Ceybit, Sri Lanka’s first ever exchange will be opening registration and private sales on the June 11, 2018.
Ceybit will be predominantly a cryptocurrency/ fiat exchange and will provide a unique mobile wallet and a payment gateway solution. The Ceybit token (CYBT) buyback and burn mechanism is also a new entry into the market.
The token utility model is structured to gain some independence to Bitcoin volatility and be a safe asset to hedge against the rupee (Sri Lankan).
Despite interest from the people there are no cryptocurrency exchanges in Sri Lanka. Ceybit is attempting to change that by working to create a user friendly, high end exchange that will cater to everyone’s need.
Notable economist such as Paul Domjan (head of research, analytics and data at Exotix) have stated that cryptocurrency will make its biggest impact on developing countries. Ceybit will be targeting developing countries to deploy exchange solutions, starting with Sri Lanka and expanding globally.*
The alpha product will be going live within the next two months allowing the public an opportunity to register and test preliminary versions of the exchange.
The bounty program is currently open with the first 1,000 members getting $10 USD worth of CYBTs. More information on the current and future bounty programs can be found on their telegram.
It is definitely a promising project to follow and keep a close eye on.
*Please note Ceybit will be deploying exchange solutions not limited to but inclusive of developing countries.
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