Coingrid has announced that they have reached the decision to raise their cap and extend the duration of their ICO after consulting with their advisors and supporters. Their hard cap (maximum amount that can be raised) was raised from 3 million NZD to 35 million NZD and their ICO will now run until 23 June 2019 or when tokens have been sold out.

Coingrid is a startup company based in Christchurch that is running an ICO crowdfunding campaign to build one of the most accessible cryptocurrency exchanges in the world. Many cryptocurrency projects in New Zealand have registered overseas to avoid the strict local regulations; Coingrid gained a lot of attention from the community for being one of the first ICOs to be carried out in New Zealand.

The Financial Markets Authority (FMA) has read Coingrid’s current whitepaper. It has been established that the FMA currently has no regulatory concerns with the ICO and/or the token, CGT. This is the reason why many Kiwi cryptocurrency enthusiasts believe Coingrid’s project is a huge step towards legitimising cryptocurrency.

Chai Kim, CEO of Coingrid, stated that the company is planning for a “giant whitepaper update”, where they intend to explain the development of the exchange and its features in detail.

“We’ve had a lot of interest from the community and received a lot of technical questions; mostly about the actual development of our exchange. We are adding a whole new section that covers the technical side of our project. We aim to release it by the end of this week.”

The total supply will remain the same (100,000,000 CGT) and the token will be sold at the new rate of 1 ETH = 500 CGT. Ethereum is the primary cryptocurrency that Coingrid aims to raise, but others cryptocurrencies may be accepted if confirmed by the team.

Key features of Coingrid:

The exchange will have competitive transaction fee 0.05% per trade (lowest in the world, on par with Binance). Coingrid Ltd is officially registered as a Financial Service Provider in New Zealand. Simplified UI designed for the masses while also offering "advanced mode" for veteran traders (prototype available at http://prototype.coingrid.co.nz/ Flexible cryptocurrency trading (like shapeshift). More features that simplify cryptocurrency trading to be announced.



Find out more about Coingrid: https://coingrid.co.nz

Media Contact

Company Name: Coingrid

Contact Person: Keyo Jack, Head of Marketing

Email: Send Email

Country: New Zealand

Website: https://www.coingrid.co.nz/







