Bitfinex to list utility token UNUS SED LEO

Bitfinex, a world’s leading cryptocurrency trading platform announced on 17 May that it would support trading of UNUS SED LEO starting 20 May, at 08:00 UTC.

Bitfinex informed that the utility token UNUS SED LEO was designed to enhance the capabilities of its community. This could be achieved by providing utility for those seeking to maximize the output or capabilities of the Bitfinex trading platform. The token would be tradable against Bitcoin (BTC), US dollar (USD), Tether (USDt), EOS, and Ethereum (ETH). Holders of the token would be benefited from reduced fees across much of Bitfinex.

Bitfinex quoted on the development as –

“Upon publishing the UNUS SED LEO whitepaper last Friday, May 10th, Bitfinex conducted and completed a private sale of 100% of outstanding UNUS SED LEO tokens in exchange for one billion USDt worth of Bitcoin, USD, and USDt. The overwhelming response and expedient execution of the token sale represents a new milestone for Bitfinex and the greater Blockchain community.”

Bitfinex was compared to another exchange giant Binance which executed nearly the same moves with its Binance Coin (BNB) token. Another aspect emulated was the preferential treatment in any future token sales. Bitfinex indicated that even after bringing such an effective token to the heart of the community, it would still focus on growth. The exchange would remain dedicated to developing its integral infrastructure for their industries.

Bitfinex informed that the utility token UNUS SED LEO was designed to enhance the capabilities of its community.

In February, Bitfinex reported that a number of bitcoins that were unlawfully taken in the August 2016 security compromise had been returned to Bitfinex by the US government following law enforcement efforts by the authorities. Bitfinex highlighted that the hack of 2016 was given due diligence with the firm collaborating with international law enforcement agencies to provide intelligence and assist with the investigations.

Last month, TRON Foundation announced about supporting security tokens on its blockchain, facilitated by Swarm, a blockchain technology company. TRON sidelined by stating that Tether would be launching USDT-TRON digital coin in partnership with Bitfinex. This stablecoin would be based on Tether technology and would allow purchasing security tokens on TRON.

Bitfinex threw light on an entity working under its brand, iFinex. iFinex started operations a couple of years back making it one of the longest-standing exchanges in the blockchain industry. Since then, iFinex, through its trading platforms, had become one of the most reputed companies in the cryptocurrency sector. Bitfinex extended an invitation to be a part of its various social media channels for staying updated.