Users have spent 100 BTC to purchase 85,000,000 Paytomat tokens (PTI).
On April 1, crypto exchange EXMO conducted the first initial exchange offering (IEO). Investors bought out 85,000,000 Paytomat tokens (PTI) (worth 100 BTC) in 2 minutes, according to company’s release. On April 4, the following currency pairs will be available for trading: PTI/BTC, PTI/EOS and PTI/USDT.
Paytomat is an infrastructure platform enabling the use of cryptocurrency in daily life. The company offers solutions for payment services allowing instant payments in multiple cryptocurrencies.
“We are pleased to become the pioneers in the cryptocurrency market hosting the first IEO in Eastern Europe. This time we closed the token sale with Paytomat ahead of time. In my opinion, this is an amazing sign that the market is gradually emerging from prolonged stagnation,” said Sergey Zhdanov, CEO of EXMO exchange.
IEO, an alternative to ICO, has been gaining popularity since the beginning of the year. Like ICO, it’s a way to raise funds, but rather than the startup itself going about searching for investors, the exchanges pick up promising projects and promotes them among their user base.