TechX Technologies Inc (CSE:TECX) (OTC:TECXF) (FRA:C0B) announced that its portfolio company Catalyx Exchange intends to list its CADX Canadian stablecoin on the Bittrex Global Exchange.
Bittrex, one of the world's top 10 cryptocurrency exchanges in terms of liquidity, is expected to list the CADX coin during the week of May 10.
“We are beyond excited to become the first Canadian dollar-backed stablecoin to be listed on one of the world's top 10 crypto exchanges," said Catalyx Exchange CEO Jae Park in a statement.
READ: TechX Technologies driving innovation in shipping, logistics and digital payment technology
“The listing of the CADX coin on Bittrex is great news not only for the company, but for crypto traders across the globe who want more options to choose from,” Park added.
The company noted that every CADX token is fully backed and redeemable for $1 Canadian dollar and is held in an audited account managed by Prime Trust, a Nevada-chartered trust company, which is the official regulated trustee and CVC administrator for CADX.
It added CADX is powered by Stably's ERC20 smart contract technology, which has been audited by leading US-based blockchain security firm, QuantStamp.
Catalyx.io, Canada's premier cryptocurrency exchange with over 40+ altcoins available for purchase, launched its Canadian dollar fiat-backed stablecoin CADX in 2020 through a partnership with Seattle-based fintech company Stably.
TechX said Catalyx and Bittrex first partnered in 2018 to launch the Catalyx Exchange and provide a solution for Canadian customers who wanted more selection for digital assets, but on a secure, reliable platform in Canada.
TechX Technologies, formerly known as Litelink Technologies Inc, is a dominant player in developing world-class enterprise platforms and digital wallets. It channels artificial intelligence, blockchain, and predictive analytics to solve outdated technology problems in the logistics and digital payment industries.
The Burnaby, British Columbia company operates its flagship 1SHIFT logistics platform, as a Software-as-a-Service solution, that enables brokers, shippers, and carriers to track shipments and settle payments in real-time.
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