Forbes: Cryptocurrency OBITS Adding 'Fiat Gateway' After Robust Crowd Sale

Market maker and cryptocurrency OBITS is celebrating the end of its crowdsale with its first buyback, a dividend option and a new fiat gateway on FinTech DEX OpenLedger.

In just a few weeks from now this February the first and potentially “last buyback” of fledgling cryptocurrency OBITS is expected to occur, whereby an anticipated dividend option will be possible to exercise on the world’s first decentralized financial trading platform, the BitShares 2.0 platform OpenLedger. But with an imminent fiat gateway development things are now poised for a further step up.

According to OBITS issuer and market maker, CCEDK, a Danish crytocurrency exchange, the OBITS crowd sale has so far managed to generate total public sales amounting to around 645 Bitcoin (BTC) – equivalent to around $237,000 (c.€217,000/£166,000) as of today. This has been spent purely on development costs and enhanced user experience.

The exchange reveals that it is expected that “any future profits made will be utilized primarily as a market maker on the platform.”

Specifically, the buyback will take place on the base of a minimum 1 million (m) BitShares (BTS), starting from 10.00am GMT +1 (06.00am EDT) on February 2, 2016. Sell orders are expected to be placed on February 1, 2016. (Note: The buyback will also involve an element of Bitcoin (BTC) of around 10%, with 90% being BTS).


Read full article at Forbes