Cross-Stratum Mutual Community Asia (CSMC), a UK-based techno-finance startup, has announced its plans to release a new cryptocurrency – the Cross-Stratum Coin (CSC).

The company statement said that the cryptocurrency aims to generate donations to global charities while being traded and is expected to be launched in the first quarter of 2017. This makes CSC different from most of the cryptocurrencies currently on the market.

"It has been a long and anticipated plan for us at CSMC Asia to want to partake in the cryptocurrency market. It came across to us that in order for one (coin) to eventually successfully sustain and create value, a huge user-base is of paramount importance and what can be better than creating (its value and user-base) via a charitable movement like Pay-It-Forward? We expect the CSC to take the market by storm when it is launched," CSMC Asia's spokesman explained, quoting the example of an American movie Pay-It-Forward.

The CSC cryptocurrency will be available to trade in the Yayasan CSMC Asia platform. The CSC global delivery plan is carried out by means of a global-assistant movement with a Malaysian foundation as a key platform and partner where it will govern the deliverance of its plans. The global assistance movement – Mutual Community will award participants with a monetary reward as they circulate assistance among themselves.

Like all other cryptocurrencies, CSC is also based on the fundamental blockchain technology, transparency, swiftness and anonymity. Yayasan CSMC Asia has funded many researches that have contributed in a way in the development of the CSC cryptocurrency.