Blockchain solutions provider DigitalX marks progress with regards to funding

Maria Nikolova

The funds will be used for the marketing of the company’s blockchain enhanced money transfer app – AirPocket, and further developing its AirID technology.

We have more news on the fintech front today, as DigitalX Ltd (ASX:DCC), a company for Blockchain-enhanced software solutions, is marking progress with regards to the funding deal it announced about a month ago, when it said it had secured up to AUD 1 million in financing from Ironside Capital (formerly Merchant Corporate) via the issue of converting notes.

Today, DigitalX announces that it has now received a further AUD 300,000 in convertible notes. The company will today issue 30 convertible notes, with a face value of AUD 10,000 per note, converting to Fully Paid Ordinary Shares at AUD 0.05 per Share and maturing April 21, 2018.

The update comes after on March 29, 2017, DigitalX confirmed that it had entered into agreements with investors for the initial AUD 300,000 in convertible notes. The company also advised that the total amount of the funding has been increased from AUD 1 million to AUD 1.25 million.

As previously guided, the funds raised will be used for marketing and distribution of AirPocket, a blockchain-enhanced remittance solution, as well as for AirID, a distributed ledger technology enterprise solution, and for provision of working capital.

In the end of February 2017, DigitalX released its financial report for the half year to December 31, 2016, confirming that the company had halted its trading operations towards the end of the period, due to the shift of the focus of operations to its payments application AirPocket.

After the end of the half-year period, DigitalX announced a deal with Blockchain Global Limited, previously known as Bitcoin Group Limited, over the DigitalX Direct platform. The agreement will see DigitalX get half of all revenues generated from customers introduced to Blockchain Global and their exchange service In the report, DigitalX said the process of customer introductions had already begun and some ex-clients had already commenced using the platform.

The deal is seen as crucial for Blockchain Global Limited, as the company continues to push into bitcoin exchange.

Read this next


The FX Algo Wheel, is it wheels up and ready to take flight?

by David Catterick, Sales Director, BidFX Australia

Retail FX

eToro users now can trade underlying Italian stocks

Israeli social trading and multi-asset brokerage company eToro has expanded its service offering and trading products by incorporating new markets, namely Italian stocks listed at underlying exchanges.

Digital Assets

BlackRock bets on crypto bank Silvergate despite drastic fall

BlackRock, the world’s largest asset manager, has increased its stake in Silvergate Bank, a crypto-friendly lender that counts major crypto exchanges like Coinbase and Kraken as clients.


A viewpoint from Anatoly Crachilov, CEO and Founding Partner at Nickel Digital, on SEC regulation of the digital asset sector

The SEC’s latest episode comes across as more of a PR performance rather than an act of investor protection.

Digital Assets

Tether denies receiving any loans from Celsius, the opposite is true

World’s largest stablecoin issuer, Tether dismissed reports suggesting that it received a $2 billion loan from the bankrupt cryptocurrency lender Celsius.

Institutional FX

Cboe FX volume makes strong rebound in January

Cboe’s institutional spot FX platform today announced its trading volume for the month ending January 2023, which marks a mild rebound after a steep fall in December.

Uncategorized appoints Exness alumni Mohamad Ibrahim as CEO, the multi-regulated financial services provider, has appointed Mohamad Ibrahim as the group’s newest chief executive officer (CEO).


B2Broker Integrates Match-Trader Solution to Expands Its White Label Liquidity Offering

A global provider of technology and liquidity for the FX and cryptocurrency markets, B2Broker recently announced the extension of its white label liquidity offering by merging with Match-Trader.

Digital Assets

UK launches open consultation to regulate crypto exchanges, custody, and lending

The government’s proposed measures have been informed by recent market events – including the failure of FTX – which reinforce the case for effective regulation and sector engagement.