Pacquiao launches his own cryptocurrency – PAC tokens – during Manila concert

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Philippine boxing legend and politician Manny Pacquiao launched his own cryptocurrency, ‘PAC’ tokens, with a concert in Manila on Monday.

The ‘Pac’ was initially created to allow fans to buy exclusive Pacquiao merchandise but there are plans now for broader use.

In this photo taken September 1, 2019, Filipino boxing icon Manny Pacquiao (C) performs during a free concert to coincide with the launching of his own cryptocurrency “Pac Token” at a sports centre in Manila. (Photo by MARIA TAN / AFP)

The virtual currency is set to be listed on and distributed by the Singapore-based Global Crypto Offering Exchange (GCOX) later this year.

Pacquiao, 40, is considered a national hero by many as his athletic feats have put the Philippines on the boxing map.

His rags-to-riches rise from high school dropout to millionaire champion is a source of inspiration in a nation mired in poverty.  (Agence France Presse)

In this photo taken September 1, 2019, Filipino boxing icon Manny Pacquiao performs during a free concert to coincide with the launching of his own cryptocurrency “Pac Token” at a sports centre in Manila. (Photo by MARIA TAN / AFP)
In this photo taken September 1, 2019, Filipino boxing icon Manny Pacquiao (3rd L) raises a toast with (L-R) Arnord Vegafria, Pacquiao’s business manager, Jeffrey Lin, CEO of GCOX, Sean Wong, business development head of GCOX, plus event hosts RJ Ledesma and Mauren Montagne, during the launching of his own cryptocurrency “Pac Token” at a sports centre in Manila, where he performed at a free concert. (Photo by MARIA TAN / AFP) / “The erroneous mention[s] appearing in the metadata of this photo by MARIA TAN has been modified in AFP systems in the following manner: [Arnord Vegafria] instead of [Arnord Vegafrancia]. Please immediately remove the erroneous mention[s] from all your online services and delete it (them) from your servers. If you have been authorized by AFP to distribute it (them) to third parties, please ensure that the same actions are carried out by them. Failure to promptly comply with these instructions will entail liability on your part for any continued or post notification usage. Therefore we thank you very much for all your attention and prompt action. We are sorry for the inconvenience this notification may cause and remain at your disposal for any further information you may require.”