On 8th October 2017, BANKEX raised around eight million dollars privately to launch the pre-sale of the tokens. BANKEX is the Top-50 Fintech Company.
On October 5th, the company which is decentralized BaaS (Bank as a Service), had procured eight million dollars with all the commitments, both hard and soft, as a privately done pre-sale. The participants in this pre-sale can make use of both Ethereum and Bitcoins and they are expected to earn 65 thousand to 130000 Ethereum.
A Japanese Blockchain technological company, Soramitsu, is known to provide their services to the government and other institutions involved in managing the contracts and virtual assets. It is one of the partners of the presale which is done privately. The Japanese firm is also involved in the Hyperledger and hyper ledger Iroha by making them the first contributors and the developers of the firm. By merging the two firms together, BANKEX aims to bring out an expansion into markets and to incorporate various technological advancements.
BANKEX has been supported by the industry at large and the partners include Microsoft, Dostavista (Crowdsource delivery service company), symphony Foundation (consisting of US banks and Moscow Exchanges). BANXEX was considered as the Top-50 Fintech Enterprise worldwide in May 2017 by the pathfinding ranking of the financial IT.
By proving cost-efficient and novel services for the banks and financial institutions, BANKEX deploys efficient contracts thus leading to the assets being tokenized. This platform allows in sheet crowdfunding and the finance of the chain and infrastructure.
The participants find it hard to trust the organization due to the misleading data, like ratings in the market, audits and rates which are being plagued by the Fintech firms. In order to find a solution to all the problems, BANKEX will use a protocol of proof of assets that will help in the creation of new assets and contract which leads to a decentralization of the market. By incorporating the decentralized BaaS platform, it aids in liquefying the illiquid asset and those that are not fungible.
The assets aimed for tokenization are those which can generate money with around 100 million dollars. But with the protocol- proof of asset, either cars or real estate or any other asset can be used for converting into tokens. In order to benefit to a large extent with the tokens, the protocol can be linked with ‘Bank as Service’. This collaboration will provide an advantage of the infrastructure you possess. The ecosystem of BANKEX aid to the agreement between the owners of the assets distributes the smart assets and with the use of tokens, they can use it as a tradable money option for all the ultimate products.
In order to protect all the investors, BANKEX has partnered up with Group IB to reduce the risk associated with cybersecurity and other web related issues. The investors are made to go through a detailed procedure of registration. Even though sensitive details are not collected, after registration, every participant will get an email about the instructions which has to be followed during the pre-sale. The email will also contain the address (ETC or BTC) to where the contributions will have to be sent to.
The BANKEX pre-sale started for all public contributions with a discount option at the below-stated rates:
- For 500 Ethereum contributions, 788 BKX for one Ethereum and this offer can be availed until they raise 20 million dollars.
- For 250 to 499 Ethereum contributions, 700 BKX for one Ethereum and this offer can be availed until they raise 40 million dollars.
- For 100 to 249 Ethereum, 625 BKX for one Ethereum
Ethereum contributions that are below 99 will not be included in the pre-sale but will be withheld until the generation of the token starts.
On 16th October this year, the date of the pre-sale of BANKEX will be announced.
The board of directors of BANKEX includes experts like Sergey Sergienko (Chronobank founder), Sasha Ivanov ( Waves founder), Nehemia Kramer ( Ethereum investor), Chris Skinner ( Market strategist), Gabriele Colombo (Director of Symphony), Michael Ostrovsky and Peter Crampton who are the educational specialist in Stanford and Maryland University.