Trading to open for exchange native token on April 3rd, 2019 at 1:00 PM UTC.
Institutional crypto and fiat currency exchange, DRIVE Markets, announced its native token, DRIVE Coin (DRV), will open for trading on April 3rd, 2019 at 1:00 PM UTC (2:00 PM GMT).
DRV will list at $0.14 with a circulating or session supply of 70M coins. DRV will be available to trade on DriveMarkets.com and through the company’s liquidity and trading desk partners
As with exchange coins including BNB from Binance, DRIVE Markets has committed to trading fee rebates and an automatic buyback that will reduce circulating supply. At the time of writing, BNB is trading at $17.02 and approaching all-time highs.
The total supply for DRV is 500M with a release schedule of up to 24 months for key supporters including employees, advisors, and investors.
DRIVE Markets, which recently announced the launch of its high frequency, crypto and fiat currency exchange, offers futures and spot trading for Bitcoin, Litecoin, Bitcoin Cash, Ripple, and Ethereum.
The Company has teamed up with forex giants including KX and MetaTrader to entice forex traders to crypto. The forex market, which trades up to $5trillion daily is frequently compared to crypto but forex traders have been sidelined from crypto due to a lack of high-frequency trading and deep liquidity.
“At DRIVE, our goal is to bring forex traders to the crypto markets by providing the speed, reliability and liquidity they are used to. DRV is one of the first cryptocurrencies to be available for high frequency trading and we’re excited to bring that to the industry,” said Kate Hiscox, CEO at DRIVE Markets.
Registration is open on DriveMarkets.com and users can sign up and prepare for the first day of trading for DRV.
“As an institutional exchange, we’re built for volume and robust trading which means traders of all position sizes have an opportunity to pick up DRV on the first day of listing,” states Marco Sylvestre, CTO at DRIVE Markets.