TechX Announces Catalyx's CADx as the First Canadian Stablecoin to Be Listed on Major Exchange, Bittrex Global

Rhea-AI Summary

TechX Technologies Inc. (CSE: TECX) announced that its portfolio company, Catalyx Exchange, will list its Canadian dollar-backed stablecoin, CADX, on Bittrex Global, one of the top 10 cryptocurrency exchanges by liquidity. The CADX, launched in 2020 in partnership with Stably, is fully backed by Canadian dollars, held in an audited account by Prime Trust. Listing on Bittrex is expected to provide crypto traders increased options and enhance the visibility of Catalyx Exchange.

Positive

• CADX stablecoin listing on Bittrex enhances visibility and trading options.
• Partnership with Stably supports a secure and regulated stablecoin structure.
• Catalyx is the first Canadian dollar-backed stablecoin to be listed on a major exchange.

Negative

• None.

VANCOUVER, BC, April 6, 2021 /PRNewswire/ - TechX Technologies Inc. ("TechX'' or "the Company'') (CSE: TECX) (OTC: TECXF) (FRA: C0B1), a company focused in emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies, is pleased to announce that its portfolio company, Catalyx Exchange ("Catalyx") intends to list its Canadian stablecoin, CADX on the Bittrex Global Exchange. Bittrex is one of the world's top 10 cryptocurrency exchanges in terms of liquidity and provides the widest selection of cryptocurrencies.

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. The CADX coin is expected to list on the Bittrex Exchange the week of May 10, 2021.

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 who is the official regulated trustee and CVC administrator for CADX. CADX is powered by Stably's ERC20 smart contract technology, which has been audited by leading US-based blockchain security firm, QuantStamp.

"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 CEO Jae Park.  "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."

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.

About TechX Technologies Inc.
TechX Technologies Inc. (CSE:TECX) (OTC:TECXF) (FRA:C0B1) is a company focused on emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies. Led by senior leaders and industry experts, TechX invests in and provides subject matter experts within portfolio companies to accelerate success and maximize value for shareholders.

About Catalyx Exchange
Catalyx.io is a Canadian-based is a digital asset exchange platform that specializes in cryptocurrency trading, blockchain and cybersecurity technology. As a fully regulated Cryptocurrency exchange with FINTRAC, Catalyx has the highest standards in security and compliance and is partnered with world-trusted names in Blockchain technologies, risk management and financial solutions to provide their users with a trusted, secure platform. Catalyx is the first Canadian exchange with its own stablecoin called CADX and supports 40+ cryptocurrencies. Catalyx is also the owner and operator of launched FastBitCash.ca, a leading platform that offers the fastest Bitcoin purchase and withdrawal in Canada.

This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.  When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information.  Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

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SOURCE TechX Technologies Inc.

FAQ

What is the significance of CADX being listed on Bittrex?

The listing of CADX on Bittrex, a top 10 cryptocurrency exchange, enhances its visibility and provides traders with more options.

When will CADX be listed on Bittrex?

CADX is expected to be listed on Bittrex during the week of May 10, 2021.

Who manages the CADX stablecoin?

CADX is managed by Prime Trust, which acts as the regulated trustee and administrator.

What is TechX Technologies Inc.'s focus?

TechX focuses on emerging technologies, including crypto, blockchain, AI, and cloud technologies.

How does CADX ensure its value?

Each CADX token is fully backed and redeemable for one Canadian dollar, ensuring its stability.