Bittrex bought a 10% stake blockchain of Palladium
One of the largest cryptocurrency exchanges Bittrex invested in Maltese blockchain-the Palladium company, becoming the owner of 10% stake in the company.
In July, Palladium announced that in conjunction with e-sports bookie Unikrn and Bittrex is planning to place tokens at $ 150 million using the first ICCO, the launch of which was scheduled for July 25, 2018.
Palladium intends to become the first regulated platform for unified Fiat currency, cryptocurrency exchanges and banking services, giving customers the ability to manage the purchases using digital currencies and payments and to exchange scriptaction. The company wrote in its blog in July.
We are very glad to cooperate with such a major player. Investment in Palladium Bittrex – another proof that Malta can become a leader in the industry of the blockchain.
— said the founder of Palladium Paolo Catalfamo
In the same month Bittrex reported that the initial placement of convertible coins already approved by the Malta financial services (MFSA), and the project itself is regulated in accordance with EU rules.
Investors who take part in the ICCO, have the opportunity to convert tokens into equity after a certain time. In the case of Palladium, to exchange the tokens for the shares investors will be able 3 years after their date of issue.
Last month Bittrex became one of the members of the working group under the Association of stock exchange goods.