Scotcoin — the “ethical crypto” — announced it will list on a “major” cryptocurrency exchange in February 2025 which will see the project valued at £200 million on its market debut.

“The Scotcoin Project (TSP) Community Interest Company has exchanged contracts with a ‘tier 1’ exchange and will initially be paired with Tether – the world’s most liquid and largest dollar-denominated stablecoin,” said Scotcoin.

“The listing will take place within a month, subject to market conditions, and the selected exchange – the name of which will be announced immediately prior to listing – has an average daily trading volume of around $3 billion, placing it in the global top 20.

“Funds raised in the listing will be used to recruit a full-time management team and further develop an ecosystem of partner organisations which accept Scotcoin as a means of payment for a range of goods and services.

“The token is already held by around 6,000 individuals worldwideand a growing number of third sector organisations and charities.”

TSP’s initial focus is on the provision of food, clothing, and shelter, building on the numerous initiatives supported by Scotcoin since its inception.

TSP will distribute Scotcoin directly and via approved agencies to third sector organisations and individuals in need.

Temple Melville, CEO of TSP, said: “Our objective is to use the medium of crypto to help create a more equitable world and listing will take Scotcoin to the next stage of its development.

“With the money raised, we will be able to dedicate a team to signing up preferred partners offering a range of goods and services focussed on food, clothing, and shelter.

”These partners will accept Scotcoin, providing them with some value rather than having to give away their products and services for nothing.”