Bitxoxo has recently encountered regulatory restrictions in India, this has lead the company to incorporate themselves in Australia, Bitxoxo also recently launched a Token Sale to fund international expansion.
The Indian government has acknowledged the technological advancements the country would benefit from by the adoption of blockchain technology. The country’s central bank, Reserve Bank of India (RBI), the Indian central bank has asked Indian banks to not be involved in the supporting of businesses involved with cryptocurrencies.
This has resulted in India’s largest exchange Bitxoxo shifting its entire operations to Australia, where they have recently become incorporated in the new country. In addition, Bitxoxo has also had its eyes on expanding into the Middle-East and South-East.
The Bitxoxo team have been on the precipice for the completion of all the legal compliance associated to the exchange oversees.
The Bitxoxo Token Sale
Bitxoxo recently launched a Token Sale, which has already seen a successful Pre-Sale round which came to an end on the 30th April 2018, Selling 5,000,000 XOXO tokens.
The Token event was held to raise funds for the expansion and the development of new products and services. The Bitxoxo Main-Sale will go live on the 5th of May, 2018 and will last till the 31st of May, 2018, with a further 10,000,000 XOXO tokens available at a minimum price of USD $2.
A Memorable Move
Bitxoxo received help from prominent influencers and investors in the cryptocurrency ecosystem, Roger Ver (Founder & CEO, Bitcoin.com) and Mate Tokay (COO, Bitcoin.com). There role in the exchanges transition was vital.
Bitxoxo view for the future is a world where Bitcoin and BCH have become the basic monetary asset on a global scale, bringing freedom to users who will no longer have to depend upon the state or banks to transact with each other. Contributors taking part in the Bitxoxo token sale will be funding the creation of a BCH Marketplace, BCH E-University Certification Programme and BCH enabled PoS system.
Additionally these funds will be deployed in taking Bitxoxo to markets in the Middle-East, and South-East regions of the world. Hoping to expand the company’s operations in Australia. The company also intends to set up an incubator to invest in, grow and promote blockchain startups.
Bitxoxo has been a key player in the cryptocurrency exchange arena in India since July, 2016, the company was first incorporated by Hashem Rehman and Mohammed Rezwan, these significant players went on to hold the titles of CEO and COO.
Bitxoxo has reached an impressive 100,000 active users in late 2017, the company launched the mobile version of its platform for Android and iOS .
Bitxoxo open its doors to cryptocurrency enthusiasts in 2016 , Bitxoxo Bitcoin Exchange aims to provide a seamless exchange service for all its users. Operating on a 24/7 basis through its unique chat, emails and phone support. Bitxoxo achieved milestones in a very short span of time like the Token Sale Launchpad, Physical Gift Cards, Referral System and XOXO Token Sale.
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