Filipino boxer, Manny Pacquiao, has launched his own cryptocurrency: the PAC Coin.
The currency was launched at a free concert in Manila and can be used to buy the boxer’s merchandise and interact with him on social media.
Pacquaio has inspired fellow celebrities, tennis player Caroline Wozniacki and singer Jason Derulo, to release their own cryptocurrencies through GCOX.
The PAC Coin has a circulating supply of 7.71bn.
What does this mean?
Celebrities are fast entering not just cryptocurrency, but the world of FinTech in general – Snoop Dogg backs Swedish online bank Klarna while Will.i.am is on Atom Bank’s board of advisors.