Crypto news this month has had its share of negativity. The closure of Signature bank, came just days after California’s Silicon Valley Bank collapsed, and now Silvergate, another crypto-friendly Bank will be closing its doors. Despite this worrying trend, Bitcoin is flying with its strongest run since last year’s bull market & major digital asset platform Damex has announced the date for its highly anticipated IEO.
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With so many financial institutions announcing bankruptcy, established companies like Damex that are properly regulated could have a leg-up on the competition. Damex is one of only 14 companies in the world with a Gibraltar DLT license and is currently preparing for its IEO on the 19th of April, with token utility going live on the Damex App in the UK and EEA shortly after.
Last year saw several high-profile crypto institutions fall like a house of cards leaving the fear index on ‘Extreme’ going into 2023. The biggest offenders included the world’s second-largest exchange – FTX, stablecoin project Terra LUNA, crypto investment firm Voyager, Celcius, and BlockFi.
Over the course of 2022, legislative bodies across the US, Asia, and Europe moved quickly to pass new laws to prevent even stricter crackdowns from their respective governments. In Europe, the ‘Markets in Crypto-Assets’ (MiCA) framework is expected soon and could have a resounding effect on all digital asset companies based in the EU.
Only 13 other companies have a Gibraltar DLT license, making Damex a fully regulated company, able to offer trading and custody of DLT assets. The company is already well established in the finance industry with a successful 5-year run as a digital asset platform, in which it has onboarded 750 institutional clients who currently trade $120 Million USD monthly with Damex.
With a successful, proven business strategy and regulatory requirements already achieved, Damex is now looking to grow both its crypto community and its institutional user base with the development of its smart finance application and IEO launch. The Damex app is already available in the UK and EEA and combines a myriad of features to benefit both the casual crypto trader and streamline the workflow of large-scale institutional businesses.
The App features include cross-border remittance, crypto-to-fiat trading, a Debit Card Program, OTC desk services, and cold storage offer enthusiasts and businesses security, flexibility, and multiple ways to manage and spend digital assets.
Token staking will unlock premium features, including zero exchange fees, access to VIP Premium, higher cash back, and further down the line, the app will integrate a non-custodial wallet, as well as Life and health insurance, loans, stock trading, and more.
The IEO launches on April 19th offering the market a chance to secure some of the platform’s native DAMEX utility tokens and join a project that has already proven very successful and trustworthy to regulators for the past 5 years.
The Damex IEO will launch from the smart finance app and at least two launchpads. Follow the Damex official Twitter account and other social media channels for the launchpad announcement.