BlockEx Looks to Clean up ICO Market Place
22 Nov, 2017, 09:00 ET
LONDON, Nov. 22, 2017 /CNW/ - BlockEx launches BlockEx ICO Market - the place to list and participate in compliant, high quality ICOs. It will provide a full end to end compliant ICO product offering to companies wishing to launch an ICO. BlockEx will bring the governance and legal framework of its regulated activities to the ICO landscape, to provide a safer marketplace for all participants. It will add ICOs to the products listed on the BlockEx Digital Asset Exchange Platform (DAxP). The DAxP manages the entire lifecycle of blockchain based digital assets. It has toolkits for asset creation, servicing, trade settlement, permissioned trading and automated reporting. BlockEx has a friendly relationship with regulators: they are in FCA Sandbox to test bond issuance tools, and the AIFC Sandbox to test security based tokens.
BlockEx ICO Market was created in response to problems in the ICO landscape:
- Lack of AML and KYC = money laundering and fraud risks
- Cryptocurrency volatility = issuers may not manage funds effectively, buyers face exchange rate risk
- Lack of governance = huge sums invested in ideas in white papers, with no assurance of them reaching market
- Projects have been halted for creating ICOs that behave like financial securities without proper authorisation
- Past and current fraudulent ICOs have led to suspicion
- Unfair token Often ICO participants with a relationship with the issuer are favoured
- Lack of fiat funding options
BlockEx has solved these problems. The Pot Allocation System operates during the pre-sale of ICOs hosted on their platform. If a pre-sale is oversubscribed, tokens are allocated in proportion to the amount of funds subscribed, so everyone gets some tokens. The BlockEx ICO is offering the Digital Asset Exchange Token (DAXT). It gives holders access to the aforementioned Pot Allocation System. BlockEx maintains institutional grade AML, KYC and security policies for all services, products, and traders. They connect issuers with a Token Issuing Company and 3rd Party Treasury Management Services, so funds will be looked after, and used appropriately. BlockEx have created the IDAXT, an internal special purpose token that automatically transfers various funding methods (fiat or cryptocurrency) on-chain. Other benefits of the BlockEx ICO Market include full fiat on rails, and an instant secondary market.
Find out more: daxt.io
About BlockEx - BlockEx's Digital Asset Platform (DAxP) is an institutional grade exchange with Blockchain asset origination, dematerialisation and life-cycle management tools. Offices in London, Bulgaria, Taiwan and Israel.
SOURCE BlockEx Ltd
For further information: Adam Leonard, +44(0)203-637-5764
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