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• CoinFlex would issue $47 million worth of the digital coin
Cryptocurrency exchange CoinFlex issued a new token on Tuesday, to raise funds in a bid to restart withdrawals for its customers.
The company said it would issue $47 million worth of a digital coin, offering 20% interest.
CoinFLEX will launch a Recovery Value USD (rvUSD) Token after recently halting withdrawals due to an outstanding debt that a high-net-worth customer owes the exchange.
CoinFLEX described the customer as a "high integrity" individual with liquidity issues tied to the recent crash in crypto and non-crypto markets who has "significant shareholdings in several unicorn private companies and a large portfolio."
The issuance will begin tomorrow and likely run until July 1, said the company.
Source - CoinFlex
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