EmurgoHK, the commercial arm of the Cardano blockchain, has joined with online trading platform IronFX to raise $22.3 million in a private sale to fund a new cryptocurrency exchange set to open in December.
Established in 2007, EmurgoHK is a global leader in blockchain technology and the venture builder for the Cardano blockchain protocol and its hugely successful native cryptocurrency, the ADA Coin. Located in Hong Kong,#crypto #cryptoexchange #cryptocurrency #ironx pic.twitter.com/kMudIp5RbM
— IronX Exchange (@IronXExchange) October 28, 2018
The exchange has already been granted a licence to operate in Estonia and is reported to be pursuing similar arrangements in Gibraltar.
When first announcing the venture back in June, EmurgoHK highlighted the bridge IronX will provide between conventional foreign exchange trading and cryptocurrency trading “…by facilitating traders of both types to move their positions between the various asset classes.”
Next milestone for the company is a public ICO aiming to attract an additional $50 million which will start on Thursday and scheduled to run until 15th December.
During the sale, IRX tokens will be priced at $0.44 and can be purchased in a minimum of $100 using BTC, ETH or Wire.
EmurgoHK, in partnership with Charles Hoskinson’s software house IOHK, has been a core component of the Cardano project’s success but also pursues independent projects of its own.