(MENAFN- GlobeNewsWire - Nasdaq)
DUBAI, United Arab Emirates, Jan. 13, 2022 (GLOBE NEWSWIRE) -- Nexum Foundation has successfully launched its utility token NEXM in Decoin exchange on January 5, 2022. On the first day of trading, the token price reached USD 0.132, representing a 116% increase. This launch makes Nexum the first blockchain-based platform in maritime financing to publicly trade its cryptocurrency.
Nexum is a blockchain-based fintech platform built to provide funding securely and efficiently to traders in the shipping and oil industry. Nexum Coin (NEXM) is the platform's dedicated ERC20 utility token, which traders and other maritime ecosystem participants must use to receive funding in order to obtain access to services offered by the platform.
NEXM token is under the auspices of Nexum Foundation Ltd. in Singapore. The foundation aims to promote changes in the capital allocation process in the maritime industry. Nexum brings transparency, efficiency, and accountability to an industry responsible for hundreds of billions of cross-border payments and money transactions.
Nexum incentivizes the adoption of blockchain technology and crypto payments by the maritime ecosystem. Shipping is a fragmented and opaque industry that naturally lends itself to crypto applications. Its multijurisdictional and multicurrency nature provides a fertile environment for token utilization that will make cross-border payments and remittances quick and efficient.
Nexum's vision is to form the backbone of tokenization in shipping transactions. By utilizing blockchain technology and big data clusters, Nexum will drive performance and credit-risk-related assessments on a per vessel/ship-manager basis. Nexum uses a data-driven approach which analyzes and predicts trade flows and world economic activity on a macro level.
The foundation is planning to list NEXM on all major exchanges in the first semester of 2022. 80% of proceeds are directed towards asset-backed financing in a 250Bn industry with only 5Bn tokens.
The Nexum community is global and growing rapidly. From the UAE to the USA, Europe, Australia, and China, we are growing stronger and more disruptive as the token reaches the largest exchanges in the months to come.
Join NEXM in this journey of growth, innovation, and technological excellence.
SOURCE : Nexum
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