DigitalX quarterly results point to renewed optimism in digital asset market

Katie McDonaldApril 30, 2019
DigitalX-10

DigitalX’s quarterly results suggest better times are ahead for the world’s digital asset market.  

Digital X announced to the ASX it had cash assets, listed digital assets and fund units of US$5.77 million in value at quarter end.

“DigitalX is strongly positioned to take advantage of the renewed optimism in cryptoassets and this is due to the focus of our team in maintaining momentum in recent months amid softer prices for digital currencies,” said DigitalX CEO Leigh Travers.

DigitalX has continued to provide Initial Coin Offering advisory assistance during the quarter and has been working on shaping its services towards Security Token Offerings (STO) as the market matures.

During Q1 2019 the number of STOs more than doubled since Q4 2018, according to InWara.

DigitalX’s quarterly results follow an announcement earlier this month of plans for an AU$2 million share purchase plan, as well as a strategic investment in Singaporean-based Bullion Asset Management Services (BAM).

BAM is creating a gold-backed cryptocurrency called XGold, which will allow investors to purchase, transfer and store digital gold.

 

The information in this article is general in nature. Any advice it contains is general advice only and has been prepared without taking into account the objectives, financial situation or needs of any particular person.

The article content is not intended to be a substitute for professional advice and readers are urged to seek their own appropriate advice before making decisions.

Any reference to a particular investment is not a recommendation to buy, sell or hold the investment. 

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