DigitalX launches American joint venture
23 November 2018, Written by Business News Australia
Blockchain company DigitalX (ASX: DDC) has launched a new joint venture with US-based investment bank and broker-dealer Americas Executions (AmerX) to service the Security Token Offering (STO) marketplace.
Called DX Americas, the new entity will provide blockchain and technical advisory services in addition to marketing and public relations services for STOs.
DigitalX president Neel Krishnan says the collaborative project will expand its global reach in blockchain services even further.
"DX Americas will significantly expand the reach of DigitalX's cryptoasset advisory business, both through tapping AmerX's global network of STO investors and through building on their existing legal and compliance experience in STOs," says Krishnan.
"It will also provide a major source of new clients to our growing services business in smart contract development and crypto media."
AmerX has recently emerged into prominence in the USA thanks to its work in the cryptoasset sector, having recently acted as lead banker for trading platform tZero's successful token raise of over USD$130 million (approx. AUD $179 million).
The American company has built a global network of security token investors that spans more than 50 countries.
Under the joint venture agreement, DX Americas will provide smart contract development, consulting on tokenomics, and media and PR services tailor made to STO clients.
The two companies will offer capital raising services for security token offerings, utilising AmerX's global client base.
DigitalX managing director Leigh Travers says the move is part of DigitalX always being on top of the current moves in the blockchain and crypto sectors.
"The STO market represents the next wave of blockchain-based asset adoption and with the secondary trading markets opening up in 2019, the timing for the new venture is right," says Travers.
DX Americas will be led by Luigi Gilhardi II and DigitalX COO Scott Benson and will be based in New York City.
Shares in DigitalX are up 16.67 per cent to $0.070 per share at 10.48am AEDT.
Business News Australia
Author: Business News Australia