Digital CC Limited which is trading as DCC in ASX i.e. Australian Securities Exchange has become the world’s first Bitcoin focused company that trades on a major stock exchange. Though the company was previously known as Macro Energy Limited or MEJ in ASX, it changed its name later on for convenience after the merger.
The development came in March this year when it listed as DCC after a reverse takeover process. Soon after the reverse merger Macro told the ASX it plans to enter the digital currency sector through the acquisition of Bitcoin mining and trading company DigitalBTC. The company had then declared that it fund dirt diggers to mine its own digital currency.
The decision by its outfit Macro Energy that it will go from funding dirt diggers to mining its own digital currency, it got a listing in ASX as well. Thus, it became the first listing on a major exchange for a company associated with Bitcoin. Though it would be seen how the public perception goes about the listing, companies dealing in Bitcoin find it hard to generate trust among investors.
The Digital CC was founded by Perth rich-lister Zhenya Tsvetnenko trades Bitcoins on behalf of clients. There are various other departments like mobile application development as well that are going to help Bitcoin users hold digital currencies in a virtual wallet. The company is also planning to unveil a debit card for Bitcoin users in the future.
In addition to all the above, Digital CC Limited is also mining Bitcoins which it aims to use to generate revenues through the conversation into sovereign currencies, such as US and Australian dollars. It also plans to create returns by trading them on an exchange.
Listing in ASX Will Help Bitcoin at Large
It will definitely add trust as investment would be safe and secure in the sense any wrongdoing from the company is investigated by the authorities. Particularly, when ASX, one of the worlds’s leading financial market exchanges, comes to scene. The body offers a full suite of services like listings, trading, clearing and settlement, etc.
People who have lost their investment in now collapsed Bitcoin exchange Mt. Gox may still feel wary about investing anywhere or in any company; however, Digital CC Limited can be trusted as investors can stay assured about their investment. The decision is also going to help the company raise capital as trust builds up.
To contact the reporter of this story: Deepak Tiwari at firstname.lastname@example.org