BANKEX, which provides the technology for asset tokenisation through its Proof of Asset (PoA) protocol, has already raised more than $24m through its token sale.
The BANKEX Token Sale, which will be live until December 28th or when the hard cap of 140 000 ETH is reached, passed is 20,000 ETH soft cap on the first day of the sale.
BTC, ETH Waves, TIME, Litecoin and SALT are all accepted as forms of payment in exchange for BANKEX Tokens (BKX).
The BANKEX Token Sale will be capped at 400,000,000 BKX, with BANKEX previously collecting over $20,000,000 in its pre-sale. It will provide BKX tokens at a rate of 1 ETH to 500 BKX. According to the company, 80 million BKX will be available in the public crowdsale and 140,000,000 BKX will be reserved for institutional investors.
Proceeds of the sale have been earmarked primarily for software R&D and software development, as well as company growth, promotion of the PoA protocol and B2B marketing, among others.
BANKEX’s aim is to bridge the gap between the emerging blockchain sector and traditional finance. Deploying smart contracts and enabling tokenisation, the platform powers off-balance sheet crowdfunding, chain finance and leverages external infrastructure to create efficient and time effective solutions.
CEO and Founder, Igor Khmel, said: “BANKEX is building an operating system for decentralised capital markets. The ultimate goal for our blockchain framework is to enable the realization of new types of asset classes that institutional investors have never considered because of the highly non-heterogeneous nature of these assets, their wide decentralisation and the high cost of financial and legal due diligence.
“The BANKEX protocol radically decreases these costs and connects traditional capital markets with historically non-fungible assets such as movie/music financing, private shares, local municipal debt and financing for standalone real estate objects.â€
Khmel has a wealth of management consulting experience having worked at McKinsey & Deloitte and investment & trading at Citadel hedge fund. He was also the founder of the fintech lab at Sberbank, the largest Eastern European bank.
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