Xped Limited (ASX:XPE) is one of the most active stocks on the ASX in morning trade, with 44 million changing hands by 11:30am.
Xped shares have gained 33% to 0.4 cents.
Driving the trade has been a deal with Heuresy Labs LLC.
Under the agreement, Xped will develop a new cryptographic Physical Security Token (PST) which is a hardware security device that provides authentication and encryption.
Xped will use the PST to provide authentication of its gateways and encryption of data from the devices attached to them, allowing the company to serve significant new and expanded markets that require secure Internet of Things solutions.
Xped is not planning to undertake a coin or token offering.
This new PST security will allow governments, utilities, retail and other industry customers who are waiting for secure IoT solutions to start adopting and benefiting from these applications now because they will be able to use the PST with Xped gateways and devices to build highly secure IoT networks.
Most active stocks in morning trade