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TechFinancials' CEDEX sells 25m tokens in pre-sale event
AIM-quoted software developer TechFinancials said its investee CEDEX had hit its target of selling 25m tokens in its pre-sale event last week, with a further 25m tokens having been made available after the main sale kicked off on Saturday.
CEDEX, a blockchain-based on-line exchange for diamonds in which TechFinancials held a 2% stake together with an option to acquire a further 90%, sold the 25m tokens at a price of 900 CEDEX to one Ethereum.
Token sales were set to run until 17 April or until the hard-cap of 50m tokens was reached.
The pre-sale utilised TechFinancials' crypto payment processing and crypto feed products technology and enables the processing of Bitcoin, Ethereum and Bitcoin cash, the company said in a statement.
TechFinancials facilitated multiple technological aspects of the token sale, including smart contract development, website development, and back office management.
Asaf Lahav, TechFinancials' chief executive, said, "We are excited to announce that the CEDEX pre-sale event has completed, using TechFinancials' technology, which has been developed over the past six months since we entered the blockchain market. Whilst offering CEDEX our proprietary technology, we are pleased to have been able to provide the company with a 360° solution in order to meet its operational needs."
As of 1200 GMT, shares had dived 32% to 17.00p.