ICOx Innovations (TSXV and OTC: ICOX) plans to list on the Canadian TSX Venture exchange. ICOx is a company that “designs and creates blockchain economies for established companies to benefit and grow their businesses through blockchain technologies and branded cryptocurrencies.”
In a release, the company said it had received approval to trade as a “Tier 2 Technology Issuer.”
ICOx is part of the team that created KodakONE. Cameron Chell, co-founder and Chairman of ICOx, is is also co-founder of KODAKOne and co-architect of the KODAKCoin platform.
In its most recent filing with the Securities and Exchange Commission (SEC), ICOx reported a net loss of just under $1 million or ($0.05 / share). ICOx previously completed private placements for an aggregate of 9,113,659 shares of common stock at a price of $0.60 per share for gross proceeds of $5,468,195. The company currently has a market cap of approximately $6.2 million.
Bruce Elliott, President ICOx Innovations, said that his company focuses on regulatory compliance and corporate governance thus allowing them to attract “world-class talent.”
“From KodakONE, BitRail and our pipeline of opportunities, we are solving real world problems to help brands reduce transaction costs, increase customer adoption and raise engagement levels with blockchain technology and their own branded and regulated cryptocurrencies,” said Elliott.
Edmund Moy is an ICOx Board Member and Former Director of the United States Mint. ICOx also has enlisted Alphonso Jackson as a Board Member. He is a former US Cabinet Secretary and former Vice-Chair of JPMorgan Chase.
ICOx is helping to launch BitRail, a digital payment platform that provides “frictionless use of regulated cryptocurrencies” for both consumers and e-commerce brands.
BitRail expects to allow low-cost transaction services for cryptocurrencies seeking to be fully compliant in the US, BitRail is expected to provide ACH integration money transmitter licensing and AML/KYC compliant transactions in Q1 2019.
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