Bixoxo, India’s largest cryptocurrency exchange, has now launched its TGE, following a very successful presale that sold 5 million tokens and concluded last month.
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The sale will help fund the expansion and creation of new products and services. Bitxoxo has a vision where Bitcoin and BCH have become the de facto standards for exchange value, and participants in this sale will also help make that into a reality.
Bitxoxo plans on creating a BCH Marketplace, BCH E-University Certification Program, as well as a BCH enabled POS system. The funds will also be used to launch an incubator that will help invest, grow, and promote blockchain startups.
While the funds are split up between the usual development, legal, marketing fields, Bitxoxo is allocating 10% of funds raised into what they are calling “cryptocurrency”. Funds earmarked for cryptocurrency will be used to spread awareness through organizing various events and seminars, something not many other ICO’s are doing.
There are still over 2 weeks left in the sale, ending on May 31st. 10 million tokens are available for purchase, at a minimum price of $2. There is a soft cap at $5,000,000 and a hard cap at $27,500,000.
Since its inception back in July 2016, the exchange has become powerful not only in India but global markets, with 100,000 active users in 2017. The exchange handles over $10 million of volume daily, with 0.1% fees. The exchange operates 24/7, providing support through its chat, email and phone support system.
Bitxoxo has also expanded into bringing a mobile version of the platform for both Android and iOS, as well as offering the world’s first Bitcoin prepaid gift card and Token Sale Launchpad.
Hesham Rehman, CEO & Co-founder, Bitxoxo, said:
“Unlike other ICOs, this isn’t an investment into a new and untested exchange. We have had over two years of experience in running one of the most successful cryptocurrency exchanges ever, responsible in part for making Bitcoin a household name in India.”
Bitxoxo to pivot away from India
While the country and its government have shown support and enthusiasm for emerging blockchain technology, the Reserve Bank of India makes it very difficult for companies to do business.
Bitxoxo has pivoted operations to Australia, where it is now incorporated with expansion plans into Singapore and the Middle East, where the regulations facilitate business with cryptocurrency entities. Bitxoxo is almost complete with all legal compliance necessary to run an exchange in Australia.
Roger Ver (Founder and CEO of Bitcoin.com) and Mate Tokay (COO, Bitcoin.com) have been both attributed as people monumental in assisting the Indian exchange with expansion out of India.
What comes next?
After the TGE, a slew of launches will be made in the following quarters. As promised, the BCH marketplace will launch in Q3 of 2018, with Bitxoxo’s very own debit card being released in the last quarter of this year.
2019 will bring expansion, the crypto e-universe, BCH enabled POS, and the Bitxoxo Incubator in that order.