Omise, a Thailand-based company that provides Stripe-like payment features in Japan and Southeast Asia, plans to raise money by using cryptocurrencies like Bitcoin and Ethereum through ICO(Initial Coin Offerings).

Omise is planning to raise over $19 million from its coin sale- OMG(Omise Go) that would power a network to transfer money and make payments without the need for a bank account or high service fees.

Kik, a messaging app launched its own currency as a basis for a developer community and raised over $120 million from its investors with 300 million registered users, making it the most established company to enter in ICO network.

The tech industry, Omise though has already raised over $20 million from its investors like SBI, Sinar Mas and Ascend Group and is likely to give Kik a tough competition as it is taking a more conventional path with its plan to develop a wholly decentralised payment platform — Omise Go.

If sources are to be believed, Omise is set to hold the token sale on June 7 no further sale is planned to avoid dilution with 65% of the coins open for sale.

Omise plans to keep 20% for future costs and expansion and another 10% for the team and the remaining 5% will be set aside to be given to people who already own Ethereum’s Ether coins for promotional purpose.