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Exchange of cryptocurrencies: IronX starts after an ICO of USD 26 million

The exchange of cryptocurrencies, IronX, has opened to the public after an initial offer of currency (ICO) of USD 26 million, a means of communication focused on technology, The Fintech Times, reported on April 4.

IronX is a regulated trading platform that was jointly established by the digital commerce firm IronFX and EmurgoHK, developers of the ninth largest crypto by market capitalization, Cardano (ADA) in October last year.

IronX users can now trade between both fiat currencies such as the US dollar, the euro, the Japanese yen and the cryptocurrencies. The exchange supports Bitcoin (BTC), Ethereum (ETH), PumaPay (PMA), ADA, EOS, Litecoin (LTC), NEO, Stellar (XLM), Ripple (XRP) Tezos (XTZ) and its native token IRX.

Before operating, customers will have to register on the platform and pass the Know Your Customer (KYC) approval. After that, they will receive 10 IRX automatically. The exchange will add more cryptocurrencies and features listed at a later date.

As Cointelegraph reported earlier this week, the ICO analytics website, TokenData, found that in the first quarter of 2019 some USD 118 million had been raised through the ICOs, that is, more than 58 times less that USD 6,900 million raised during the same period in 2018. The report also revealed that of the 2,500 projects that TokenData has followed since 2017, only 45 percent raised money successfully.

In February, a study of institutional investors conducted by the Global Blockchain Business Council (GBBC) revealed that 19% believe that digital assets will be invested and marketed regularly by 2021. According to the survey, 41 percent believe that institutional investors will only enter in the ICO sector over the next five years, although 23 percent said they saw no potential for investment in the ICO market.

Also published on Medium.

Published inCryptocurrencies

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