Crypto Solutions Provider Trade.io Raises $20 Million USD in ICObr>
Crypto solutions provider Trade.io has announced that its ongoing initial coin offering (ICO) has already surpassed $20 million USD. The company said the Trade token ICO, which started on December 7 and will run until January 4, attracted more than 7,000 participants.
Trade.io is a new blockchain platform that aims to disrupt the ways the financial ecosystem works and democratize the markets. The platform uses a peer to peer (P2P) platform and three other technologies. The company uses the Web 2.0 layer, cloud data storage and the blockchain fabric advancement to support the trading of a variety of digital assets.
The funding will be used to further strengthen its liquidity pool and to continue building out its seed-funding initiatives. The company will also provide kick-starting capital to its early adopters and to early-stage firms that wish to list on its exchange.
In addition to digital assets, Trade.io plans to offer forex and contracts for difference (CFD) over precious metals, oil, commodities, indices, global equities, to name just a few. The company said it will be offering more than 120 products at launch.
The company also intends to obtain a Swiss banking license and additional financial advisory licenses such as a US FX exchange license. This will facilitate the development and integration of blockchain technology for the Trade.io exchange into legacy systems, including MT4 starting with FXPRIMUS and Primus Capital Markets.
Earlier this month, Trade.io partnered with blockchain identity verification company Civic to deliver faster know-your-customer (KYC) verification for its users.