DigitalX diversifies offering, to provide Blockchain consulting services to Bankera

Maria Nikolova

DigitalX will provide traditional corporate advisory services, as well as industry specific advisory services to Bankera.

Blockchain solutions provider DigitalX Ltd (ASX:DCC) has just made a move towards further diversification of its offering. In an announcement filed with ASX earlier today, DigitalX said it had entered into an agreement with Bankera to provide it with consultancy services. DigitalX will act as an advisor to Bankera’s initial coin offering (ICO), which is a part of the implementation of Bankera’s plan to build a digital bank for the Blockchain era.

DigitalX will be providing a range of industry specific and traditional corporate advisory services plus additional marketing services to Bankera in exchange for fees.

Today’s announcement by DigitalX notes the exponential growth in the cryptocurrency market and the surge in ICOs. Although the company says that “these projects are bringing globally disruptive technology advancements to market”, there are regulators that are less upbeat and more careful about the matter. Less than a week ago, for instance, the Canadian Securities Administrators (CSA) published a Notice on Cryptocurrency Offerings, which outlines how securities law requirements may apply to initial coin offerings (ICOs), initial token offerings (ITOs), cryptocurrency investment funds and the cryptocurrency exchanges trading these products.

“The technology behind cryptocurrency offerings has the potential to generate new capital raising opportunities for businesses and we welcome this type of innovation,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “Given the growing activity in this novel area, we are publishing guidance to help fintech businesses understand what obligations may apply under securities laws.”

Over the past several months, DigitalX has announced a number of partnerships. In April, for instance, it announced a partnership with professional software developer Lateral. The key goal of the collaboration is the creation of Blockchain and distributed ledger products for large enterprises in Australia and a number of regions in Asia.

Then, of course, there is the strategic partnership with Blockchain Global unveiled in June, which saw Blockchain Global and associated investors agree to pump $4.35 million to acquire an interest of around 40% in DigitalX.

Earlier this month, DigitalX presented its plans to conduct a minority holder share sale of parcels of shares with a market value of less than $500, in an effort to slash administrative expenses. DigitalX noted back then that it “values all its shareholders, however it incurs significant administration costs maintaining such a large number of less than marketable parcels of shares”.

Read this next

Institutional FX

CME Group reports solid FX volumes, micro BTC futures average 27K contracts

CME Group (NASDAQ: CME), the holding company for CBOT, NYMEX, and COMEX exchanges, has just released its trading monthly review for November 2021, which showed a mixed performance across the group’s six product lines, according to a CME statement.

Institutional FX

PrimeXM’s volume hits new all-time high at $1.23 trillion

Average daily trading volumes across PrimeXM data center locations surged by over a third to a new record last month amid broad growth across different asset classes, the Swiss-founded technology company said today.

Institutional FX

Hedge-fund legend Steven Cohen invests in Dmitri Galinov’s 24 Exchange

24 Exchange, the OTC platform backed by Fastmatch founder Dmitri Galinov, has completed a fresh fundraising round of $14.25 million at an undisclosed valuation. The recent capital injection was led by Point72 Ventures, the venture capital firm of the hedge fund titan Steven Cohen.

Retail FX

5 Tips to Diversify Your Portfolio

Diversification is a popular investment strategy that has been used for decades by many investors of the calibre of Warren Buffet. Traders and investors take advantage of diversification because it reduces the risk of a portfolio and maximizes its returns.

Uncategorized

FX volume at Integral hits a fresh yearly high at $50.6 billion a day

Currency trading on Integral’s platforms rose in November from a year earlier as increased volatility across financial markets led to greater activity on institutional FX venues.

Industry News

Wise planning aggressive North American expansion in 2022

Wise, one of the largest payment technology companies that are looking for different and easier ways to move money around the world, has announced that it would be looking to rapidly ramp up its team and its services in the North American region in 2022.

Digital Assets

Coinbase buys Israeli firm Unbound Security

Coinbase, one of the largest crypto exchanges in the US, has announced that it has bought the company named Unbound Security, an Israel-based firm dealing with the security of crypto transactions, for an undisclosed sum.

Digital Assets

Square changes name to Block, signalling Jack’s interest in blockchain

Square, one of the largest payment companies in the world that are deep into crypto as well, has announced that it would be changing its name to Block, perhaps signaling its increasing intent to delve deeper into the blockchain.

Institutional FX

Cboe reports rebound in FX institutional volumes for November

Cboe’s institutional spot FX platform on Tuesday reported ‎its trading volumes for November 2021, which saw a ‎positive performance as a rise in volatility encouraged more buying and selling ‎of currencies relative to the month prior.‎

<