Sovereign Cash Token lists, values First Growth Funds’ investment at US$3.89M

By Megan Graham. Published at Oct 24, 2018, in Small Caps

First Growth Funds Limited (ASX:FGF) has today announced that CryptoData Vault’s sovereign cash token (SOVC) has successfully listed on a digital currency exchange, BTCEXA as of 6pm, 23 October.

In April, FGF announced it had invested US$250,000 and successfully secured US$2 million for CryptoData Vault, based in Washington DC, USA, to “develop a hardware wallet for a fully compliant, secure and geo-fenced solution for storing digital currencies”.

As part of this project, CryptoData Vault built a utility token — Sovereign Cash — to be used in conjunction with the hardware wallet, and also issued 4.3 billion Sovereign Cash tokens.

Today it listed at a price of $0.0058 per token, giving a total market capitalisation of US$25 million.

However, the initial list price will not necessarily reflect the subsequent price at which the tokens are publicly traded.

FGF had already secured 15.56% of all Sovereign Cash Tokens and based on today’s list price, it puts FGF’s holding at US$3.89 million. The small cap also has a 50% interest in Crypto Data Vault LLC that owns 30% of all tokens valued at US$7.5 million.

In addition, FGF is entitled to a 6% success fee for all tokens sold by CryptoData Vault.

Over a period of time, FGF will seek to convert the Sovereign Cash tokens to Australian dollars and as soon as is practical.

The company stated that, as Sovereign Cash is listed on additional exchanges and linked with “more trading pairs”, it expects to find additional opportunities to sell the tokens.

Where to invest $1,000 right now

When the experts at Next Investors have a stock pick, it may pay to listen.

The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.

They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.

Click the link below to see what they are currently investing in.


S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!