Press releases Trade.io Surpasses its Soft Cap Target in First Days of Pre-ICO
Bitcoinist | Nov 22, 2017 | 20:30
Zug, Switzerland, November 22, 2017 – One of the year’s most anticipated ICO’s, announces that less than 1 week into their PRE-ICO they have surpassed their soft cap of $5M. Net of all fiat & Ethereum deposits, trade.io has raised $7,055,267 and 6,825,200 Trade Tokens.
Surpassing their soft cap enables trade.io to execute on a multitude of its initiatives. This includes the buildout of their proprietary blockchain-based exchange and robust technical infrastructure, which is well ahead of schedule and will be available for beta testing in January 2018. Further to that, this accelerates integration with existing 3rd party trading platforms, artificial intelligence adoption for price discovery and above all initial contribution into their revolutionary liquidity pool.
The initial fundraising included contributions from existing clients deriving from the Company’s early adopters, which is a testament to the demand for the utility Trade Token which will serve as a currency on the upcoming platform.
On the announcement, CEO Jim Preissler commented:
The trade.io team is extremely pleased with the initial results, and is a testament to the support of the ever increasing trade.io community. While still early, the momentum we’re witnessing in our brand is truly special to see. trade.io participants have spoken, they want something new and innovative, and we’re honored to be the company they are choosing.
Fund Raising Milestones
Trade.io has stated that additional funding will allow them to unlock additional value propositions.
A $10M to $20M raise provides the company with the ability to further strengthen its liquidity pool and to start building out its seed funding initiatives which provide kickstarting capital to its early adopters and to early-stage companies that wish to list on its exchange. Once an additional $15M is raised or $35M in total, it will allow trade.io, the ability to start offering its exchange on additional blockchains, including the development of their own blockchain, hence moving towards interoperability of different protocols.
A $50M cumulative raise will kick off development to create compliant smart contracts for use in its investment banking offering. At this stage, further investments will be made to develop smart contracts that are able to settle across different protocols and yet maintain the level of compliance required for compliance monitoring and reporting. There will be also further contribution into the liquidity pool to start preparing for institutional volume.
A $50M to $100M raise is when many of the broader, longer terms goals of trade.io take effect, and tap into the unique expertise of the group. Based on analysis, a $50M total raise will allow them to proceed with procuring world-renowned global regulatory licenses such as Swiss Banking License & Alternative Trading System (ATS) regulation in the US. in the meantime trade.io will continue to operate in partnership with its early adopters who are already adequately licensed to provide services offered by trade.io.
From $100M onwards enables trade.io the ability to contribute further to its liquidity pool, but as importantly activate its strategy of acquiring existing profitable companies. These businesses will bring value in the form of technologies, widening of regulatory footprint and product offering. TradeToken holders will benefit from these acquisitions as the businesses will be bolted on to trade.io. One clear benefit of these acquisitions is the profitability of the liquidity pool. Revenue growth by strategic acquisitions accelerates the profits within the decentralized liquidity pool, which are then shared with participants as described in the the project’s whitepaper.
Trade.io PRE-ICO is currently open until 25 November 2017, with the ICO beginning 28 November 2017, concluding 15 December 2017. Find out more by visiting trade.io.
Media Contact:
trade.io
Attn: Media Relations
Bahnhofstrasse 21
6300 Zug, Switzerland
+41 43 508 1834
[email protected]
Images courtesy of Trade.io
