Byte Power X Hopes to Become First Cryptocurrency Exchange in Australia To Launch Via an ICO
The Byte Power Group (BPG) is a diversified technology solutions provider developing solutions in some of the most advanced technology. They develop business solutions and applications for healthcare, banking, tourism, telecommunications and governmental bodies. BPG deploys business activities in four sectors, big data, food and beverage, power management and cryptocurrency.
The company Intends to conduct an Initial Coin Offering (ICO) to fund the development of their cryptocurrency exchange Byte Power X. The exchange will offer USD and AUD trading pairs once launched in which registered users can sell crypto to fiat. Crypto-to-crypto trading pairs such as Bitcoin-to-Ethereum and Bitcoin-to-Litecoin will also be available on the platform for those seeking to exchange Bitcoin.
The platform will be accountable to the Australian Securities Exchange (ASX) which recently issued a query letter to BPG to satisfy their compliance with ASX listing rules. The query was to determine the nature of the ICO and the classification of the token sale which the company believes not to constitute as security - this was clarified in a statement back to ASX.
The crypto space is welcoming new exchanges entering the market every month with new innovations to their interface or systems. More exchanges will help investors sell Bitcoin as it increases liquidity and availability. With more options available the market is surely to open to a larger audience.
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