Bittrex crypto exchange is hosting its first token sale in just two days, on March 15, dubbed an Initial Exchange Offering on its Malta-based digital asset trading platform named Bittrex International and we read more about this announcement in our latest cryptocurrency news.
The announcement was published in an official press release that was published on March 11. Bittrex International operates on the European market and has a crypto regulatory framework that was initially created in Malta. According to the press release, the initial exchange offering (IEO) will start this Friday, March 15, and the users will be able to use their bitcoin (BTC) in order to buy XRD tokens that are developed by Raid- a gaming data blockchain project.
The press release notes that Raid is a blockchain-based project that rewards all the gamers who are sharing data thus being an important part of the tokenized ecosystem because this way they are enhancing marketing and business growth but also, they are contributing for further improvements and ideas for other gaming companies.
Bill Shihara who is the CEO of Bittrex and its co-founder, says that the initial exchange offering on the platform will make possible for international token investors to back new blockchain projects ‘’with the peace of mind that comes from Bittrex International regulated in Malta.’’ The crypto giant has given further details about the IEO which will reportedly end when a hard cap of around 17 billion XRD or $6 million will be reached.
Bittrex is still among the top 50 largest crypto exchanges around the world according to the daily trade volume, reaching about $73 million in trades until this day. Also, Bittrex International interest in token sales comes after another crypto giant popular in the industry Binance, performed a successful token sale on the Launchpad which hosted extremely high-profile token sale for the BitTorrent token back in January. The TRON-based token sale reached about $7.1 million dollars when more than 50 billion tokens were sold in approximately 18 minutes.
The crypto exchange has managed to maintain is high reputation among the users by fulfilling the regulatory requirements and providing the users the ability to choose from the hundreds of coins listed on the platform.
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