September 18, 2020

Binance Exchange Announces Blockstack Project Token (STX) Support

The Binance cryptocurrency exchange announced the listing of Stacks (STX), the native token of the Blockstack project. Trading STX in pairs with Bitcoin, USDT and BNB will start at 04:00 AM UTC on October 25, deposit acceptance is already open.

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As the exchange emphasizes, the listing price was 0 BNB.

According to information on the Blockstack website, STXIt will also be available for trading on the Hashkey Pro institutional exchange, however, as in the case of Binance, the purchase and sale of the token to US residents is not available.

Recall New York Blockstack Becomes Firsta company that has received the approval of the US Securities and Exchange Commission (SEC) to conduct a token sale in accordance with the established provision “A +”. It allows small companies to raise funds from the general public, while observing less stringent regulatory requirements than during an IPO.

As part of the token sale, Blockstack received $ 15.5 million.by selling over 74 million Stacks tokens to US investors. The company received another $ 7.6 million from investors from Asia in accordance with Regulation “S”.

This token sale became part of a wider investment round, in which Blockstack raised $ 23 million.

Blockstack startup was created in 2013 andoriginally called Onename. The project, which is also known for its work on decentralized Internet, previously managed to attract $ 50 million investment from well-known representatives of the blockchain industry and venture capital companies, including the Winklevoss brothers, Union Square Ventures, Digital Currency Group and Version One.

In February 2019, the company announced ongoing work on a new distributed protocol called Stacks, which uses the hash power of the Bitcoin network in combination with the Proof-of-Burn mechanism.

In September, the Blockchain cryptocurrency wallet provider announced the start of support for Stacks tokens in the product line for retail and institutional investors.