TechFinancials' CEDEX Completes Sales Event With 25M Tokens Sold

19th Mar 2018 11:04

LONDON (Alliance News) - TechFinancials Inc, a supplier of financial trading solutions, said Monday that CEDEX' pre-sale event has completed after selling of 25 million CEDEX token.

TechFinancials shares were down 23% at 19.17 pence per share on Monday.

CEDEX is a blockchain-based on-line exchange for diamonds and TechFinancials has a 2.0% intereset in Cedex Holdings Ltd and an option to acquire a further 90%, which would give TechFinancials up to 92% of CEDEX or 87.4% on a fully diluted basis.

Token were sold at price of one Ethereum for 900 CEDEX tokens, hitting the target initially announced from the company.

With the completion of the pre-sale event, the main sale started on 17 March 2018 and will continue to run until 17 April 2018, or until the hard cap of 50 million CEDEX tokens sold is achieved.

The token sale utilises TechFinancials' proprietary technology of crypto payment processing and crypto feed products, which enables the crypto currency processing of Bitcoin, Ethereum and Bitcoin cash throughout.

In addition, the company has facilitated all other technological aspects of the token sale such as smart contract development, website development, and back office management.

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