Blockchain venture company Ookami has inked a strategic collaboration and development agreement with digital asset exchange National Currency eXchange (NCX).
The agreement supersedes and extends the Collaboration Agreement between the parties made last month.
Under the earlier agreement OOK and NCX were to collaborate and share the intellectual property of their respective technologies, with a view to developing a “preferred” client model allowing members to seamlessly utilise technology and product offerings within the Ookami ecosystem.
During the formative stages of the Collaboration Agreement both parties identified synergistic benefits in sharing their respective technologies, resources and know-how much further than originally contemplated.
As a result, the new agreement was entered into which enabled them to advance these opportunities.
“The parties have identified synergistic benefits in sharing their respective technologies, resources and know how, and consider this a ‘first step’ towards developing a stronger strategic relationship,” Ookami Non-Executive Chairman Faldi Ismail said.
We are both committed to collaborating on other digital asset projects with the intention of working together on a preferred supplier basis.”
Under the agreement, NCX will assist the company develop a software architecture and business analysis scope for the Payment Gateway – an investment platform providing clients access to a “digital wallet” allowing Akela to be the first securities investment platform to integrate digital asset payment solutions for use in traditional equity offerings – to be done within 3 months.
Separate to the Payment Gateway, NCX will provide development services to OOK for the further development of its intellectual property, including the Akela Platform and related project management services, for a period of 12 months.
The Company has received firm commitments from unrelated sophisticated and professional investors to raise $500,000 (before costs).
Funds raised from the Placement will be used towards payment of development costs and investment into NCX’s Seed B capital raising, as described above, and for general working capital purposes.
Shares in Ookami were last trading at 4.7c.