The MXC Foundation took another step towards mainstream adoption today, formally listing on the German “Deutsche Börse” Stock Exchange. This news follows hot on the heels of the recent record IPO listing of Coinbase on the US Nasdaq, giving it a debut valuation of almost $100 billion.
The Berlin-based MXC Foundation is fast securing its position as an IoT leader across Europe. Following the support of its highly successful hardware subsidiary, MatchX, the MXC / MatchX multi-token hardware mining combination has fast become a sales giant in its first year of operations, dominating several countries throughout Europe. With the company impressively boasting complete coverage of the Netherlands as well as saturating other markets, they now look to strategically move into the European financial industry, listing on the German “Deutsche Börse”.
The MXC Foundation is currently undergoing a renaissance heading into the final quarter of 2021. With the Foundation itself, proposing Q4 will be one of the immense growth periods in the company’s history. The anticipation is enormous, with many industry experts suggesting that the current token price is undervalued. A further analysis of forthcoming releases such as Low-power Bitcoin mining, device provisioning, and functional NFT’s, in addition to a data payment model and a continued roll-out of the global data network in the United States, has left investors salivating at the possibilities.
The latest move into the traditional financial market will see the offering secured by the Deutsche Börse, an international exchange organization and innovative market infrastructure provider, which is constantly expanding its presence in the crypto world. “Digital assets will transform the financial industry. There is increasing demand from established financial institutions who are looking to become active in this new asset class and want a trusted partner,” said Thomas Book, Executive Board member for Trading & Clearing at Deutsche Börse.
Following the previous successful listings of $BTC, $ETH, $LTC, $DOT, $SOL, and $TRC on Deutsche Börse and the Frankfurt Stock Exchange, $MXC is preparing to join a portfolio of blue-chip digital offerings aiming to be amongst some of the most trustworthy cryptocurrency tokens on the market. “This listing will allow MXC and its supporters to enter into yet another mainstream domain. We are already excited to live in a time where MXC is growing in the data, IoT, mining and token industries, respectively, and this latest move is yet another feather in our cap,” said MXC Foundation CEO Xin Hu.
What is an ETN?
According to the Financial Times, Exchange Traded Notes (ETNs) are types of unsecured debt securities or debentures that track an underlying index of securities and trade on major exchanges just like exchange-traded funds. ETNs are similar to bonds but do not have interest or coupon payments, and they trade on the stock exchange and track a benchmark index. Instead, the prices of ETNs fluctuate similarly to the stock market. Investors can easily purchase them as digital assets without having to set up crypto wallets. The return of the ETN is directly linked to the market index or other benchmark used to track the market. Thus, the movement of ETN is related to the movement of the index.
MXC’s ETN will act as a bond that investors can trade on exchanges, with earnings based on the difference between buying and selling positions. Alternatively, investors can wait for the ETN to mature and get a return on the index it tracks based on the underlying asset minus fees. In other words, upon maturity of the ETN, the ETN-issuing entity promises to pay the amount reflected on the index after taking their fee. This is yet another offering for supporters of the MXC token, which is already available on Tier 1 Crypto exchanges such as Huobi, gate.io, OKEx, KuCoin, and many more.
With this historic move, the MXC Foundation has indeed become a global brand, listing not only on reputable Crypto exchanges but also cementing its reputation as one of 2021’s most sought-after digital assets.