Zimbabwe’s most recognized cryptocurrency exchange, Golix is re-launching its token deal after planning their ICO, which was initially proposed to be ready In the middle of May. However, it was deserted after apparent fall from favour with their dealings with customers coupled with the digital currency boycott staged by the reserve bank of Zimbabwe which was later overturned by the Harare high court.
For three years, the trade has been operational, processing exchanges worth $20 million, it was reported that Golix raised $32 million through token sales, to propel its administrations and infrastructure throughout the African continent. Golix announced that is has expanded its operations across three other African countries (Kenya, South Africa, and Uganda) starting from Friday, 1 June 2018.
The head of growth of Golix, Panashe Tapera said that “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 is inspired by the vision to provide financial autonomy in the continent.”
Interestingly, just three countries out of 54 countries in Africa have cryptocurrency exchange while the remaining African counties are yet to understand the potential held by the blockchain innovation.
The Token Deal
Golix is set to tackle the problem of shortage of cryptocurrency set-up which is slowing down the adoption of digital currencies in Africa by spreading their services well across the entire African continent.
Golix lead of special projects, William Chui, recently said that the token sale was an idea the team set in place to make sure there are instant remittances and international payments through cryptocurrencies at lesser fees. William Chui’s said that;
“Since from the onset, our main agenda is to provide financial autonomy in Africa. The GLX token is going to be used to facilitate and realize the 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 transaction fee.”
Chui also explained that the GLX token would also be used to facilitate remittances and international payments at lesser fees, compared to the current banking methods, he further said that it would contribute significantly towards GDP growth in African countries.
As from Friday, 1 June 2018 at 10:00 GMT/UTC, the GLX token which is an Ethereum ER20 token will be available for sale on the Golix token sale website, valued at $0.05612. Prospective buyers have the option of using bitcoin (BTC) and ethereum (ETH) to purchase the GLX token.
During the token sale, about 1,274,240,097 tokens will be available, but just 637,120,097 which is about 50% of the available tokens will be sold to the public.
How Well Will The GLX Token Be Received In Kenya And Uganda?
Based on the outcome of several discussions and interactions with different people of both countries who are familiar with cryptocurrencies, it is fair to say that Uganda and Kenya are excited at the innovation and the new technology in their country.