IBIT was initially launched on February 15, 2023, and then redeployed on March 20, 2023. InfinityBit Token is an ERC20 token that grants access to an AI-powered automated trading system currently under development. It also offers reduced trading fees on the InfinityBit exchange.

InfinityBit was founded by Alyssa and Stefano, who envisioned a centralized exchange with real-time on-chain settlement capabilities. Alyssa, based in Palau, has a background in traditional finance and software engineering, while Stefano, based in Italy, has a background in law and business. The token was created to provide benefits to exchange users, such as reduced trading fees and advanced features.