Glance Technologies Inc. Surges After Partnering With Netcoins Inc.
Shares of Glance Technologies Inc. (CSE:GET) were up 20% into afternoon trading on October 5. The company has experienced tremendous growth in 2017 – up 355% so far this year.
Glance Technologies is a fintech start-up and creator of the Glance Pay Mobile App. The app allows users to make secure payments in restaurants and provides accounting tools for both customer and merchant.
On October 3 Glance announced that it would partner with Netcoins Inc. Netcoins Inc. enables about 4,000 stores to operate as Bitcoin teller locations with its virtual ATM software. The alliance with Glance allows users to access Glance Pay to spend Bitcoins easily and efficiently.
Bitcoin and other cryptocurrencies have erupted in 2017, coinciding with the decline of the U.S. dollar and enthusiasm from investors with the benefits offered by the decentralized network. Bitcoin and other cryptos like Ethereum took a hit after comments from JPMorgan Chase & Co. CEO Jamie Dimon, but have since bounced back.
Glance Technologies signed its first U.S. restaurant in September, marking a big step forward for the Vancouver-based company. Bill payment technologies have exploded in popularity in recent years. The move to appeal to Bitcoin owners is a sound strategic move. Major financial institutions, including Canada’s largest banks, have begun making large investments into blockchain in recognition of the appeal of the decentralized network.
The appeal of mobile payment apps and the explosive rise of cryptocurrencies like Bitcoin should motivate investors to keep this company on their radar.