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NuMoney Exchange

An Asian Cryptocurrency Exchange Token

NMX token is an ERC20 token that NuMoney Exchange minted as a token for fee discounts for future transactions on NuMoney Exchange. These tokens are then sold on NuMoney Exchange token to bootstrap the exchange's liquidity.

2 1 expert rating
Benchy 2.7
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3 days 8 hours left
2018-08-03 - 2018-09-28
1 NMX = 0.01 USD
Soft cap
10 000 000 USD
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About NuMoney Exchange

Born out of frustration over our inability to purchase cryptocurrency conveniently, we started NuMoney as an over-the-counter service. Running NuMoney's OTC service was straightforward:

  1. Acquire a cryptocurrency liquidity provider
  2. Fund our account via wire transfers
  3. Resell cryptocurrency at a spread In the first 2 months, we crossed S$1.2M in turnover.

In the first 2 months, we grew so rapidly that the points of failure became naggingly obvious. Neither banks nor liquidity providers appreciate high-volume, rapid movements of cash. Particularly so if you run a cryptocurrency startup. So we soon encountered problems with both the liquidity providers and our banks. Nevertheless, this fast growth demonstrated a huge demand for cryptocurrency in Singapore. For us to satiate this demand, we have to eliminate these points of failure.

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