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Yoritex is conducting a unique Initial Coin Offering campaign “1+90”

11-29-2017 01:13 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Yoritex Inc.

Yoritex is conducting a unique Initial Coin Offering campaign

November 29th 2017, Toronto, Canada. - Canadian FinTech Company, Yoritex Inc., is proud to introduce SimcoePay, the first European cross-border multicurrency online bank for both residents and non-residents of Europe.

SimcoePay is officially announcing the start of its unique Initial Coin Offering (ICO) starting November 29, 2017 through to the 1st May 2018.

The campaign has received accolades from experts in the field of financial technologies and crypto-currencies which will be initially introduced according to a “1+90” formula:
# Pre-ICO stage will be available for 1 month from 29th November till 29 December 2017;
# ICO will be will be available for 90 days – from 1st February till 1st May 2018 – through sale of YRX tokens on the leading worldwide cryptocurrency exchanges.

Against banking discrimination

Yoritex Inc. is introducing the first European Cross-border Multicurrency Online-bank which promises to solve the problem that non-residents of Europe are facing– banking discrimination.

According to Yoritex Inc. founder Leon Dain, “Non-residents – legal entities and private individuals in Europe are not permitted to open bank accounts remotely in 99% of European banking institutions. As a result, non-residents of the EU face increased costs, by paying high currency trading commissions for trans-border payments; no access to inexpensive intra-European SEPA payments as well as unavailability of other cost reduction offers from traditional banks”.

“Currently European and, for example, Canadian banks are ignoring another rapidly developing area– cryptocurrency use in day to day life. No single European bank will offer cryptocurrency accounts with convenient and legal ways of cryptocurrency conversion to national currencies”, says Leon Dain.

For cost effective banking terms of service

SimcoePay will provide the means to cost effectively make cross-border payments for both non-residents and residents of the EU. The terms of service will be the same for both crypto and national currencies.

Each SimcoePay client will have the opportunity to open a multi-currency IBAN account with the ability to simultaneously use crypto (YRX, XBT, ETH, LTC, BCH) and fiat (EUR, CAD, USD, RUB, GBP) currencies and also:
# wide range of multicurrency payment cards,
# access to beneficial P2P and overdraft loans,
# convenient instruments for currency exchange from crypto to fiat currency,
# ample opportunities for rapid and inexpensive payments worldwide through the use of a network of three million ATM’s worldwide for cash withdrawal,
# Including other advantages.

Customer service is important to us

“Tokenization is a logical stage in development of Yoritex FinTech project. It is profitable for businesses to use blockchain in operations where transparency and authenticity is of high importance. The banking business is especially sensitive to these factors”, says Leon Dain.

Yoritex is planning to conduct an ICO campaign by formula “1+90”; one month Pre-ICO from 29th November 2017 till 29th December 2017 and 90 days ICO from 1st February till 1st May 2018.

Campaign is based on three fundamental principles – respect of equal rights of token buyers, market pricing mechanisms and a pure decentralized solution. Experts in the field of cryptocurrencies noted an original idea of ICO and unique mechanism of campaign structure.

Yoritex Pre-ICO
Period: 29th November - 29th December 2017.

The concept of “Make your Offer” is the foundation of the Pre-ICO round and during it Yoritex Inc. is planning to sell up to 10% (51,000,000 YRX) from total YRX token issue.
During this round, potential buyers can make Yoritex an offer to purchase any amount of Tokens at any price.
If Yoritex agrees to the proposed offer, the deal will be closed on the terms of buyer.

Currencies of payment: ХBT, ETH, LTC, USD, CAD, EUR.
Volumes are unlimited.

Yoritex ICO
Period: 1st February – 1st May 2018.

During the ICO stage Yoritex is planning to sell up to 85% (433,500,000 YRX) from total YRX token issue. Buyers will be able to purchase Tokens on several world leading crypto-exchanges.

On 1st February, 2018 on the 1st trade date, the price of YRX will be fixed on the level: 1 YRX = 0.00185 ETH.
During next 89 days of trade, every day an equal quantity of additional YRX tokens will be listed on exchange by Yoritex Inc. The starting price of additional YRX tokens will be equal to closing price of the last day – correlating to “LOFI concept - last out, first in” (by analogy to widely known accounting method of inventory accounting). YRX tokens which were not sold will be destroyed.

Currencies of payment: ХBT, ETH, LTC.
Volumes are unlimited.

“By implementing of declared ICO concepts, Yoritex will ensure complete transparency of transactions and pricing in compliance with decentralized market mechanisms. Besides that, participants of Pre-ICO stage already within a month after entering the project will have an opportunity to exit. It is unprecedented defense of token holders interests, which we are ready to provide for our buyers”, says Leon Dain.

Join Yoritex community:

Company Website:
SimcoePay Online Banking (alpha version):

Yoritex Blog:

# # #

About Yoritex Inc.

Yoritex Inc. registered in Canada in 2009. Company has had a number of successful projects in the field of mHealth, engineering and IT-technologies. Development of First European Transnational Multicurrency Online-bank for non-residents SimcoePay was started in 2016.

Yoritex Inc.

Leon Dain
Phone (371) 22065135

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