Zimbabwe’s digital currencies pioneer, Golix is raising $32 million through a token sale in, a bid to finance cryptocurrencies infrastructure across the entire African continent.
Simultaneously the exchange which has been operational for the past 3 years, processing transactions worth $20 million, announced that it has launched its services in Kenya, South Africa and Uganda as from Friday 1 June 2018.
“As part of our strategy starting from Friday 1 June, people in kenya, South Africa and Uganda will be able to start trading from Golix. This is one of our plans to be the leading exchange in Africa, which inspired by the vision to provide financial autonomy in the continent, ” said Head of Growth Panashe Tapera.
Out of 54 countries in Africa, only 3 have cryptocurrencies exchange meaning that the rest of the countries are yet to realise the potential that is held by the blockchain technology.
Thus golix has set its target to avail its services across the entire African continent to address the cryptocurrency infrastructure shortage which has slowed down the adoption of digital currencies.
Golix Lead of Special Projects William Chui stated that the token sale was an initiative they set afoot to enable instant remittances and international payments through cryptocurrencies.
“Since from onset our main agenda is to provide financial autonomy in Africa. The GLX token is going to be used to facilitate and realise this agenda. People from respective different countries will be able to buy the GLX token from the exchange using their fiat currencies. The GLX token will be used to buy other Altcoins in the exchange, all this will be done at zero transactions fee.
“The GLX token will also be used to facilitate remittances and international payments at lesser fees, compared to current banking methods. This cascade immensely towards the contribution of GDP growth in African countries” said Chui.
The GLX token, an Ethereum ERC20 token, will be available for purchase from Friday 1 June 2018 10AM UTM/GMT 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. 1,274,240, 097 tokens will be availed but only 637,120,049 are going to be sold during the token sale and the public will only be able to buy half of the tokens.