The Bitex Coin, with symbol XBX, is a utility token that will be used by participants of the Bitex crypto-banking platform to pay for service provided by Bitex.
Every Fee that will be taken for transactions that occur on the platform requires a certain amount of XBX that will be automatically converted from the clients payments. Every time there is a fiat - crypto conversion, Bitex will be charging the fees in XBX. Everytime there is a payment done, Bitex will be collecting the fee in XBX. Everytime there is a transaction 0.55% will be burned from the transaction.