An Asian Cryptocurrency Exchange Token
NMX token is an ERC20 token that NuMoney Exchange minted as a token for fee discounts for future transactions on NuMoney Exchange.These tokens are then sold on NuMoney Exchange token to bootstrap the exchange's liquidity.
Born out of frustration over our inability to purchase cryptocurrency conveniently, we started NuMoney as an over-the-counter service. Running NuMoney's OTC service was straightforward: In the first 2 months, we grew so rapidly that the points of failure became naggingly obvious. Neither banks nor liquidity providers appreciate high-volume, rapid movements of cash. Particularly so if you run a cryptocurrency startup. So we soon encountered problems with both the liquidity providers and our banks. Nevertheless, this fast growth demonstrated a huge demand for cryptocurrency in Singapore. For us to satiate this demand, we have to eliminate these points of failure.