Last updated on February 27th, 2019 at 01:38 pm
Zimbabwe’s biggest cryptocurrency exchange platform, Golix, is not relenting on its planned ICO sale to raise $32 million.
The crypto platform isn’t exclusively focusing on Zimbabwe, rather expanding its token sale to other African countries like Kenya and Uganda sales of which is expected to take off this month.
It’d be recalled that Golix’s Initial Coin Offering was initially put on hold temporarily after the directive from Reserve Bank of Zimbabwe that banks shouldn’t process cryptocurrency transactions in the country.
The dogged Golix obtained a court ruling which told the apex bank it doesn’t have such powers to stop cryptocurrency transactions.
It was a giant victory for Golix, but its operations are still being hindered by regulatory issues in Zimbabwe.
Such cryptocurrency issues had caused much uncertainty and disruption to trade and investment in virtual currencies in the country as Golix scrambled for survival.
With the latest bold step, it Golix is ready to rule cryptocurrency market across the African countries.
Africa is a huge market for any product and service considering her love for technology.
They have been trying to keep up with other crypto leaders across the world even though the continent is still intensively embarking on critical blockchain technology.
“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,” Nhlalwenhle Ngwenya, spokesperson for Golix said Friday night.
Head of special projects at Zimbabwe digits! Currency exchange, William Chui, said Golix token sale is aimed to anchor initiatives that will enable instant remittances and international payments through cryptocurrencies.
It has also pointed out that GLX token, which is an Ethereum ERC20 token, is already available for purchase from June 1 2018 on the Golix token sale website.
This means that potential buyers can “use their bitcoin (BTC) and/or ethereum (ETH) to buy the GLX token” which is being sold at a price of $0.05612.
About 1,2 billion tokens will be availed but only 637,120,049 have been availed for sale during the current and initial token sale.
“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,” Chui said.
Golix is seriously making cryptocurrency incursion into other parts of African countries even as it continues to battle anti-crypto laws in Zimbabwe.
It had signed crypto agreements to launch operations and partnerships in South Africa, which is already taxing bitcoin and other cryptocurrency investments.
“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,” head of growth at Golix Panashe Tapera said.
Citizens of Africa are moving up to embrace virtual currencies, but governments across the continent have issued warning through their security exchange to scare them from dealing in digital currency. But investors remained determined not to be left behind in the crypto “craze”.