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  • iFinex Initial Exchange Offering (IEO) to raise $1 billion for the launch of three products in June.
  • Derivatives market product is in beta testing and will be released in June.

iFinex, the company behind Bitfinex exchange has expressed plans to carry out “an Initial Exchange Offering (IEO) in a bid to raise $1 billion. The company publicized the attention on its website including a detailed official white paper. The information on website states that 25 developers working on the project. In addition to the token sale, the firm is also working on other ventures and products that will see the light of day by June.

iFinex says that it is making great strides in beta testing of the products and that the community can expect at least three projects to launch soon. Significantly, the planned derivatives market product will give qualified users an opportunity to hedge as well as buy and sell using a 1:100 leverage. The product is expected to launch in June as beta testing is in progress.

In addition to the derivative market product, iFinex is also working on an EOS-based crypto exchange which will utilized EOS.IO protocol. This product is also in the beta testing phase and will be released in June.

The third project is the iFinex IEO platform that will be used to put investors through to new token sales in the market. However, only jurisdictions that permit such products will have access to the system.