Company Name: NCX AU
Announcement Date: 13/02/2018
Announcement Category: Investment
Announcement Content:
ASX ANNOUNCEMENT 13 February 2018
OOKAMI SIGNS COLLABORATION AGREEMENT WITH DIGITAL
ASSET EXCHANGE “NCX”
Highlights
• Ookami signs collaboration agreement with digital asset exchange National Currency eXchange
• Ookami intending to be the first securities investment platform to integrate digital asset payment solutions
Ookami Limited (ASX: OOK) (“OOK” or the “Company”) is pleased to announce that it has signed a Collaboration Agreement (“Agreement”) with Australian founded digital asset exchange National Currency eXchange Group Limited (“NCX”).
Ookami’s business model is to develop an ecosystem of advanced technology solutions encompassing ‘smart contracts’ and blockchain technologies, secure identity management and verification (‘Know Your Client’) (KYC) and anti-money laundering (AML) applications, data markets, advertising analytics, digital asset wallets and exchange platforms, digital asset solutions and security and encryption applications.
Ookami has identified NCX as the logical ecosystem partner for digital asset management, embracing the same regulatory compliance focused foundations that both Akela and Brontech are built upon. Under the Agreement, the parties will collaborate and share the intellectual property of their respective technologies, with a view to developing a “preferred” client model allowing members to seamlessly utilise technology and product offerings within the Ookami ecosystem.
This model envisages that once fully verified, clients will have access to a digital wallet allowing Akela to be the first securities investment platform to integrate digital asset payment solutions for use in traditional equity offerings. This essentially bypasses the extensive process flow; whereby the client needs to sell digital assets on a third-party exchange, transfer to a third party digital wallet, transfer fiat to a third-party bank, then transfer fiat for an Akela offering. Seamless integration avoids unnecessary extra layers of transaction fees associated with moving digital assets out of wallets across the network multiple times, the associated time delays, risk of transactional and/or execution errors (lost currency) as well as avoiding additional bank fees.
The rise in digital asset values has created a new investor class that is technologically sophisticated and seeks diversification of their asset holdings; thereby driving both new investors and diverse investment opportunities to the Akela platform, whilst cross-pollinating across the Ookami ecosystem.
Closing the Ookami ecosystem with key technology partnerships and investments further allows the opportunity and access for exclusive participation in equity investments and other offerings for its members, driving further both the intrinsic value and revenue growth of Ookami.
In addition to the primary objectives stated above, the Company and NCX will also further explore additional integration and co-development opportunities, as well as potential equity investment opportunities between the parties.
National Currency eXchange (NCX)
NCX's vision is to be the worlds trusted digital asset exchange addressing many of the problems and risks evident in existing digital asset exchanges. NCX aims to promote a trusted, secure and robust digital asset exchange solution following “bank-like” checks and processes, adhering to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, including verification of customer ID prior to trading, whilst also providing exceptional customer service and user experience.
NCX's expertise lies in its ability to rapidly and securely utilise cutting edge technology development and infrastructure to greatly improve the current crypto-currency technology platform to add new features, rollout rapidly in multiple countries and maintain a secure and scalable operation.
NCX aims to operate a series of locally based crypto-currency exchange solutions in various jurisdictions commencing with Australia, Singapore and Hong Kong. Following successful initial launch NCX is poised to continue its global roll-out of locally based crypto-currency exchange solutions in Malaysia, Croatia and elsewhere.
Outlook
As per the Company’s diversified investment and acquisition growth strategy outlined in its listing prospectus released on ASX in November 2015, the Directors of Ookami continue to consider technologies and solutions deemed complementary to the Ookami ecosystem, and are continuing to explore such opportunities brought about via their deep industry connections and are currently evaluating a number of additional complementary business acquisitions that may have the potential to create additional shareholder value.
It is management’s view that blockchain technologies and the adoption of cryptocurrencies will continue to become more mainstream as Governments, Tier 1 Companies and Regulators (such as the ASX’s decision to move to a blockchain settlements solution) adopt the technology.
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About Brontech
Brontech is Sydney based company that is pioneering a blockchain backed platform for data exchange and identity management. The company is also building complementary proprietary applications to extract data from various sources and pack them into anonymized data products that are sold to corporations and SMEs as insights and research tools. In its diverse data product offering is also included the MyBron API that enables individuals and companies to exchange verified information in a Peer-to-Peer manner where the data is verified through the company’s proprietary identity verification protocol that pulls data from Individuals and entities can find more information on Brontech’s products at www.bron.tech
About Akela
Akela’s proprietary financial services software and transaction management platform provides Australian Financial Services Licence (AFSL) holders a streamlined total management solution to capital raisings and distribution of public and private offerings. Akela is a unique ‘Service Platform’ with Peer-to-Peer (P2P) community, Business-to Business (B2B), KYC) and compliance and data collection & analytics capabilities.
Individuals and entities can continue to register on the platform and gain access to current and future offerings at www.akela.vc
About Akela Mobile App
iOS and Android users have access to the Akela Platform mobile app via the App Store and Google Play. The app will be initially free for all users, but will require a membership with the Akela Platform to use. Once logged into the app, investors will be linked with their account. Your investment progress will be linked across any device that you log in from. The mobile app is another tool that the Akela Platform provides to give you the best investment experience on the web.
For further information, please contact:
Corporate Advisors
Otsana Capital
108 Outram Street
West Perth WA 6005
Telephone: +61 8 9486 7244
Announcement URL: https://www.asx.com.au/asxpdf/20180213/pdf/43rjqlh4hkbqdy.pdf
About NCX AU:
TRADE BITCOIN & ETHEREUM ONLINE USING A LOCALLY CONTROLLED EXCHANGE
Go to Company Profile for: NCX AU
Announcement Contact: [email protected]
