The London Block Exchange, LBX, is proud to announce that they are releasing their own stablecoin, LBXPeg, which will be tied to the value of pound sterling (‘GBP’) held in an auditable UK bank account on a 1:1 basis.
LBXPeg is required in the market as although the appetite for stablecoins is growing, trust in current projects remains flat. Through opaque management structures, distribution schedules and auditing processes, many available stablecoin offerings are inadequate for the needs of businesses, traders and consumers. They need a product that they can trust to be managed in a correct and compliant manner.
LBXPeg will allow users to transfer the digital equivalent of GBP quickly, easily and on a global scale through a decentralised network. It will make the transfer of money traceable and trustless and, as such, has a wide range of use cases; from payments to merchants to a smart contract-based distribution of dividends for a company’s shareholders.
LBX will be initially utilising the Ethereum blockchain to develop, distribute and manage LBXPeg as the platform is transparent, efficient and close to reaping the benefits of its upcoming scaling solutions. LBXPeg will be an ERC-621 token – building upon the ERC-20 standard – which will grant the required flexibility in the total supply to match the quantity of GBP held in the segregated bank account. LBXPeg will also be issued on other blockchains where compliance controls can be maintained.
After LBXPeg’s initial release, LBX will explore tying the product’s value to accounts which hold other fiat currencies – such as EUR and USD - to improve both its scope and stability.”
LBX opened in November 2017 for OTC trades and in addition to UK banking and a user-friendly app backed by world-class London-based customer service. It also follows rigorous KYC/AML protocols. Members also receive its acclaimed daily market report, which can also be viewed on Telegram on the LBX News channel.
This offer is based solely on information provided by the offeror and other publicly available sources.
The token sale or exchange event is completely independent of ICOholder. ICOholder is not involved in any way, including technical support or promotion.
We list token sales from entities with which we have no relationship to help users track overall activity within the token sector. This information is not intended as advice, and you should seek professional or specialist guidance or conduct your own due diligence before making any decisions based on our content.
Any terms and conditions regarding token acquisition are solely between contributors and the token issuer. ICOholder is not the seller of these tokens.
ICOholder is not legally responsible for any representations made by third parties about any token sale. Any claims for breach of contract must be directed against the listed token issuing entity.
If you have concerns about the nature, legality, or propriety of a token sale or the involved individuals, please contact info@icoholder.com with detailed information.