Wirex has today made the surprise announcement of the release of WXT – its own token.

The UK-based company’s first native cryptocurrency arrives via an Initial Exchange Offering (IEO) on OKEx.

The IEO will take place on June 26 through OKEx’s Jumpstart programme, with 1% of the total WXT supply available for public purchase on a first-come-first-served basis. An opening price of $0.01 per token will be offered.

Wirex’s CEO – Pavel Mateev – said the move to an IEO was all about ensuring the company committed itself to what it believes is the future of international finance.

“We believe that the nascent token economy will eventually replace conventional fiat currency as the dominant form of payment,” he said.

“The Wirex Token helps us integrate with the payment environment of the future and offer users a convenient, fast, and cost-efficient way to move digital money across borders.”

Verified users of the FCA-regulated platform will be entitled to take part in a pre-IEO sale this Thursday when $2 million worth of WXT will be released.

Based on the number of tokens held, Wirex users will also be given access to a variety of extra features including discounts, rewards, and premium access.

Want to know more about Wirex? Here’s our Q&A with CEO Pavel Mateev…