CEDEX Raises Substantial Funds Ahead Of Its Public Pre-Sale Stage
February 22, 18
(IDEX Online) – The Cedex.com Initial Coin Offering (ICO) has been able to raise a substantial amount while still in the private sale stage ahead of its public pre-sale stage.
A media report in Finance Magnates spoke of $20 million as having been raised.
Ronen Priewer, founder of Cedex.com, told the site: “We have raised a very significant amount to this point. The early sale to private entities is progressing well and approaching our target, while the stage of public and substantial sale remains ahead of us, as we attempt to reach our overall goal.”
A company called Techfinancials granted CEDEX a $400,000 loan last year, in an attempt to gauge the status of the project and to help it develop the necessary technology to achieve its goals.
In return for the interest-free loan, TechFinancials received the option to purchase up to 90% of a newly created holding company called CEDEX HoldCo. TechFinancials has three years from the date at which the loan was issued to exercise its option.
CEDEX is developing a blockchain-based online diamond exchange. Its goal is to implement technology which could turn diamonds into a tradeable asset class.
The high demand for CEDEX tokens during the private sale has led the company to increase the number of available tokens at this stage from 10 million to 25 million.
CEDEX is the first certified Blockchain based diamond exchange that focuses on bridging the gap between the traditional diamond industry and the innovative financial markets. With its extensive industry knowledge, CEDEX wants to engineer a ground-breaking change – enabling people to liquidate and trade in diamonds like any other financial asset, in a transparent and secure way.