Wirex exchange to launch IEO for new Wirex Token (WXT)

10 Jun, 2019
by David Robb
Wirex exchange to launch IEO for new Wirex Token (WXT)

Wirex is the latest cryptocurrency exchange to launch its own utility token, as reported by Yahoo Finance. It will be holding an Initial Exchange Offering (IEO) for Wirex Token (WXT) on June 25.

After the huge success of Binance's Binance Coin (BNB) crypto, many other top trading platforms have followed its lead with their own utility tokens. The most recent was Bitfinex's LEO token, which was launched back in May. Much like these other cryptos, Wirex's WXT will allow users to get discounts of up to 100% on trading fees and a range of other charges. Holders can also earn other benefits, as part of Wirex's Cryptoback rewards programme.

According to Wirex CEO Pavel Matveev, "We believe that the nascent token economy will eventually replace conventional fiat currency as the dominant form of payment. The Wirex Token helps us integrate with the payment environment of the future and offer users a convenient, fast and cost-efficient way to move digital money across borders".

Wirex will be selling WXT via OKEx's JumpStart platform, for IEOs. 1 percent of the total supply will be sold, for a price of $0.01 per token. There will also be $2 million worth of Wirex Tokens made available in a pre-sale held on June 13, for verified users.

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Read more about: OKEX


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