Kyrrex Secures Class 4 VFA License As It Prepares To Launch On Exchanges

Kyrrex, a crypto-fiat ecosystem that is bridging the traditional and digital finance world, has received the highest Virtual Finance Asset (VFA) license from the Malta Financial Services Authority (MFSA). This has positioned the company in a way where they can provide services to investors with full confidence that users’ funds are safe.

Kyrrex joins a short list of companies that have received such a recognition. It will exercise its newly acquired Class 4 VFA license under Real Exchange Ltd, through which it will provide VFA services to both new and existing users.

Kyrrex’s main offering is Kyrrex cryptocurrency exchange where users can carry out a variety of cryptocurrency transactions. With the Class 4 VFA license, Kyrrex is able to serve its customers varied crypto-related products and offerings like a trading program, a deposit program, crypto payment services, as well as crypto-to-fiat and fiat-to-crypto exchange.

Viktor Kochetov, CEO and founder of Kyrrex said; “For Kyrrex, the Class 4 VFA License is the result of many years of hard work and sacrifice in the field of digital assets. In the last 5 years the company has worked hard in building its infrastructure, hardware and software. We showed the authority that Kyrrex can handle the highest level of strict requirements and long term commitments requested. Moreover, the license helps us to reach one of the main targets in our road map to success — to allow Investors and traders to be convinced that their funds are under protection and that all transactions are absolutely legal. This is a pivotal moment for our company that will allow Kyrrex to develop its full potential as a leader in this field, thanks to the highest level of license we will be able to expand the range of our services for all types of users. We are building a fully regulated ecosystem that will ensure safety and fairness pricing to all”

Listing On Exchanges

Kyrrex is set to list on exchanges after two rounds of presale. The first presale round had been successfully concluded and subsequently, the project moved towards its second resale. This presale round was announced on October 25th, offering KRRX at a discount.

Tokens were sold to investors in the second presale round at $0.7 per coin. However, upon launch, one KRRX token will be listed for $1 for each token. The last round, which would see KRRX officially start trading on exchanges, will see 150,000,000 KRRX moved into the market.

In total, only 50% of KRRX tokens will be available in the market upon completion of the three public rounds. The other half of the total supply will go towards the operational needs of the project and a lock and release mechanism. 30% of total tokens will be locked away for four years, with a subsequent release every six month of KRRX tokens until the supply in the lock and release is depleted.

Benefits Of Holding KRRX

Holding KRRX tokens opens users up to benefits on the Kyrrext platform. These benefits are exclusive to KRRX holders and makes interacting with Kyrrex’s products and services a more enjoyable experience.

For one, holding KRRX tokens automatically makes the holder eligible for lower trading fees. Commissions charged to traders on the crypto exchange will be lower than those who do not hold the tokens.

Holders are divided into categories based on the number of tokens they hold. These categories are General, Beginner, Pro Trader, Insider, Institutional, and Market Maker. The higher the volume of KRRX tokens held, the lower the commission charges on trades. Traders who hold greater than 250,000 KRRX tokens will enjoy as high as 60% lower commissions than the average trader.

Kyrrex Key Features

Kyrrex offers some key features to traders to make their experience a smooth one. These provide opportunities to earn, learn, and also services to make the lives of the users easier.

Social Trading: This feature allows a trader to follow other traders for a fixed fee. They can choose to pay the fee using fiat, crypto, or KRRX tokens. Kyrrex does not earn a commission from this as all fees go to the traders.

Referral Program: Users are eligible for bonuses when they invite three or more traders to the platform. This is currently not available but is expected to debut on the platform as early as Q1 of 2022.

Multi-Account Management: This Kyrrex service features a manager or a trader that carries out trades for users in exchange for a share of the profits. Traders using this feature will be able to receive bonuses when they accept the KRRX tokens.

Online Banking: This feature is yet to be released but is expected to launch in the fourth quarter of 2022. Kyrrex online banking will offer users a 20% cashback on all purchases made within the app, in addition to a 3% cashback on all card transactions. Discount, increased cashback, and payment widgets will all be available in the online banking feature, alongside a bonus of 20 KRRX tokens for all verified users.

To learn more about Kyrrex, visit;

Website: https://kyrrex.com/token
Telegram: https://t.me/kyrrex_official_en
Twitter: https://twitter.com/Kyrrexcom
Instagram: https://www.instagram.com/kyrrexexchange/
Facebook: https://www.facebook.com/kyrrexcom

 

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Source: Live Bitcoin News