DIGITALX LIMITED
18 August 2015
• digitalBTC has signed an agreement with U.S. based payments company, CoinX to provide money transmitter services to its AirPocket product in the U.S.
• Agreement validates the AirPocket product and significantly accelerates the development and commercialisation of the product
• Leverages an already established and licensed banking relationship to reduce
AirPocket's path to market by two years• CoinX is an established fintech company with access to licenses in 40 U.S. States, enabling AirPocket to remit funds widely
• Agreement covers all AirPocket's banking transfers within the U.S., a key requirement ahead of a public beta launch
• The Company is also seeking additional banking partners within Latin America and the Caribbean
Digital payments company Digital CC Limited (trading as digitalBTC, ASX:DCC and 'the Company') is pleased to announce it has entered into a Master Services agreement with CoinX to leverage its banking licenses within the U.S.
The agreement is for an initial two years and as part of the agreement CoinX will provide
AirPocket access to money transmitter services in 40 States within the U.S.
CoinX is a U.S. based fintech company specialising in domestic and international payment processing and transfer services, such as remittances to third party financial services and payments companies for onward settlement.
As part of the agreement AirPocket has been appointed as an agent authorised to engage in money transmission services within licensed states, significantly accelerating AirPocket's path to market and reducing it by up to two years.
Importantly the agreement enables AirPocket to commence remittance transfers in the U.S., a key requirement for the Company ahead of a public beta launch.
CoinX money transmitter services are currently only provided to seven clients and digitalBTC
will be the eighth to join the exclusive list of companies.
However, CoinX's reach is much wider, indirectly servicing 11,000 firms including Banks, financial institutions, traditional money transfer services, money services businesses, Payment Services Providers, Payment Network Operators, Exchanges, and MTOs/MNO through its existing seven exclusive partners.
Compared to other companies providing payment processing and transfer services in the U.S., CoinX's licenses and coverage is substantially ahead of its peers.
Zhenya Tsvetnenko, Executive Chairman, digitalBTC commented:
"This agreement is a key milestone for AirPocket and significantly accelerates our path to market, reducing it by up to two years. Leveraging the money transfer license from CoinX provides us with the ability to transmit remittances across 40 States in the U.S., a key market for AirPocket and one of our initial markets for the beta launch."
For further information please contact:
digitalBTC
Zhenya Tsvetnenko Executive Chairman T: +61 8 9389 2000
media@digitalbtc.com
Alex Karis
Chief Executive Officer
T: +1 (617) 544 3150
Media & Capital Partners
Asher Moses
Director
+61 438 008 616
Asher.moses@mcpartners.com.au
Digital CC Limited, trading as digitalBTC, operates as an innovative software solutions company, providing investors exposure to the global digital payments systems industry through disruptive fintech solutions in the remittance and digital currency sectors.
The Company has developed a suite of new and innovative software for institutions and consumers, leveraging Blockchain technology and the secure ledger system to create new and innovative products for institutions and consumers.
The Company's most recent product, AirPocket, is designed to provide consumers with the ability to securely and cost-effectively send remittances in any currency, from anywhere, anytime, regardless of the transaction size.
Digital CC Limited is based in Perth, Australia and has offices in Boston and New Jersey, U.S.
CoinX is U.S. based fintech company that specialises in domestic and international payment processing and transfer services (money transmission).
It provides customers & partners with enterprise-level transaction monitoring and processing platforms. It offers a wide array of payment processing services, payments routing, settlement services, transaction monitoring and compliance and access to 3rd party payments and financial networks for onward settlement.
Its clients and partners include Banks, financial institutions, traditional money transfer services, money services businesses, Payment Services Providers, Payment Network Operators, Exchanges, and MTOs/MNOs.
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