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Blockchain software solutions company DigitalX inks deal with Telefonica

DigitalX, the provider of innovative fintech software solutions based on blockchain technology, has signed an agreement with leading Latin American private telecommunication company Telefonica, The Australian reported.

Under the agreement, Telefonica will take DigitalX’s AirPocket app across the continent. DigitalX describes AirPocket as a disruptive, global, P2P remittance product that utilizes the Bitcoin blockchain technology. The mobile app allows anyone with a small cash float to become a remittance broker and provides customers a convenient, low-cost, cash transfer option.

Zhenya Tsvetnenko, DigitalX executive chairman and founder, said the deal with Telefonica is the first of other significant global partnerships which are yet to be announced. He said that the deal would be lucrative for the company as DigitalX will be taking an 11% commission on each transaction, ranging between $US2-$US70.

Tsvetnenko further said that AirPocket app is unique as it makes remittances easier by leveraging the sharing economy pioneered by Uber and Airbnb. He added that the app offers an alternative for migrants to help out their families financially.

“The Telefónica partnership is transformational for our company, and I am not only talking from a revenue opportunity perspective. The fact is, this deal puts our emerging technology company on the global stage and cements our position as a first mover in providing a blockchain application of commercial scale,” The Australian quoted Tsvetnenko. “This is a major milestone in the commercialisation of our technology as it opens a very lucrative market for DigitalX given the large Latin American population working in the US.

“The agreement shows that AirPocket isn’t only well-suited for transferring cash between end users but is also an ideal way for transferring digital funds and paying bills in a secure and timely fashion”, he said.


DigitalX was listed on the Australian Securities Exchange (ASX) in June 2014 and is publicly traded as DigitalX Limited. Earlier in February, the company had announced that its plans to execute the commercial rollout of AirPocket, initially in Latin America and the Caribbean during Q2 2016.

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