DigitalX to sell portion of POWR tokens from ICO

Company News

by Jessica Ellerm


DigitalX Limited (ASX:DCC) has updated shareholders that it intends to sell down a portion of its POWR tokens to optimize its current cash requirements.

The company has indicated they will update the market accordingly post the sale of POWR tokens.

DigitalX was awarded the tokens after it helped blockchain energy trading company Power Ledger launch and complete Australia’s first major Initial Coin Offering, or ICO.

The ICO saw Power Ledger sell over $34 million worth of POWR tokens, of which DigitalX netted 4.5 million tokens valued at 11.5 cents.

Having traded as high as 30 cents on digital currency exchanges, POWR tokens are currently trading over 20 cents.

Shares in DigitalX (ASX:DCC) are trading 8.33 per cent lower at $0.22
 

Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.