Crypto Payment Platform Launching New Token Via Initial Exchange Offering (IEO)
A surprise announcement has come from the popular crypto payment platform Wirex. Announcing the launch of its own digital asset, WXT, the offering of the new token will be conducted via an initial exchange offering (IEO).
“The Wirex Token (WXT) Initial Exchange Offering (IEO) will take place through OKEx’s OK Jumpstart programme on the 26th of June, 2019, during which $1 million worth of tokens will be released (exactly 1% of the total WXT supply).” – Wirex Token Sale Announcement
IEOs have been all the rage as of late for start-up projects in the blockchain space. Similar to ICOs, the crowdsale is hosted by the exchange, with users or insiders purchasing the tokens. Binance Launchpad has seen huge success with this new style of raising capital, bringing IEOs into the spotlight.
The move by Wirex has potential to be a huge success; tokenizing the user experience and creating a native unit of value has worked well so far for Binance!
Wirex offers users a debit card and smartphone app supporting fiat currencies and popular digital assets, including BTC, ETH, XRP, LTC, NANO, XLM, and more.
The new WXT token will be sold and distributed on June 26th, 2019 via OKEx’s OK Jumpstart program, with Wirex “kindly” offering its verified users an “exclusive WXT presale” on June 13th, 2019!
“We hate the thought of you guys missing out, which is why we’re holding an exclusive WXT presale from the 13th of June, only for verified Wirex users! There’s a total of 200,000,000 tokens (2% of total supply) up for grabs on a first-come-first-serve basis.” – Wirex Token Sale Announcement
The WXT token will entitle users to a variety of benefits and extra features on the payment platform, similar to how the Binance token (BNB) can be used to get fee discounts on the exchange.
The wave of tokenization continues, and we will keep you up to date on the private and public sale of the WXT token as developments continue!
This is not investment advice; please always do thorough research and only invest what you are willing to lose, especially in times of uncertainty.