Exchanges Roundup: First UAE-Based Exchange, LXDX to Launch Security Token Offering

Exchanges Roundup: First UAE-Based Exchange, LXDX to Launch Security Token Offering

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Suhail Al Zarooni, the Chairman of Al Zarooni Foundation described the launch of the exchange as a “milestone for getting global investments opportunity from all over the Globe in UAE.”

Shasha Gupta, the chief executive officer and founder of Crypto Bulls Exchange, stated that “Crypto Bulls will be the first exchange providing AED trading pairs and traders would be able to convert their crypto assets into AED.”

The company plans to issue five million tokens priced at 1 EUR each that will collectively represent an ownership share in the platform. The tokens will also entitle holders to 10 percent of the exchange’s quarterly adjusted gross revenue.

Will Roman, the chief operating officer and co-founder of LXDX, stated that the STO would be the only token offering that the firm plans to conduct in the “foreseeable future.”

Joshua Greenwald, LXDX’s chief executive officer stated his expectation that “The million token future is just around the corner,” adding: “As blockchain technology proliferates, we expect to see increased tokenization of tangible assets like real estate, commodities, and even art.”

BTCC requests that miners direct their hashing power elsewhere by Nov. 15 and “bind [their] mining revenue address” before Nov. 20, adding that the pool “will release the profits of all miners in time.”

Do you think more companies in the cryptocurrency sector will seek to issue stock via security token offerings? Share your thoughts in the comments section below!

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source: https://news.bitcoin.com/exchanges-roundup-first-uae-based-exchange-lxdx-to-launch-security-token-offering/

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