Kyrrex, a global investing, payment and financial ecosystem and the world’s first digital bank, listed its KRRX token on HitBTC on Nov. 30.
Launched in 2018 by Viktor Kochetov and Mykhail Romanenko, Kyrrex is a crypto-fiat ecosystem that has become a wide set of products and services. It is a helpful, secure instrument for users who work with digital assets daily. Today, its main product is Kyrrex Crypto Exchange, where various cryptocurrency transactions take place.
Kyrrex has received the highest virtual finance asset (VFA) license from the Malta Financial Services Authority. This has positioned the company in such a way that it can provide services to investors with full confidence that users’ funds are safe. With the Class 4 VFA license, Kyrrex can serve its customers various crypto-related products and offerings such as a trading program, a deposit program, crypto payment services, and crypto-to-fiat and fiat-to-crypto exchange.
The KRRX token offers different conditions for interacting with Kyrrex services and functions and provides exclusive benefits for all KRRX holders. The token is listed on HitBTC, Kyrrex’s first exchange listing. Shortly, Kyrrex will announce additional agreements with other major exchanges.
Lock and release
The platform will lock the remaining 30% of tokens for four years, with subsequent releases every six months and availability on the platform.
Use of funds
Kyrrex will allocate 45% of the raised funds to the development of ecosystem products, 35% to marketing and legal support for obtaining licenses in new regions, and 10% to insurance funds.
Social Trading will enable users to follow other traders at a fixed fee. The payment methods are fiat currencies, cryptocurrencies or KRRX tokens.
Multi-Account Management will include the trading services of a manager or a trader in exchange for a share of the profit made.
The Referral Program will offer bonuses after a user brings in three or more of their peers.
Online Banking, expected in Q4 2022, will offer a 20% cash-back facility, with 3% on card transactions. Users who pass verification on the exchange will receive 20 KRRX tokens.