November 28, 2017 / 1:46 PM / a year ago

Social Reality plans to pay cryptocurrency dividends

Nov 28 (Reuters) - Social Reality Inc, which is developing a blockchain technology, said on Tuesday it planned to pay a one-time cryptocurrency dividend to all its shareholders.

The digital marketing services provider’s shares were up 17.8 percent at $7.40 in premarket trading.

Social Reality, which is in early stages of developing a blockchain technology called BIG Platform, said it planned to pay the dividends in the form of digital tokens.

The digital tokens, called BIGtokens, would be linked to the BIG Platform and registered with the U.S. Securities and Exchange Commission, the company said.

Social Reality said the dividend pay out was part of its planned initial coin offering.

The company has also benefited from the cryptocurrency-fueled surge with shares soaring 86 percent this month.

Reporting by Aishwarya Venugopal in Bengaluru; Editing by Sriraj Kalluvila

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