OXFORD, England, April 2, 2015 /PRNewswire/ --
A brand new digital currency exchange goes live on April 2.
LEOxChange has been established by the founders of the new digital currency LEOcoin.
Already some 150,000 entrepreneurs are actively using LEOcoin, and over 30,000 merchants across the world have agreed to accept LEOcoins as payment.
LEOxChange will list major fiat currencies including Euro, sterling and US dollar and other digital currencies such as Bitcoin.
Headquartered in Oxfordshire, UK, LEOcoin will have greater usability and accessibility compared to other digital currencies. It is proving particularly attractive to emerging start-ups and entrepreneurs - because there are no intermediaries charging commissions, it will also help small businesses trade internationally. To date the financial barriers to this have been significant; LEOcoin will change that.
A new survey undertaken by YouGov, reveals that almost 50% of small to medium sized enterprises in the UK who trade internationally said transaction fees were a key concern; and 43% who transacted using debit or credit cards were also worried about the associated costs.
The key features of LEOxChange are:
- Instant transactions: direct trading between LEOxChange members (which includes suppliers and retailers) means there are no intermediaries so you can set your own bid and offer prices and the volume you want to trade
- Zero Commission: no commission or transaction fees on purchases. A small commission on sales.
- Transparent and easy to use: easily understood bid and offer prices and quantities are on display. Full details of the trades completed are visible on an online ledger.
- Secure: high level encryption systems keep all transactions and records secure, keeping your trading environment and personal data safe.
LEOcoin has committed to releasing a maximum of 28,800 LEOcoins per day for a limited period of 99 years, equating to a total of 1bn LEOcoin, after which no more will be generated. This means it is designed as a deflationary currency that will increase in value as demand increases.
Dan Andersson, co-founder of LEOcoin, said "The launch of LEOxChange today is another important step in the evolution of the global digital currency market which to date, if we are honest, has been received somewhat sceptically.
"We said at the launch of LEOcoin that the industry needs to do much more to establish its credibility - we're not surprised that the YouGov survey showed that whilst SMEs find transaction fees a concern when doing business abroad, most have no intention of using a digital currency.
"We believe the complexity and inaccessibility of digital currencies to date is the main reason behind these numbers, and also that we will change that perception over the next five years with LEOcoin.
"The gap between those businesses worried about transaction fees and yet reluctant to use a digital currency is the gap we believe LEOcoin will fill. It is designed to make life easier for entrepreneurs who want to trade internationally but have to put up with very high transaction costs. Our message to them and their customers, is that there is a better way of doing business.
"We have had a fantastic response since we launched the coin in London - introducing more competition and choice into the digital currency marketplace can only be a good thing."
Contact: Sofia Costa, +44(0)117-907-3400, firstname.lastname@example.org