BitForex to Launch MILE Coin Aimed at Boosting Growth in Developing Economies

NEW YORK, Nov. 17, 2018 /PRNewswire-PRWeb/ -- BitForex, one of the largest cryptocurrency exchanges in the world, announced that it will be listing MILE, one of two cryptocurrencies of the MILE blockchain, starting November 16 at 8:00 UTC.

At the launch, one MILE will be valued at $1.70, with a total market capitalization of $1.7 billion equivalent. Once listed, BitForex will support both the deposit and withdrawal of MILE, as well as launch two new trading pairs: MILE/BTC and MILE/ETH. The MILE blockchain ushers in the first stablecoin in the world with the potential for 10,000 masternodes across the worldwide platform, enabling anyone to become an "emission center" for minting stablecoins as the blockchain grows.

"We are happy to welcome MILE as one of the new stablecoins on BitForex," said Garrett Jin, Vice President of BitForex. "We do see huge potential in stablecoins because of their special role in the development of the blockchain industry. For sure, it needs new cryptocurrencies that will be way more technological, decentralized and transparent, which the MILE coin could be."

Representatives of the non-profit Mile Unity Foundation, which evangelizes the adoption of the MILE blockchain but does not own or operate it, celebrated the announcement as a significant milestone.

"The BitForex listing is a huge milestone for the MILE blockchain and only the beginning," said George Goognin, an ambassador with the Mile Unity Foundation. "Our vision is to grow the MILE blockchain until it has united the global economy and provided access to the 4 billion people who are currently unable to engage in cross-border trading and investment. We see this ecosystem as a tool by which the developing world will flourish and global economic growth will boom."

"We've put our faith in the MILE blockchain as the technology that will finally include everyone around the world in the global economy," said Dima Vol, an ambassador with the Mile Unity Foundation. "BitForex's choice to list MILE legitimizes all the hard work we've done to spread the word about the MILE blockchain, and it brings us one step closer to connecting 4 billion people to much-needed economic opportunity."

BitForex also referenced plans to list the MILE blockchain's twin cryptocurrency, the stablecoin XDR, in the near future. More details on the listing of XDR will be released shortly.

About the MILE blockchain

The MILE blockchain combines the functions of two cryptocurrencies, MILE and XDR, to create a stable international foundation for cross-border payments, trade settlements, investments and remittance. XDR is tied to the value of the historically stable IMF special drawing rights, while MILE serves as an index of XDRs demand. The MILE blockchain empowers users to act as "emission centers," which can mint and use new XDR as the ecosystem grows. It also serves as a fully decentralized and unowned system by which developing economies and those suffering under sanctions and embargoes can meaningfully participate in the integrated global economy of the 21st century.

The MILE ecosystem was designed by Lotus Mile, the name used by the unknown person or people who developed MILE blockchain. The negotiations about the MILE blockchain real world applications have been started with many governmental and commercial organizations in Japan, China, South Korea, Turkey, Brazil, Russia, Kazakhstan, Namibia, Uganda and others. Currently, partnership agreements for using the MILE ecosystem exist with several organizations, including BRICS, G-Global and the Silk Road Association.

About the Mile Unity Foundation

The Mile Unity Foundation is a non-profit organization that evangelizes that adoption of the MILE blockchain. Its focus is growing the ecosystem to support a more inclusive global economy that connects the currently marginalized 4 billion people of the world who cannot access simple banking and financial services. The Mile Unity Foundation is made up of global ambassadors located on every continent who are currently engaged in diplomatic missions to bring awareness and implementation support to governments and business leaders worldwide.

About BitForex

BitForex is one of the leading cryptocurrency exchanges. Established in 2017, it has rapidly grown into a massive platform for the secure and convenient trade of digital assets, including cryptocurrencies. BitForex is especially popular in China where, according to Coinmarketcap, it facilitates hundreds of millions of U.S. dollars in trade volume every day.

SOURCE Mile Unity Foundation