I-ON Digital Corp. (OTC:IONI) Stock Soars 28%: Here is Why

This morning, most market participants are going to be looking into those companies that hit the newswires on Monday. A company that came into focus yesterday was I-ON Digital Corp. (OTC:IONI) after it announced that it had completed the contribution and exchange agreement with Orebits Acquisition Group LLC. Owing to the previously announced agreement, the company picked up a controlling stake in Orebits Corp.

That also gave I-ON Digital Corp. controlling interest in Orebits’ trademark, gold digitization portfolio of patents, core intellectual property, and brand marks. The transaction also included I-ON Digital Corp. taking over the control of Orebits’ digital platform as well as its 9700 Orebits.au gold-backed digital assets. In exchange, the company provided its Series C preferred shares. In the news release from I-ON Digital yesterday, the company noted that the transaction would add around $18.2 million in the form of shareholder equity to its balance sheet.

In this context, it is important for investors to keep in mind that I-ON Digital Corp. is at the vanguard of asset tokenization, digitization, and securitization at an institutional level. It is mainly focused on material mineral assets like proven precious metals and gold reserves. Recently, I-ON Digital Corp. also launched a SaaS (software as a service) platform meant for broker-dealers, banks, and other financial agents to have an institutional platform.

That platform would help in the facilitation of management, receipt, and reporting in the realm of digital assets. Through the deployment of its proprietary technologies, the company would start working on the conversion of the 9700 Orebits.au into I-ON’s native gold-backed digital assets immediately. Commercially, those converted digital securities would be known as ION.au. It would be interesting to see if the I-ON Digital Corp. stock comes into focus among investors this morning or not.