Place/Date: London, UK - December 1st, 2017 at 8:17 am UTC · 3 min read
Contact: Sofiia Neduzhko, Source: EXMO
EXMO has announced their plan to introduce margin loans as the key feature of their platform, which will allow traders to earn more on currency fluctuations by borrowing extra funds. This will bring a whole new way of trading to over 700,000 loyal traders around the globe and numerous new ones, enabling them to trade cryptocurrencies on a bigger scale than they would be able to previously.
Under a margin loan, one borrows funds from a broker to buy or sell stock. EXMO will offer 1:2 leverages for a margin loan on the most popular BTC, ETH, and USD order books. More options will come in the future as the demand for the service increases.
In order to cover the traders’ demand for margin loans, as well as to enable the overall platform development, EXMO will attract additional investment capital by issuing its very own token called EXMO Coin (EXO).
At the core of the upcoming crowdsale is the principle of giving the already-profitable platform an additional boost for rapid development. Half of the funds raised through the crowdsale will be used to cover the increasing demand for margin loans, and another quarter will be put into the overall cryptocurrency exchange development.
The rest will go into establishing the margin loan insurance fund, acquiring the necessary licensing for simplifying the fiat money transactions, and covering marketing expenses.
Ivan Petukhovsky, EXMO co-founder, explains:
“We at EXMO believe that cryptocurrency trading must offer the same variety of investment tools as ordinary trading. We look to the future and would like to foster this development through bringing the virtual and real economies closer, and giving more people opportunities to invest and earn with just a click. Issuing the EXMO Coin will enable us to satisfy the demand of hundreds of thousands of traders, and develop an even more resilient, reliable, and truly global exсhange platform.”
Token holders will receive 50% of the revenue derived from margin loans distributed among them in the form of dividends on a monthly basis.
Following the sale, the EXMO Coin will be traded on the EXMO Exchange in pairs, such as EXO/BTC and EXO/ETH, and later on with other currencies and altcoins, thus constituting another lucrative asset for its holder.
On top of that, EXMO announced its guaranteed token buyout, outlining the corresponding conditions and dates in their White Paper.
The EXMO Exchange was founded in 2013, and has showcased steady performance ever since. In fact, it saw a trading volume of $192 mln back in 2014, growing to $1.8 bln in 2017, and 591,000 deals in 2014 reaching 24 mln in 2017. Thus, the trading volume and the number of deals made through the platform grew by 9 and 40 times respectively in the course of 3.5 years. The client base swelled by 188% in 2017. This tends to be an essential dynamic to consider, as the value of EXMO Coin will correlate with EXMO’s overall performance, as well as exchange rates of other currencies on the platform.
EXMO will launch their token currency on February 26, 2018, and all the interested users will immediately be able to purchase EXMO Coin tokens. The crowdsale will last until March 26, 2018.
Disclaimer: EXMO is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.