Private wealth platform appoints ASX-listed corporate adviser

A blockchain-based private wealth platform that created China’s first robo-advice solution appointed an ASX-listed corporate advisory firm for its initial coin offering (ICO).

Bankorus, which now advises more than 200,000 high-net-worth investors representing an aggregate US$30 billion in assets, will partner with DigitalX (ASX:DCC) to launch its ICO. DigitalX is based in Perth and New York and provides blockchain consulting, software solutions and ICO support.

Bankorus allows HNW investors with multiple ways to access cryptocurrency using traditional assets. Investors can, for example, “tokenise” illiquid assets such as real estate holdings, and borrow cryptocurrencies against the value of any existing traditional asset.

DigitalX noted that the global cryptocurrency market represents about US$500 billion in value, while the HNW sector represents more than US$60 trillion, presenting a significant opportunity.

“DigitalX continues to strengthen our reputation for ICO advisory services and is now working with the world’s most promising blockchain companies as they raise capital to deliver their vision,” DigitalX chief executive Leigh Travers said.

“Demand for high quality ICOs is growing in 2018 and DigitalX is pleased to be working with companies that already have an established global market for their technology,” Travers said.

DigitalX will be paid in a combination of bitcoin, ethereum and native (BKT) tokens for its services.

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Source: Private wealth platform appoints ASX-listed corporate adviser | Financial Standard