Golix to raise $32m through a token sale

Published: 17 May 2018

Bitcoin was trading locally at a premium to prices obtaining on cryptocurrency exchanges outside of Zimbabwe.

Bitcoin was trading locally at a premium to prices obtaining on cryptocurrency exchanges outside of Zimbabwe.

ZIMBABWE;S cryptocurrency exchange Golix is seeking to raise $32 million through a token sale.

Golix is an African fintech startup that has been facilitating Africans customers to buy and sell cryptocurrency, using payment channels that are predominately available to Africans, such as mobile money.

"Over one billion Africans currently do not have access to a cryptocurrency exchange that will accept their local fiat. Golix targets to enable more people in Africa to access cryptocurrencies by setting up exchanges all around Africa that will accept local fiat. The token sale aims to raise funds that will enable Golix to achieve this," the company said.

The GLX token, an Ethereum ERC-20 token, will be available for purchase from Monday 14 May 2018 on the Golix token sale website, tokensale.golix.com. Potential buyers can use their bitcoin (BTC) and/or ethereum (ETH) to buy the GLX token which has been priced at $0,05612 per GLX token.

Golix has been operational in Zimbabwe as an exchange for 3 years already and boasts of having over 50,000 customers that have transacted over $20 million to date. The funds raised will also help Golix expand its portfolio of services offered.

The total supply of GLX tokens is 1,274,240,097 tokens, with fifty percent (637,120,049 tokens) available for sale during the token sale period. The hard cap for the token sale has been set at sale of 637,120,049 tokens.
- fingaz

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