The initial coin offering (ICO) and proceeds will all be managed by Crown and Country Magazine, which launched The Royal Coin (symbol: “ROYL”).
Any of the proceeds from the ICO will be given to three charities close to the couple. The Invictus Games, Sentebale and The Royal Foundation were all picked.
According to Crown and Country, the currency is a way to celebrate a modern wedding.
“Prince Harry being as modern as Royals come, we have decided to celebrate and commemorate this great international event by creating a modern and incomparable way for the people of the world to participate in this very historic Royal Wedding. With this, we have enabled the citizens of the world by giving them the ability to present Prince Harry of Wales and Ms. Meghan Markle with a wedding gift.” said the magazine.
The British Monarchist Society and Foundation have officially approved the coin.
A new underwriting service, The ICO Rocket, launched ROYL as one of its first coins through its new system of vetting new ICOs.
Founder of The ICO Rocket Shahar Namer said in a press release: “The Royal Coin is the first ever of its kind. It not only celebrates a marriage but also channels cryptocurrency toward three noble causes.
“As exclusive advisors to the coin, we are delighted for its launch.”
The sale of ROYL was launched yesterday, 2 April and will finish on 31 May 2018. As of 1 June, the coin will appear on public exchanges. The full supply of ROYL is 50 million with 500 ROYL being equal to 1 ETH.
Prince Harry and Meghan Markle will be wed at St George’s Chapel, Windsor on 19 May. Recent estimates expect over 100,000 people to ascend on the town to view the wedding in person.