Blockchain Holdings Inc. (BCX:CSE), a company that provides analytics for measuring the value of cryptocurrencies and alt-coins, will begin trading on the Canadian Securities Exchange on Friday, October 12.
The company announced that it had received the final approvals from the exchange and will trade under the symbol BCX. The company completed a name change and is consolidating common shares 10 to 1.
The company also completed a non-brokered private placement of $500,000 at a post-consolidation price of $0.10 per receipt, which will be converted into one post-consolidation common share of the company.
Blockchain Holdings develops proprietary indexes and data products for emerging blockchain and digital currency markets.
Cryptocurrencies are decentralized and the data are scattered, but Blockchain Holdings gathers the data, organizes and compiles it into a meaningful index of use to investors and asset managers, providing an institutional-grade analysis package.
Blockchain Holdings' indexes track important metrics in cryptocurrency investing. Through its portal, BCXdata.com, it sells access to index data, generating SaaS (Software as a Service) revenue. Its platforms give traders and developers a way to quantitatively measure the value of cryptocurrencies and alt-coins.
In addition, Blockchain Holdings "provides investors and fund managers with unique insights into the growing ecosystem of cryptoassets," according to the company.
The company's three indexes are:
- BCX Total Crypto Momentum Index, which offers investors a way to capture a greater returns without the need to understand every crypto project.
- Developer Interest Index, which measures how committed open source developers are to a project, so investors can make informed decisions about a project's financial viability.
- Anti-Money Laundering Index, which is a black market money tracking tool allowing investors to get accurate estimates of the coins being used for both legal and illegal activities.
Blockchain Holdings is led by an experienced management team. Chairman James Passin is the founder and manager of the Firebird Global Fund and the Firebird Mongolia Fund and has 18 years of experience as a fund manager with public market and venture capital experience.
CEO Wayne Lloyd was the founder of Market Memory, a firm that provides data analytics to physical commodity traders. CFO Alan Tam has served CFO of several companies, including Liberty Biopharma, The Wonderfilm Media Corp and Avapecia Life Sciences Corp.
Board member Jeremy Gardner is the founder of Augur, a decentralization prediction market, and founder and chairman of the Blockchain Education Network.
Post-consolidation, fully diluted, Blockchain Holdings will have 17.9 million shares issued and outstanding.[NLINSERT]
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