South African Cryptocurrency Exchange OVEX recently closed a successful round of funding lead by Invictus Capital, the firm which founded CRYPTO20 - the world’s first tokenized index fund.
Credit OVEX: Left to Right Tom Masojada (CPO, OVEX), Nihar Ramchunder (CTO, OVEX), Daniel Schwartzkopff (CEO, Invictus Capital), Jonathan Ovadia (CEO, OVEX).
Founded in 2017, OVEX has completed two successful funding rounds. The first with Newtown Partners, who’s directors include Shark Tank South Africa’s Vinny Lingham and the executive director of The Bitcoin Foundation, Llew Claasen.
Invictus Capital, being a leading cryptocurrency investment firm has concluded an investment in OVEX. Daniel Schwartzkopff, CEO of Invictus Capital, says that he is excited with the OVEX partnership and believes that the time has come for a strong competitor in the African market. “We look forward to the positive impact OVEX will have in offering the most extensive range of Altcoins in South Africa.”
To see the full Invictus–Hyperion investment announcement click here.
CRYPTO20, touted to be the world’s first tokenized crypto index fund, was launched by the Invictus team and exceeded all expectations with the fund peaking at $164 million in January 2018.
After the success of CRYPTO20, Invictus Capital launched two additional funds, a tokenized venture capital fund, the Invictus Hyperion fund, and the CRYPTO10 Hedged fund, a tokenized crypto index fund incorporating a cash hedge providing investors with downside protection.
Invictus Capital Invests In OVEX:
OVEX’s most recent funding round was led by the Invictus Capital team via their venture capital fund Invictus Hyperion (IHF). IHF is a successful investment vehicle which is tokenized by way of an ERC 20 token. One of the Hyperion fund’s investments Quantfury recently exceeded $1 billion 30 day trade volume.
Jonathan Ovadia, CEO & Founder of OVEX, stated:
“Our mission is to accelerate the advent of an open and inclusive financial system, and we look forward to working with Invictus Capital to achieve this goal ”
OVEX Cryptocurrency Exchange:
OVEX was founded in 2017 and spent 14 months perfecting the technology behind the platform with a matching engine that is capable of processing in excess of 1 million trades per second. This makes OVEX one of the fastest exchanges in the world. Having launched in January 2018 the exchange has seen rapid growth catapulting it into the top 3 South African exchanges by daily trading volume. The team aims to be the exchange with the most unique and innovative features. Users who sign up will benefit from several exchange features not found on other local crypto exchanges:
1. Interest Account: Currently, OVEX is the only exchange which allows users to incur interest on their Bitcoin holdings. Users can earn as much as 7% per annum.
2. Over 18 Altcoins offeredt: this includes top cryptocurrencies such as Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), TRON (TRX), XRP and more.
3. Purchase Tokens At International Ratest: Users can purchase cryptocurrencies at international rates by merely completing the KYC process on site with TUSD. Once users have purchased TUSD, they can buy bitcoin at global prices, thus making better returns off the higher rates in South Africa.
4. Instant Buy and Sellt: Similar to the Luno’s instant buy and sell feature, OVEX offers an instant buy/sell on over 18 cryptocurrencies. Additionally OVEX charges a 0.5% trading fee on instant buy/sell transactions compared to the 5% sometimes charged on Luno.
5. iOS & Android Appst: With OVEX, users can monitor markets, manage their holdings and make transactions on the go with the OVEX mobile application.
To learn more about OVEX’s features, trading fees and more visit the site today click here.