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Management was one of the companies that took part in the private token sale.
According to a news statement, cryptocurrency trading platform Hxro raised $15 million in a token sale to hedge fund Commonwealth Asset Management.
Hxro features its own Ethereum-based network currency, HXRO, in addition to facilitating derivatives trading and betting markets. Token holders can utilise their tokens to receive rebates and prizes while trading on the Hxro platform.
The going rate for HXRO tokens is currently $0.75, a 14% increase over the last week.
Hxro earned a reputation for itself with Moonrekt, a type of online game in which players wager on whether an asset will “moon” and rise in price over a specified period of time, or if it will “rekt” and fall in value. TixWix is a retail-oriented investment product offered by the firm, which works through a collaboration with FTX, the exchange managed by crypto wunderkind Sam Bankman-Fried.
Commonwealth, located in Los Angeles, is connected to notable investors Alan Howard and Louis Bacon, both of whom have recently invested in the upcoming EOS-based exchange Bullish Global.
“Having been active in financial markets over the last 20 years, we think a liquid options market is the next step in the evolution of decentralized crypto trading and the network is extremely well positioned for success,” said CIO Adam Fisher.