Former bitcoin miner and transaction processor Digital CC has terminated all bitcoin related operations by rebranding to Digital X to focus on its remittance product and blockchain-based software development AirPocket and Digital X Direct.
The company said:
“The rebranding represents a strategic change from a focus on bitcoin as a mechanism to store value to a focus on software development. While the company has made a strategic change towards applications within the remittance market, it is still leveraging its skills and experience gained within the bitcoin industry.”
The Australian Securities Exchange-listed company made the decision due to the continuous decline of its bitcoin related operations and the termination of partnership between cryptocurrency mining company Mintsy and Digital CC earlier this month.
“Under such circumstances, [Digital CC] had no choice other than to terminate its role and relevant interests under the agreement,” announced executive chairman Zhenya Tsvetnenko at the time. “Digital CC also confirms it has no further commercial digital currency-related dealings with ventures associated with its former joint-venture partner. Digital CC is now fully committed to the commercial rollout of its AirPocket remittance product in Latin America.”