their own Gram cryptocurrency, while Facebook also has plans of their own.

Filed in General. Read more about . Source: reuters

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