Blockchain Global takes over the management of Digital X Direct’s bitcoin trading desk
Blockchain Global Limited (BCG and “the Company”) Australia’s leading Blockchain Technology company, is pleased to announce it has entered into a binding agreement (Agreement) with DigitalX Limited (ASX : DCC), an ASX listed Blockchain-enhanced software solutions group that is disrupting the payments industry.
The Agreement will see the Company onboard all DigitalX Direct platform customers onto its Bitcoin exchange platform, ACX.io, Australia’s largest Bitcoin exchange by volume and order book. ACX.io is an alumni of the Company’s corporate incubator program and now operated by Blockchain Global Limited. Customers introduced will provide DigitalX 50% of the revenue over a five-year term (https://acx.io/).
DigitalX’s role will centre on customer introduction, sharing of compliance procedures and recommendation around technology best practices and service providers. Blockchain Global will be responsible for compliance, banking, trading software and custodianship of customer funds and personal information.
The Agreement will see Blockchain Global take over the management of DigitalX Direct’s worldwide footprint of clients, which is expected to substantially accelerate the growth of ACX.io internationally by way of creating a market for Bitcoin to USD currency pairs. This will provide DigitalX with ongoing revenues without any associated operating costs, allowing focus to be committed on their money remittance application, AirPocket.
Leigh Travers, CEO of DigitalX commented, “The outlook for digital currency is very promising and this is an excellent opportunity to monetise DigitalX Direct, while all Company efforts are directed to AirPocket and the ongoing role out of new features to our AirPocket product.”
Sam Lee, CEO of Blockchain Global added, “We see immense synergies working with the DigitalX team to expand on the success of DigitalX Direct and ACX.io platforms. In addition to providing additional liquidity for our Bitcoin Mining operations, the knowledge gained from this agreement will also greatly benefit our corporate accelerator program and management consulting division.”
Allan Guo, General Manager of ACX.io said, “During the previous month January 2017, our daily revenue averaged AU$3,000. The ACX.io platform handles an average of over AU$1 million daily trades. From this solid foundation, we look forward to working with the DigitalX team to embark on our next chapter of growth towards becoming a global exchange and liquidity provider for Bitcoin and beyond.”
About Blockchain Global Limited
Blockchain Global Limited is a profitable public company founded in 2014 as Bitcoin Group Limited. The Company’s activities has generated AU$1.9 million and AU$5.9 million revenue in FY15 and FY16 respectively. The Company in 2016 rebranded to Blockchain Global Limited to better reflect the expanded operations beyond a pure play Bitcoin Mining operator, by expanding it’s offerings through establishing a Management Consulting Division and Corporate Incubation Program.
By assisting corporates and startups alike to understand and harness the power of Blockchain Technology through leveraging Blockchain Global’s IP and knowhow, the Company’s consulting division and incubator program have gone on to make a number of successful investments, contributing to the Company’s consulting and licensing revenue. These activities continue to strengthen the Company as Australia’s leading provider of distributed ledger infrastructure and technology.
About DigitalX Limited
DigitalX is a Blockchain-enhanced software solutions group disrupting the payments industry. Its products allow consumers to make secure and cost-effective money transfers worldwide. Partners can use DigitalX’s technology to offer new financial products.
About Australian Crypto Exchange, ACX.io
ACX.io is Australia’s largest Bitcoin Exchange and liquidity provider averaging over AU$1 million daily trading volume. Leveraging Blockchain Global’s asset security and exchange IP, and Bitcoins Reserve’s liquidity engine, ACX.io provides a secure and simple to use, customer friendly platform for buying and selling Bitcoins.