Exclusive: trade.io Announces ICO with FXPRIMUS as First Adopter

Once the trading platform is live, FXPRIMUS intends to utilize the technology in its offering.

Newly established blockchain-based fintech venture trade.io is launching an ICO. Foreign exchange and CFDs brokerage FXPRIMUS will be an early adopter of the company’s technology and trading platform.

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The fintech firm was recently established in the city of Zug, Switzerland, and is managed by CEO Jim Preissler. A Yale graduate, with private equity and investment banking experience, he will be joined by private equity investor Mohan Singh as Chief Strategy Officer. Board members will be CEO and Executive Director of FCA-regulated Primus Capital Markets UK Damian McDowell, as well as Roy Gutshall.

The company is issuing 500 million trade tokens with 275 million available in the sale. During the pre-ICO period, a maximum 100 million TradeTokens will be sold at a price of 1 ETH (or fiat equivalent) = 200 TradeTokens.

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Pre-ICO will run from 7th of November until 21st of November. The ICO itself will run for a week between the 22nd and 29th of November. One Ethereum will be exchanged for 100 TradeTokens. At the current value of Ethereum, this equates to approximately US$3 per TradeToken. All unsold tokens will be burned post ICO.

To facilitate trading, the company will keep 50 million tokens to maintain a liquidity pool that facilitates trading executed via the platform. The remainder will be used to compensate the development of the platform, developers, advisors, vendors and management of the firm.

Ultimately, trade.io will be a trading platform for not only crypto assets but also forex and CFDs over precious metals, oils, commodities, indices and equities. With an unlimited number of assets that can be traded, the company is aiming to reduce inefficiency and lower costs for investors and companies by disrupting the capital markets intermediary ecosystem.

The trade.io exchange will not only support the trading of assets, but also aims to enable the more efficient listing of assets in the crypto economy.

The company’s team is currently working on blockchain developments for the trade.io exchange, and incorporating the legacy system integration into transaction platforms. The firm also plans to establish an investment bank and establish and execute the new exchange in a regulated environment.

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