Carey Olsen has advised AX1 on the initial coin offering (ICO) of the AX1 Token.
The ICO proceeds will be invested by AX1's subsidiary into a cryptocurrency mining operation in the UK.
Partner Chris Griffin led the Carey Olsen team advising AX1, assisted by Associate Joseph Barker-Willis. The law firm worked with the Jersey Financial Services Commission to shepherd the ICO through regulatory approval.
Stuart Anderson, CEO of AX1, said: "We believed the cryptocurrency market could offer a much better way for those people to get involved who did not necessarily have the same level of technical knowledge as most crypto investors.
"We chose to launch the ICO using a Jersey company because of the sophisticated regulatory approach of the jurisdiction."