Digital X picks up $1.2m for blockchain remittances

Australian blockchain-based financial services software developer Digital X has raised AUS$1.62m ($1.2m) in post-IPO equity and inked a new deal with remittances company UniTeller.

The Australian Securities Exchange-listed company recently saw a shakeup in its leadership with co-founders Alex Karis and William Brindise exiting the firm.

Chairman Leigh Travers will now take over as CEO at the Perth-based company.

Neel Krishnan, who was responsible for the company’s blockchain-facilitated mobile payments app AirPocket, will take on the role of president.

Digital X says the $1.2m capital raise was oversubscribed with the firm’s board itself contributing more than $261,000 of the total.

The opportunity was offered to new and existing institutional and sophisticated investors.

The firm has also announced a new partnership with remittance company UniTeller.

The deal will see AirPocket process remittances transactions to more than 40,000 cash out locations around Latin America and Asia.

Digital X Leigh Travers said, “today marks a new chapter for DigitalX Ltd with our partnership with leading Money Transfer Organization, UniTeller, successful capital raising and promotion of Neel Krishnan to President.

“We have come a long way from our history as a bitcoin group to now have this opportunity to be launching the world’s first Blockchain-enhanced mobile payments application, AirPocket.

“From here, the pure focus is delivering the AirPocket product and on our mission of delivering low-cost financial services to the people that most require them.”

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