Major cryptocurrency exchange Bitfinex has unveiled its exchange utility token UNUS SED LEO, in a press release on May 17.
The token will be useable for a variety of exchange-based activities and will begin trading on Bitfinex on May 20 against tether (USDT), bitcoin (BTC), ether (ETH), U.S. dollars and EOS pairs.
The whitepaper for the project, published on May 10, describes LEO as “a utility token at the heart of the iFinex ecosystem.” iFinex is the parent company of Bitfinex. iFinex purports that it provides a stronger and more independent infrastructure, having migrated from Amazon Web Services to a self-designed data center.
Bitfinex reportedly raised 1 billion tether (USDT) worth of U.S. dollars, bitcoin and tether for the token during its initial exchange offering.
Also read: ABB has rolled out a Blockchain pilot to explore how the technology could promote the role of solar energy in p2p energy trading