DigitalX, Lateral seal Blockchain development partnership

Maria Nikolova

The two companies will jointly develop Blockchain and distributed ledger based products for large businesses across Australia.

DigitalX Ltd (ASX:DCC), a company for Blockchain-enhanced software solutions, keeps pushing into the distributed ledger technology space, as the company has earlier today 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.

DigitalX is bringing its Blockchain Intellectual Property (IP) into the partnership, whereas Lateral, which has a 30-year track record in the software development, will provide systems solutions advice, technical support and introductions to clients. Lateral’s client network includes names like Samsung and Honda Australia. Some clients willing to adopt Blockchain technologies have already been identified.

The deal will enable DigitalX to monetize further the Blockchain expertise it has gained through AirPocket, a blockchain-enhanced remittance solution, and AirID, a distributed ledger technology enterprise solution.

In February 2017, DigitalX confirmed it was moving away from Bitcoin trading services and was focusing its operations to its payments application AirPocket. For that matter, DigitalX has announced a deal with Blockchain Global Limited, previously known as Bitcoin Group Limited, over the DigitalX Direct platform. The agreement will see DigitalX receive half of all revenues generated from customers introduced to Blockchain Global and their exchange service ACX.io.

Meanwhile, DigitalX is making progress with regards to the funding deal it secured in late March 2017, when it said it had landed up to AUD 1 million in financing from Ironside Capital (formerly known as Merchant Corporate) via the issue of converting notes.

Last week, DigitalX announced that it had received a further AUD 300,000 in convertible notes. The company issued 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. 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.

Read this next

Technology

Tools for Brokers makes it easy to migrate to its liquidity bridge for MT4/5, cTrader, Match-Trader

“We know how hard it is to move to a new liquidity bridge, especially for prime brokers who distribute liquidity to other market participants. And we didn’t want our clients to miss out on all the functionality that Trade Processor has to offer.”

Digital Assets

Auros raises $17m to strengthen LP and market making business in Crypto

“This strategic partnership with VivCourt and Bit Digital will place Auros in a strong position to build upon our best-in-class market making offering, grow our Derivatives Solutions business and continue to expand market share in our core HFT arbitrage and relative value strategies.”

Digital Assets

Metacade Presale Hits Final Stage Before Listings, Raising Over $500k in under 24 hours

Metacade, fast becoming the most exciting GameFi project in 2023, has reached the final stage of its token presale after raising more than $500k in 24 hours, reaching a total raise of $12.4m.

Digital Assets

KyberSwap announces first ever $ARB token liquidity pools, liquidity mining and trading campaigns on Arbitrum

Since launching in 2021, Arbitrum has emerged as one of the most promising Layer 2 solutions, with its ability to scale Ethereum and enable faster and cheaper transactions.

Digital Assets

Exness, Pepperstone, ThinkMarkets, TMGM tap Crossover’s execution-only crypto ECN

“We are delighted with the financial backing of global industry leaders in retail brokerage, market making, quantitative trading, banking, and crypto-native firms. Our consortium partners share our vision and have paved the way to create scale and opportunities for other industry participants to join our platform and participate in future rounds.”

Digital Assets

MetaMask taps MoonPay for fiat to crypto on-ramp in Nigeria

“Our partnership with MetaMask will enable us to provide Nigerian users with Bank Transfers, a widely used payment method across Nigerian e-commerce businesses. We hope this integration opens the doors for Nigerians to fund their self-custody wallet through a simplified user experience.”

Crypto Insider

Dubai Multi Commodities Centre picks Enya Labs as technology partner

Dubai Multi Commodities Centre (DMCC) has tapped Enya Labs as an ecosystem partner as it seeks to expand Dubai’s leading position as a global hub for digital assets.

Institutional FX

Advanced Markets integrates PrimeXM’s XCore trading and aggregation engine

“Advanced Markets Group has been at the forefront of liquidity innovation since its establishment in 2006. This strategic move, to further enhance our liquidity offering, is testament to our commitment to continue providing our clients with reliable and robust solutions that meet their needs.”

Digital Assets

Bybit taps Paradigm to launch spread trading on USDT-margined instruments

“We are thrilled that our collaboration with Paradigm has enabled us to provide traders with a more streamlined experience when it comes to spreads trading on USDT margined instruments. This launch further demonstrates Bybit’s commitment to bringing next level opportunities to our clients via superior trading experiences with top notch partners.”

<