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Philippine boxing legend, Manny Pacquiao, has joined the list of celebrities to launch a cryptocurrency.

According to a release by AFP, Mr Pacquiao will unveil the “PAC Token” later this year. The main aim of the token is to connect fans with merchandise stores set up by the Filipino boxing star.

The project is run in cooperation with Singapore-based Global Crypto Offering Exchange (GCOX), a company which Mr Pacquiao has invested in.

Commenting on the project in an interview with the AFP, Pacquiao said: “It can be a way to be in touch with the fan base and (there are) a lot of things we can do with this cryptocurrency”.

This announcement is following up on recent news that the Philippines have submitted a proposition for legislation that would impose penalties for illegal activities related to cryptocurrencies.

Mr Pacquiao, who also happens to be a member of the Philippine Senate has previously expressed his support for cryptocurrency regulation.

Image From Shutterstock

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