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Ookami’s shares ride higher on new deal with digital asset exchange

Ookami is aiming to be the first securities investment platform to integrate digital asset payment solutions.

price chart of digital currencies
The rise in digital assets have created a new investor class

Ookami Ltd’s (ASX:OOK) shares are trading 33% higher intra-day at $0.073 after signing a collaboration agreement with Australian founded digital asset exchange National Currency eXchange Group (NCX).

Ookami is aiming to develop an ecosystem of technology solutions encompassing ‘smart contracts’, blockchain technologies, secure identity management and verification.

The company has developed a mobile platform, Akela, which allows investors to view what is on offer and place an order for shares in capital raisings for listed ASX companies, IPO’s and start-ups.

Enabling digital asset payment solutions for traditional equity offerings

The new agreement with NCX is expected to enable client verification for digital wallets, 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, and the associated time delays and risks.

Key technology partnership for the Ookami ecosystem

The rise in digital assets have created a new investor class that is technologically sophisticated and seeks diversification of their asset holdings.

Closing the Ookami ecosystem with key technology partnerships is critical, as it allows the opportunity for participation in equity investments and other offerings for its members.

Quick facts: Ookami

Price: 0.022 AUD

ASX:OOK
Market: ASX
Market Cap: $7.5 m
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