Fixed Income MercX on ICP

We’re excited to announce the launch of Fixed Income MercX (FXMX), a new financial instrument within the MercX ecosystem that provides access to daily and cumulative returns through regulated fixed-income products such as treasury bills, bonds, certificates of deposit, and bank deposits.

FXMX allows users to mint their own tokens, which can be used for borrowing and lending within the platform. Since it is a regulated product, users will need to complete a simple KYC/AML verification before minting. Once verified, they can mint FXMX, which will begin accruing yield from the next business day in Egypt. The expected annual return ranges from 4.4% to 5.1%. FXMX can also be transferred between users who have completed KYC.

So far @MercaturaDevs has developed two test token that can be purchased from the test platform that has been in development over the last 18 months. Currently they are working along the Financial Regulatory Authority to streamline a regulated KYC offering.

Towards the end of February, FXMX will be available for public sale. For the first six months, P2P transactions will be free, after which a small 0.08% transaction fee will apply.

We have not yet set a launch date for MercX’s platform token. Our focus right now is on building a solid foundation with FXMX. We plan to wait until we can offer a well-structured and valuable addition to the ecosystem.

This is just the beginning. After the launch of FXMX, we will be introducing more regulated financial instruments, each with different risk profiles, including venture capital fund access. Within 12 months, we also plan to onboard stocks from across the MENA region.

MercX is a venture by Mercatura Forum, a shareholding public company registered at the General Authority for Investment (GAFI) in Egypt. Mercatura Forum runs a 3,200 m² campus dedicated to supporting Web3 adoption in Egypt. MercX and FXMX were announced at Cairo Blockchain Week, Mercatura Forum’s flagship event designed to push for blockchain adoption, which gathered 1,600+ attendees, including banks, investment funds, regulators, and Egypt’s Web3 ecosystem.

You can reach out to @MercaturaDevs including @nourAhmed123 and @jumanaa on open chat.
MercX on x: x.com
Open Chat: OpenChat
Linkedin: Mercatura Forum | LinkedIn

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The Fixed Income MercX is going to be managed by Zaldi Capital, the highest performer in the Egyptian market with last year’s yield exceeding 10%. Zaldi Capital and it’s 3 funds are regulated by the financial regulatory authority.

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