IronX, the cryptocurrency exchange created by IronFX, a leading Cyprus-based global forex broker that specializes in CFDs and other financial instruments has officially opened its doors to the public, after nearly three months of its beta launch, according to a Finance Magnates report on March 28, 2019.
IronX Exchange Begin Operations
IronX, a cryptocurrency trading venue and digital assets trading platform collaboratively created by IronFX and EmurgoHK Group, the parent company of the Cardano (ADA) distributed ledger technology (DLT) project, enables both retail and institutional investors to trade and exchange a vast array of financial instruments, including fiat, cryptos, equities and more.
Reportedly, all users who pre-register and complete the necessary know-your-customer (KYC) procedure will receive 10 IRX, the native altcoin of the platform.
Notably, IronX conducted a hugely successful initial coin offering (ICO) from November 2018 to January 15, 2019, raising more than $26 million.
Additionally, the firm raised another $22.3 million through a private fundraising event by selling its native IRX tokens to a select number of investors.
A Regulated Digital Assets Exchange
As reported by Bitcoin Exchange Guide earlier in September 2018, the Estonian Financial Intelligence Unit (FIU) approved IronX Exchange, making it a fully licensed digital assets trading platform in the region.
At current, IronX is reportedly trying to secure a virtual currency trading license in Gibraltar, another crypto-friendly region.
Interestingly, IronX customers will be able to use their crypto accounts as well as their cryptoassets to access traditional financial instruments on the IronFX platform.
In essence, IronX makes it easier for crypto investors to gain exposure to traditional asset classes like stocks, CFDs and more, thereby helping them to diversify their portfolios.
Huge Benefits for Traders
Just like on several other established cryptocurrency exchanges, IronX plans to make its native IRX cryptocurrency the primary coin for transactions on the platform.
The exchange has made it clear that holders of the IRX coin will be entitled to a vast array of benefits based on the amount of IRX tokens they hold in their accounts.
With IRX tokens, IronX traders will be able to get significant discounts, higher leverage, trading bonuses, VIP account status, personal customer care service and more.
IronX has also added support for PumaPay https://pumapay.io (PMA) Token, a digital asset that allows merchants to get paid in cryptos in a seamless and frictionless way. At press time, PumaPay (PMA) is ranked 277 on the CoinMarketCap cryptos table, with a 24-hour trading volume of $456,242 and a market cap of $11 million.
Commenting on the development, CEO of IronX, Dimitris Hatzis reiterated that:
“We are happy with our public launch, which starts today and gives investors access to the IronX crypto trading platform. As promised, our clients will be offered a 50 per cent discount on trading fees paid with IRX tokens, as part of the IRX Loyalty Program. They will also be able to access to cryptocurrency and fiat pairs. We are looking to add more features as well as cryptoassets to our platform shortly.”