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Majic Signs LOI To Acquire Majority Interest In PCEX Cryptocurrency Exchange

Majic Wheels, Corp. a Delaware corporation, that is positioning itself as a player in the disruptive industries of fintech and software development by means of acquisitions, announces it has signed a letter of Intent (“LOI”) to acquire, through its fully owned Subsidiary CGCX, a majority interest in PCEX, a Cryptocurrency Exchange & Trading Platform.

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Launched by Panaesha Capital, PCEX is a cryptocurrency exchange that brings a novel approach to the digital currency market. PCEX is the first crypto broker in India to introduce the B2B Franchise Model in the cryptocurrency market. PCEX has succeeded in creating a network of 250+ franchises and 40+ satellite offices in different regions of India.

PCEX’s unique Business Model allows interested applicants to complete a simple yet mandatory KYC process to become a PCEX Trading Member with unparalleled benefits such as:

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  • Higher Liquidity
  • Unmatched % of revenue share
  • Design & Development of Web and Mobile Platform
  • IT & Technical Support
  • Server Setup
  • Wallet Integration
  • Marketing Assistance

“Cryptocurrencies are not just an innovation; they represent a revolution and, in our opinion, a catalyst to the global fintech industry. We envisioned a business model within an industry that is growing exponentially but also caters to entrepreneurs and businesses looking to establish a footprint in the crypto space. Our franchise model is the culmination of that vision.”  said Sandeep Phogat, CEO & Founder of Panaesha Capital Exchange.

“The combination of Majic’s CGCX expertise and PCEX novel approach and scalable model will further Majic’s ambition to firmly establish itself as a Fintech & Technology leader in India.” said David Chong, Chief Executive Officer of Majic Wheels, Corp.

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