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Damex App Scores Gibraltar License, Announces IEO on April 19, 2023

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Wed, 29/03/2023 - 10:46
Damex App Scores Gibraltar License, Announces IEO on April 19, 2023
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Digital asset platform Damex has announced an IEO for April 19th, 2023 that will take place through its app and other launchpads. The app was developed for secure and low-fee crypto-to-fiat operations across the globe. 

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The company is also one of only 14 to obtain a Gibraltar DLT license. This license is authorized by the Gibraltar Financial Services Commission (License Number 24738) as a provider of distributed ledger services.

The company is fully compliant with Europe's MiCA (Markets in Crypto Assets), one of the strictest regulatory frameworks globally. Amid another regulatory crackdown on cryptocurrency exchanges, scoring a European license is a crucial accomplishment for the adoption of Damex’s services.

Damex started delivering its services in the EU and EEA as Damex App, a retail-focused crypto product. The Damex application is a gateway for fiat currencies into the Web3 ecosystem: it allows users to make fiat deposits (IBAN), top up their crypto Visa card, and even obtain rewards for in-app activities.

Damex is also among the first crypto-to-fiat processors to integrate native move-to-earn modules. Users can complete step challenges in a gamified interface and obtain rewards for their activity.

With a European license obtained, the Damex team is going to organize an initial exchange offering (IEO) of its native governance and utility token. The token sale will be available to users of the app and will launch on two Tier 1 launchpads that will be announced soon by the company. 

The IEO will take place on Wednesday, April 19, 2023. All updates on the IEO status, schedule, allocations, and whitelisting processes will be shared on Damex’s official Twitter account.

Aside from the IEO, the team of Damex also announced NFT airdrops to all users of its wallet as well as Premium Membership status and the opportunity to take part in offline events backed by the Damex label. In the future, the company is going to activate the instrument for regular payments (now available in third-party integrations) and launch its own Visa card program.

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