Bittrex, a US-based Blockchain trading platform, has announced to host its first token sale, named an Initial Exchange Offering (IEO), for RAID’ XRD token on Bittrex International, its Malta-based digital asset trading platform. RAID intended to provide data ownership back to users using Blockchain technology and token economy. Bittrex International, which runs within an EU and Maltese Crypto regulatory framework, will officially roll out the IEO on 15th March. As per the reports, the users of Bittrex will be capable of utilizing Bitcoin (BTC) to but XRD tokens, which was developed by RAID, an international gaming data Blockchain project.
Reports noted that RAID is a project that rewards gamers for sharing data, as part of a tokenized ecosystem that designed to advance marketing and business growth and fortify other improvements for gaming firms. Co-Founder and CEO of Bittrex, Bill Shihara said that the Initial Exchange Offering (IEO) will enable global token investors to back new Blockchain projects with an equanimity which comes from Bittrex International regulated in Malta. Headquartered in Seattle, Washington, Bittrex has delineated the hard cap for the IEO is 17 billion XRD, with aiming to reach around USD6 million. At present, Bittrex is one of the top 50 largest Crypto exchanges across the globe by managed daily trade volume.
When coming to the foray of Bittrex International into token sales, it follows Crypto exchange Binance’s token sale platform Launchpad, which recently hosted the sophisticated and extremely swift token sale for the Tron-based BitTorrent (BTT) token.