Manila: Philippine boxing icon Manny Pacquiao said yesterday he would launch a cryptocurrency to connect with fans, but also backed the regulation of virtual currencies.
Pacquiao, one of the world’s most successful boxers, is the latest athlete to launch a virtual currency, following Floyd Mayweather and former England striker Michael Owen.
The Singapore-based Global Crypto Offering Exchange (GCOX), in which Pacquiao has invested, said it would unveil the “PAC Token” later this year, which would allow fans to buy the Filipino star’s merchandise and interact with him via live-streaming. “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,” Pacquiao said.
Forbes magazine last year listed the boxer – once dirt-poor – as the world’s 20th highest-paid athlete of all time, with career earnings of $510 million.