CoinDesk is reporting that The Crypto Exchange is going live today with a $50m bitcoin cash, $50,000 of bitcoin and ether token sale.
The company is planning to raise $250m through a crowd-funded token sale on the Ethereum blockchain.
The first sale will be taking place on the 26th of May.
The tokens will be available to purchase at a price of $5,000 USD per token and will be listed on the company’s website.
The cryptocurrency exchange is being supported by investors including BitPay, BTC China, Circle, CoinFund, Cryptopia, Coinify, Blockchain Capital, Bitstamp, Bitfinex, BitPay and others.
The CryptoStore will be based in the U.S. but is planning a U.N.-certified facility in London to allow the company to export to other countries.