Crypto Exchange Bittrex International to Host Its First Public ‘Initial Exchange Offering’

Published at: March 13, 2019

Crypto exchange Bittrex is hosting its first token sale — dubbed an Initial Exchange Offering (IEO) — on Bittrex International, its Malta-based digital asset trading platform. The news was announced in an official press release published on March 11.

Bittrex International, which operates within an EU and Maltese crypto regulatory framework, will officially start the IEO on Friday, March 15, the press release announces. Bittrex users will be able to use Bitcoin (BTC) to purchase “XRD” tokens, developed by international gaming data blockchain project Raid.

According to the press release, Raid is a project that rewards gamers for sharing data,as part of a tokenized ecosystem that aims to enhance marketing and business growth and foster other improvements for gaming companies.

Bittrex CEO and co-founder  Bill Shihara has said that IEOs on the platform will allow international token investors to back new blockchain projects “with the peace of mind that comes from Bittrex International regulated in Malta.”

Bittrex has outlined the details of the IEO, which will end when a hard cap of 17 billion XRD (~$6 million) is reached.

Bittrex is currently within the top 50 largest crypto exchanges globally by adjusted daily trade volume, seeing about $73 million in trades on the day to press time.

Bittrex International’s foray into token sales follows major crypto exchange Binance’s token sale platform Launchpad, which recently hosted the high-profile — and extremely swift — token sale for the Tron-based BitTorrent token (BTT) this January. The BTT sale netted $7.1 million dollars with the sale of 50 billion tokens within 15-18 minutes.

In February, Launchpad hosted a similarly speedy public token sale for AI and smart contract project Fetch.AI.

Tags
Blockchain
Cryptocurrency Exchange
Tokens
Binance
Bittrex
Related Posts
JPMorgan’s Blockchain Offshoot Kadena Gets First Ever Token Listing
Bittrex Global, one of the world’s most popular platforms for trading cryptocurrencies, is about to become the first crypto exchange to list a token by JPMorgan’s blockchain spin-off Kadena. Kadena token (KDA), is finally getting its first official listing on June 25. While token deposits on KDA wallets on Bittrex are available immediately, the trading is set to open on June 26 at 10:00 a.m. EST. At the initial launch, KDA will be trading against two cryptocurrencies — Bitcoin (BTC) and major USD stablecoin, Tether (USDT). Trading on Bittrex Global isn’t available in the U.S. and some sanctioned countries By …
Blockchain / June 25, 2020
Mystery Account ‘Rescues’ $6M of STEEM From Hard Fork Seizure
As part of the long-running Steem drama, the Steem (STEEM) network experienced another fork today. Particularly designed to tackle “constant attack from malicious accounts,” the new hard fork doesn’t appear to have been entirely successful. Code named “New Steem” the hard fork 0.23 had two primary aims. The first was to reduce the power down period from 13 weeks to four weeks. The second was to seize 23.6 million in STEEM tokens from Steem accounts and stakeholders associated with the Steem blockchain’s rebel and fork, the Hive blockchain. The latter goal has apparently failed as the seized funds were ‘rescued’ …
Decentralization / May 21, 2020
Binance to Transfer BUSD Across Blockchains on Syscoin-Ethereum Bridge
Major cryptocurrency exchange Binance plans to use a bridge between the Syscoin and Ethereum blockchains to move its Binance USD (BUSD) stablecoin between them. The bridge developed by Blockchain Foundry — the firm powering the Syscoin blockchain — will allow BUSD holders to move their tokens between the Ethereum and Syscoin blockchains. This will also make the stablecoin available on the Syscoin blockchain for the first time. Binance said, “Users can take advantage of Syscoin’s fast, scalable and low-cost transactions while also preserving the ability to leverage Ethereum’s smart contract functionality. Also help provide more use cases for BUSD holding …
Technology / July 23, 2020
Binance Supports Algorand’s v2.0.2 Upgrade, Halts ALGO Deposits
Algorand, a decentralized blockchain network developed by the eponymous American blockchain firm, is expected to upgrade to version 2.0.2 today. The upcoming network upgrade is poised to increase the amount of time for nodes to upgrade to new consensus versions after voting thresholds have been met, as announced on Dec. 13. Scheduled for 10:00 AM ET on Dec. 16, Algorand v2.0.2 release is expected to take place at block 3,705,466. At press time, there are 3,704,219 blocks on the Algorand blockchain, according to AlgoExplorer.io. Extending time for nodes to upgrade from 12 hours to seven days As announced, the primary …
Blockchain / Dec. 16, 2019
Binance Chain Launches, Firm Expects to Execute Mainnet Swap on April 23
Binance has launched its mainnet Binance Chain and expects to execute the swap of its native token Binance Coin (BNB) on April 23, according to an announcement on April 18. The major crypto exchange first revealed its plans to launch its own blockchain in December 2018, intending to build a basis for issuing new cryptocurrencies and initial coin offering tokens. According to the announcement, Binance is producing blocks with consensus from the genesis block as of today, with its native coin BNB planned to be issued in the genesis block. Binance Chain Explorer and Web Wallet will be available to …
Blockchain / April 18, 2019