T.E Markets Limited, a Holding Company, has launched its cryptocurrency known as XTEMCoin. The digital assets’ pre-sale started Monday, June 28, on their website.
The Seychelles registered company has projects running in the U.S., South Africa, Zimbabwe, Zambia, Nigeria, Kenya, the Democratic Republic of Congo, and soon Ghana. It markets itself as “an African multifaceted organization, primarily focused on re-writing the African story.”
T.E. Markets aims at leveraging disruptive technology to provide a solution that is currently non-existent in the African market. According to Ian Mvula, XTEMCoin founder, there is no one-stop shop for trading a variety of commodities. These include agricultural commodities, especially those of African origin, indices, stocks, cryptocurrencies, and forex.
Ian, who has been in the financial and crypto markets for over two decades, showed the uniqueness of the coin saying, “Unlike other coins, XTEMCoin is not just going to be a naked cryptocurrency but rather will have real intrinsic value as it will be synthetically indexed to defined commodities exchanges, indices, stocks, forex cryptocurrencies and also enjoy the full credit and might of T.E Markets Limited and its various projects.”
Most cryptocurrencies are critiqued for their lack of fundamentals. This fact ignited the motivation behind the development of XTEMCoin, according to Ian. T.E. Markets is, therefore, developing the first African Consolidated Exchange (ACEX) for trading all items across various major assets, inclusive of African commodities. XTEMCoin will be the ACEX’s native currency and the platform’s most common means of exchange.
“This is a major fundamental as the synthetic link for the XTEMCoin currency provides it with a much better source of intrinsic value than even fiat currencies,” Ian said.
Features of the XTEMCoin include a deflationary model starting 2022, to control its circulating supply. It will also have liquidity staking pools to reward coin holders. Additionally, certain amounts of rewards will go to those holding specified amounts of the coin within a defined timeframe. Other characteristics are security and transparency, just to mention a few.
XTEMCoin will run on the Binance Smart Chain (BSC), thereby reaping the benefits of speed, cost-efficiency, and scalability. Its private sale will run between June 28 and July 31, whereas the public sale will start on September 1 in addition to its enlisting on major crypto exchanges. T.E Markets aims to raise $500 million during the ICO.
Currently, the coin is available on the T.E Markets website. More information on XTEMCoin is available on their White paper.