- IronX has reportedly sold 67.6 million ADA tokens valued at $22.3 million
- IronFX is developing the IronX exchange in collaboration with EmurgoHK, the team behind Cardano (ADA)
- The dev team says its crowdsale begins on November 1, 2018, and an ambitious target of $50 million has been set
IronX, the distributed ledger technology-based virtual currency exchange being built by IronFX, a leading, regulated multi-asset broker in collaboration with EmurgoHK, has generated an impressive $22.3 million from its Cardano (ADA) powered token presale event, reported Finance Magnates on October 28th.
IronX Token Presale A Huge Success
According to a Finance Magnates report, citing an announcement released on Telegram, the cryptocurrency exchange being created by IronFX and EmurgoHK, the team behind Cardano, has successfully generated $22.3 million from its private token presale.
At a time when investors’ enthusiasm has waned significantly in the cryptospace, due to the prolonged slump in the price of bitcoin and other digital assets, the IronFX team has seen significant success in their quest to launch a digital assets trading venue and exchange.
Per the announcement, the team claims to have sold 67.6 million ADA tokens valued at $22 million during its hitch free fundraiser.
Exchange Goes Live In December 2018
IronX is a cryptocurrency exchange being jointly developed by IronFX, a Cyprus-based multi-asset broker regulated in the UK by the Financial Conduct Authority (FCA) and the EmurgoHK Group, the creators of Cardano (ADA) blockchain network.
ADA is the native digital asset of IronX cryptocurrency exchange, and earlier in July 2018, IronFX integrated ADA coin into its fiat trading platform.
The team claims to have an existing user base of 1.2 million customers and aims to use this to its advantage in its upcoming public sale event.
With the private presale done and dusted, the team has said its crowdsale will commence on November 1st and run through December 15th.
Interested participants are required to contribute a minimum of $100.
Following in the steps of its parent firms who operate in strict compliance to regulation, IronX has secured a blockchain provider license in Estonia and is also looking to get the approval of Gibraltan regulators shortly.
As reported by Blockchain Reporter, on October 21, 2018, Gibraltar is fast becoming a DLT and digital assets hub, thanks to its liberal stance and robust, yet friendly cryptocurrency regulation.
Covesting, a cryptocurrency trading platform, is the latest digital assets trading venue to be granted a license by the Gibraltar Financial Services Commission (GFSC).
At the time of writing, Cardano (ADA) remains the 9th largest cryptocurrency in the world, with a market capitalization of $1.80 billion and the price of ADA token sits at $0.069.