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Zimbabwe’s Crypto Exchange, Golix Launches its $32 Million ICO



Golix, Zimbabwe’s cryptocurrency exchange platform had been in the news recently after taking the Reserved bank of Zimbabwe to court over an unlawful ban. However, Golix is going  ahead with its planned token sale which started at the beginning of the month. The exchange aims to expand to Kenya and Uganda as well as raise $32 million.
Golix had ceased its crypto operations after the Reserve Bank of Zimbabwe banned banks from accepting cryptocurrency transactions. Therefore it couldn’t proceed with its planned Initial Coin Offering. But now, the spokesperson for Golix, Nhlalwenhle Ngwenya revealed, “Zimbabwe’s digital currencies pioneer, Golix is raising $32 million through a token sale in, a bid to finance cryptocurrencies infrastructure across the entire African continent.” Golix has explained that from June 1, 2018, it’s tokens, the GLX token, which is an Ethereum ERC20 can be purchased from the Golix token sale website.
William Chui, the head of special projects at Golix explained, that GLX token is being sold at $0.05612 with about 1.2 billion tokens but only 637,120,049 have been availed for sale during the current and initial token sale. Chui said that potential buyers can “use their bitcoin (BTC) and/or ethereum (ETH) to buy the GLX token…People from respective different countries will be able to buy the GLX token from the exchange using their fiat currencies. The GLX token will be used to buy other Altcoins in the exchange, all this will be done at zero transactions fee.”
On the other hand, Panashe Tapera, the head of growth at the exchange platform says, “As part of our strategy starting from Friday 1 June, people in Kenya, South Africa and Uganda will be able to start trading from Golix. This is one of our plans to be the leading exchange in Africa, which inspired by the vision to provide financial autonomy in the continent.”

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Image credit: Pixabay


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