In this month’s financial news, the Silicon Valley Bank collapse and subsequent de-pegging of top stablecoin USDC caught the eye of everyone in the crypto space. Despite this negative news, Bitcoin made a massive rally to $28,500 and major digital asset service provider Damex announced the launch of its IEO, which will start on April 19th, 2023.
https://twitter.com/damex_io/status/1635953839428730881
What is Damex.io?
Damex.io is a digital asset payment platform that is regulated by Gibraltar GFSC— something that only 13 other companies in the world can claim. The platform is also developing an exciting smart finance app, which is currently available for both Android and Apple devices in the UK and EEA.
2022 Leave Market in Turmoil
The 2022 financial market marked the downfall for some major players in the crypto space, including Terra Lunna and the world’s second-largest exchange at the time, FTX. With a combined, eye-watering total of $96 billion USD in collective total losses, it was clear that the market had exceeded anything resembling a sustainable model.
With the SEC’s spate of new regulations and Europe’s impending (MiCA) soon to introduce a new regulatory framework for European crypto-assets, it is clear that DeFi projects will have to tread more carefully going forward. But what can prove to be a hindrance for less reputable companies is a benefit for those like Damex, that tick all the regulatory boxes — and then some.
DLT license Gives Damex Boost
The Gibraltar DLT license means Damex is regulated and can thus offer trading and custody of DLT assets, making it much more attractive compared to competitors that don’t have it. The company also has over 5 years of successful business track record, strong revenue, and consistent positive EBITA too. The platform oversees $120 Million USD of trades per month and manages in excess of 750 business clients worldwide.
Smart App & Features
Damex has an established team of 65 members who are feverishly preparing for its utility token IEO and developing an interesting smart finance app. The Damex smart finance app is geared towards businesses but packs a surprising amount of features that benefit the everyday user. These include cross-border remittance, crypto/fiat trading, a Visa card program, OTC desk services, cold storage, IBAN banking, token staking, and more.
Those staking will be eligible for zero exchange fees, access to VIP Premium, cash back, and early access to new features. Some of these new features include a non-custodial wallet, as well as both life and health insurance, loans, stock options, and NFTs.
An IEO to Look Out For
The Damex IEO starts on April 19th, 2023, and is available to crypto enthusiasts globally, in line with regulatory compliance. The presale will offer any interested parties an opportunity to get on board with an exciting, yet already strongly established company with a birds-eye view of market regulation going forward.
The Damex IEO will launch from the smart finance app and at least two launchpads. Follow the Damex official Twitter account and other social media channels for the launchpad announcement.