Midpoint Shares Rally 15% On Receipt Of Hong Kong Money Service Operator License
Shares of Midpoint Holdings Ltd. (TSX-Venture:MPT) are on the move higher as the company announced that is has received a Money Service Operator (MSO) License from the Hong Kong Customs and Excise Department for its recently formed subsidiary Midpoint Hong Kong Ltd.
Midpoint is an FCA authorized payments institution with the world's first authentic peer-to-peer ('P2P') foreign exchange marketplace. SMEs, overseas professionals, property owners, foreign students, individuals and anyone involved in international payments, use Midpoint's US patent protected platform for transparent, multi-party, multi-currency services.
"With regulatory cover to conduct cross-border payments and money service business in the UK and Europe, Canada and Hong Kong, the Company is well positioned for international expansion in an increasingly globalized and regulated industry" said David Wong, Chairman and CEO.
Shareholders of MPT are cheering today’s news by bidding up the stock to the tune of 15% in late-afternoon trading on strong volume as the stock continues an uptrend that began back in mid-October.