Market Update - Emerging Cryptocurrency PetroDollars Rebrands as PDX

NEW YORK, Nov. 12, 2018 /PRNewswire-PRWeb/ -- Petrodollars (http://www.petrodollars.io, http://www.pdxcoin.io), a unit of New York-based Signal Capital Management, announced today that it is continuing its rebranding effort away from the PetroDollars name, to a clearer focus on PDX, and the PDX Coin.

PDX has raised several million dollars in pre-ICO funding, and expects to raise an additional $15 million ahead of its global ICO launch in the first half of 2019. The ICO remains targeted at US$1 billion. Separately, PDX and its parent are nearer to closing on a supplementary $40 million private round for wholly-owned OilCo Acquisition Holding Inc., based in Houston, Texas, ahead of a potential; go-public transaction. OilCo will change its name to PDX Energy Inc., following the financing.

The group will use some of the proceeds of the pre-ICO raise in its oil and gas business, as well as advancing the early technical development of its blockchain and payments technology platforms, in addition to ramping up its pre-ICO global marketing program, and making new senior hires in the US and UK.

PDX Coin, the foundation of the PDX Network and the PDX Ecosystem is a hybrid centralized / decentralized banking and technology-focused cryptocurrency that is also backed by large physical oil and gas reserves in North and South America, ready for development and production. In the longer term, management will gradually and increasingly shift the focus of the group's energy assets and operations away from fossil fuels, to green and renewable energy projects and revenues.

The group's technology focus is on advancing and improving current blockchain technology, with a particular emphasis on increasing transaction speeds, and blockchain security. The group intends to offer high-speed, secure payments and funds transfers free of charge to holders of PDX tokens, via its internally-owned banking and payments processing businesses. In the longer term, PDX will roll out innovative and cutting edge consumer blockchain applications across technology, healthcare, and telecommunications.

http://www.pdxcoin.io

Inquiries to: info@signalcapitalmanagement.co

SOURCE PetroDollars