ICN Launches $ICNT, latest investment signals $470 million valuation

Associated Press

03-07-2025

ZUG, Switzerland, July 3, 2025 /PRNewswire/ -- Impossible Cloud Network launches token on Bybit, Binance, Kraken, and other major exchanges following $34 million ecosystem raise
Impossible Cloud Network (ICN) – a decentralized cloud services provider– is today announcing the launch of its $ICNT token through Tier 1 centralized exchanges Bybit, Binance, Kraken, Gate.io, Bitget, and more.
The token launch follows a recently announced investment (valuation: $470 million) from NGP Capital, a deep tech fund that backed Xiaomi and Helium.
ICN is the first decentralized cloud provider to match and surpass centralized hyperscalers in latency, availability, and performance. Its service is live and operating a fully open, multi-service, permissionless, and composable cloud infrastructure that integrates storage, compute, and networking at scale.
The token listing comes just weeks after ICN attracted a substantial valuation of $470 million from Nokia-backed investor NGP Capital, which joined 1kx, No Limit Holdings, Protocol VC, HV Capital, and more in investing a total of $34 million into ICN.
The Switzerland-based cloud network has substantial traction inside its ecosystem, handling over 23,000 cloud requests per second from its 1,000+ enterprise customers. This makes ICN one of the biggest revenue-generating decentralized physical infrastructure networks (DePINs) in the industry and places it in pole position to win the AI infrastructure race.
ICN's CEO and co-founder is Kai Wawrzinek, a seasoned, billion-dollar company founder who successfully led his project, Goodgame Studios, to NASDAQ unicorn status in 2017.
Commenting on the launch of $ICNT, Wawrzinek says: 'As a decentralized cloud provider, ICN is successful because it meets a genuine, growing need. ICN will win the decentralized infrastructure race — because we control the data layer. Once compute goes live, we'll unbundle the internet."$ICNT will play a pivotal role in ICN's ecosystem, allowing anyone to participate in the network's growth by earning rewards from HyperNodes. $ICNT is used both for provisioning hardware capacity and for staking to secure cloud workloads. This ties the token to real-world infrastructure and the strong and growing demand that ICN's ecosystem is experiencing.
ICN is riding a confluence of multiple strong tailwinds in the cloud industry. These include incredible demand for AI, associated hardware shortages, and an increasingly urgent need for sovereign cloud solutions apart from those offered by US hyperscalers.
Combined, these drivers are calling for a new foundational layer for the next generation of the internet that can challenge the dominance of centralized tech giants – a layer ICN is pioneering.
About Impossible Cloud Network (ICN)
Impossible Cloud Network (ICN) is building a permissionless, open cloud network to rival Big Tech giants like Amazon Web Services (AWS) and Google. With resilient, high-performance decentralized cloud services, ICN is laying the foundation for a scalable, secure, and community-driven global cloud that supports enterprise, AI, gaming, applications, and end-users. With real-world adoption already generating million-dollar revenue and a vision for 200+ decentralized cloud services, ICN offers a true alternative to monopolistic hyperscalers.
About ICN: https://www.icn.global
Full information on $ICNT : https://www.icn.global/exchanges
$ICNT on Bybit: https://www.bybit.com/en/price/impossible-cloud-network-token/
Contact
Rebecca Jones
Block3 PR
[email protected]
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SOURCE Impossible Cloud Network