BitMart Exchange, a premier global digital asset trading platform, recently announced the listing of EBCoin (EBC) on their trading platform this past Monday. EBC/ETH and EBC/BTC trading pairs will be available for trading starting August 15th and withdrawals will be available August 18th.
The EBCoin project seeks to create an ecosystem that will revolutionize the duty-free/tourism tax refund market, currently estimated to be valued at $60 billion a year. EBCoin will function as an ERC20 token, standardized on the Ethereum blockchain and will be complemented by a complete eWallet solution. By using the EBCoin platform, consumers will receive their refunds instantly and can use the proceeds as a digital currency. With EBCoin, tax refunds will be transparent, resulting in greater efficiencies for tax authorities. For retailers, EBCoin will significantly reduce the high costs associated with the inefficient systems presently being used. It will also help promote higher spending by tourists at participating duty-free retailers, where consumers will be able to present payment using their EBCoin wallet as an optional payment method.
The EBCoin platform features patented technology (Patent Registration No. 1018862830000) for a computer readable recording medium for providing tax returns using blockchain based cryptocurrency.
EBCoin has also signed a partnership with NICE TCM, who currently manages over 8,000 bank ATMs and over 7,000 cash dispensers all over Korea. NICE TCM will work with EBCoin to create ATM kiosks for the exchange of EBCoin to local currency for travelers.
In addition, EBCoin recently acquired the tax refund company, Global Insight (etaxfree.com). Global Insight currently has around 200 merchants with tax refund services available in major airports and ports in Korea (Incheon International Airport, Jeju International Airport, Port of Incheon, etc). As a result of the acquisition, EBCoin has now secured a tax refund business license, as approved by Korea’s National Tax Service.
To celebrate the listing of EBCoin, BitMart Exchange is holding an EBC Deposit Bonus & Trading Competition worth 22,500,000 EBC in prizes.
The first 2,000 users to complete deposits on BitMart.com and that meet the following conditions, will be eligible to receive either 2,000 EBC or 7,500 EBC:
Users will be ranked in terms of the total EBC volume traded using their BitMart account (including both buy and sell orders) across all EBC trading pairs during the competition period.
Users with a trading volume (including both buy and sell orders) of at least 200,000 EBC will be eligible to participate. Users with a ranking number ending in 6 and 8 (e.g. 16,18, 26, etc.) will be selected to split 1,600,000 EBC evenly.
BitMart Exchange is a premier global digital asset trading platform in the cryptocurrency market with over 490,000 users worldwide and a top 30 ranking on CoinMarketCap. BitMart currently offers 78 trading pairs with one of the lowest trading fees on the market. TBitMart’s daily trading volume ranges from $30,000,000 to $40,000,000 USD and total trading volume has reached over $1,000,000,000 USD since launching in March.
BitMart recently opened a new market for its utility token, BMX, with its Mission X program. A true community listing market, projects who participate in Mission X are able to obtain investment from supporters in the form of BMX and use it to list their tokens on BitMart’s BMX Market as a trading pair for BMX. 100% of the transaction fees from the BMX Market go directly to the users who supported the project. Once a project has proved successful on the BMX market, it will be reviewed for listing on BitMart’s Main Trading markets.