Award Winning Student Accommodation Provider Bypasses Banks With Bitcoin
In the first ICO of its kind the Kexgill Group confirmed the launch of KexCoin (KEX): A new digital asset linked to UK student accommodation.
For almost 40 years Kexgill, the award winning student accommodation company, have been providing safe affordable accommodation for University students across the UK.
Simon Lee, KexCoin Founder, explains the vision behind the project:
“Our vision is to dramatically speed up the process of raising money to purchase student investment properties. Through the limited sale of KexCoins, listed on the BitShares network, participants from all around the world will be able to participate. Raising money via a token sale means we will be able to purchase investment properties debt free with no liability to financial institutions. This new model is a direct challenge to the legacy of commercial control of traditional financial institutions, opening exciting new opportunities and bringing crypto to the mainstream.”
By renting properties to university students, the portfolio will generate income. KexCoin tokens will derive their value from a commitment to buy back tokens using 50% of net profits generated from this income. The tokens bought back will then be burned – meaning KexCoin holders will get an increasingly scarce digital asset, driving up the value as a result.
The remaining 50% of profits will be reinvested to expand the portfolio and speed up the buyback process.
The start of the ICO crowdsale of KexCoin will begin on the 15th September. Dates for each buy back will be announced in advance so KexCoin token holders have sufficient time to secure their sale orders.
For more information, please visit www.kexcoin.com
Company name: Kexcoin Ltd
Company contacts: Simon Lee
(+44) 01482 343818
56 Cottingham Road
This is a paid press release. Cointelegraph does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company. Cointelegraph is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.