The IronFX Group and EmurgoHK Group, will be joining forces so as to create a crypto exchange that will operate as a regulated, service-focused, exchange. IronFX is a global multi-regulated foreign-exchange trading provider and EmurgoHK is a Hong Kong company that accelerates different blockchain projects and has created the Cardano Blockchain.
The new platform will be known as IronX Exchange and will be operating as a regulated company that will provide funding via fiat and cryptocurrencies. The information has been released by Finance Magnates, which had privileged access to this information.
Both firms will combine EmurgoHK’s blockchain experience with the IronFX’s existing regulatory and operational practices, processes and solutions. Additionally, the exchange will allow the FX broker to provide risk management, back-office, account management, payment, and banking solutions.
Some of the benefits of this platform will be related to facilitate to move positions from cryptocurrency trading into traditional online trading. Additionally, it will be possible for clients to use their crypto accounts and digital assets to migrate, or partially move positions into the IronFX’s platform.
IronX Exchange ICO
The company has also started a private token sale that is by ‘invitation only.’ The intention is to launch the IRX tokens and use the money gathered to develop the platform further. The presale opened on June the 4th offering 200,000,00 tokens.
IRX token holders will have different benefits, for example, they will be able to request additional services and incentives. Furthermore, they will have discounts on spread paid with the tokens.
Kenji Sasaki, Co-Founder of Cardano and Corporate Officer of EmurgoHK, commented:
“The IRONX Exchange is a very exciting Joint Venture for the EmurgoHK Group. Our partnership with a global online trading powerhouse, like IronFX, combined with our in depth understanding of blockchain technology and the global crypto community, will address the key issues being faced by crypto investors and traders around the world at the moment, and look forward to the launch of IronX and a new era in the space of Crypto Exchanges.”
Markos A. Kashiouris, Chariman and Founder of the IronX Exchange, has also given his view about the partnership saying that with both teams they will be able to deliver successfully in their mission to build the IronX Exchange.