Cryptocurrency payments are finding a great deal of support from financial institutions. In fact, according to Bitcoin.com, “The move by financial institutions to support cryptocurrency payments provides an easier and safer way for customers to invest and transact using secure digital currencies. You can expect to see more activity in the M&A space in the coming months as more institutions, wallets, exchanges, and DeFi services embrace on and off ramp payment processing technologies.” That’s a substantial catalyst for companies, such as TechX Technologies Inc. (CSE:TECX)(OTC:TECXF)(FRA:C0B1), Banxa Holdings Inc. (TSXV:BNXA) (OTC:BNXAF), Voyager Digital Inc. (CSE:VYGR)(OTC:VYGVF), Mogo Inc. (NASDAQ:MOGO), and BIGG Digital Assets Inc. (CSE:BIGG)(OTC:BBKCF).
Look at TechX Technologies Inc. for example
TechX Technologies is a fintech company focused on traditional and emerging financial services such as payment processing, mobile payments and digital assets including cryptocurrency. Led by senior leaders and industry experts, its investors have access to strategically selected portfolio companies that offer technologies across the entire cryptocurrency funnel, unlocking massive market potential.
Most recently, it acquired Mobilum OU, a fintech company that provides fiat infrastructure to the cryptocurrency industry.
TechX Closes Acquisition of Cryptocurrency Payment Technology Gateway, Mobilum
In fact, the company just announced that, further to the Company's news release dated May 26, 2021, TechX has completed the acquisition of Mobilum OÜ.
TechX also announced that the Board of Directors has approved a name change of the Company from "TechX Technologies Inc." to "Mobilum Technologies Inc." and the ticker symbol in which it trades on the Canadian Securities Exchange to "MBLM". The Company will issue a further news release announcing the effective date in which the Company will commence trading under the new name, symbol and CUSIP number. The name change remains subject to CSE approval.
Mobilum, a financial technology start-up that provides the fiat infrastructure to the cryptocurrency industry, is a licensed plug-and-play fiat-to-crypto gateway and payment processing technology solution for exchanges, wallets, brokers, liquidity providers, and cryptocurrency businesses. Mobilum's simple-to-use on-ramp and off-ramp solution makes integration easy for businesses whose users buy and sell cryptocurrencies with credit and debit cards. Mobilum guarantees zero chargebacks, the highest acceptance rates, and the lowest transaction fees in the industry (at 2.99%).
“We couldn’t be happier about acquiring Mobilum’s on-ramp, off-ramp and digital wallet technology,” said TechX CEO Peter Green. “With the infusion of funds from our last financing round, we expect to quickly grow from the $150,000 in daily processing volumes we are currently doing by expanding the on-ramp offering to other cryptocurrency exchanges and businesses. We’re also excited to be launching the gift and payment card off-ramp and digital wallet solution towards the end of Q3. It’s becoming clear that decentralized finance is gaining global acceptance and we are excited to be part of this multi-billion dollar game-changing industry.”
Other related developments from around the markets include:
Banxa Holdings Inc., the leading payment service provider for the digital asset space has announced a new partnership with BOTS, the self-regulating, scalable trading platform. Banxa is the fastest growing digital assets payments provider which allows customers to simply and safely turn their cash into crypto and vice versa, while BOTS allow users to trade more effectively, utilizing robotic algorithms and AI which executes trades faster and more efficiently. The integration of the Banxa technology platform into BOTS' trading system is now live.
Voyager Digital Inc. announced an agreement with NASCAR driver Landon Cassill to be the first primary sponsorship of a NASCAR race car paid fully in a portfolio of cryptocurrency led by Litecoin (LTC) and the Voyager Token (VGX). The sponsored car is fielded by JD Motorsports and driven by NASCAR driver Landon Cassill during the 2021 NASCAR Xfinity Series. "Landon Cassill's focus and determination on the race track translates across everything he does, which is why we're honored to partner with him in this season's Xfinity Series," said Steve Ehrlich, CEO of Voyager. "Landon also shares our vision of widespread crypto adoption, and we're proud to be the first company to secure a primary NASCAR sponsorship completely with crypto. Through innovation, Voyager continues to demonstrate crypto's multiple use cases, from being a valuable and efficient form of payment, to an investment asset class fuelling a new technology revolution."
Mogo Inc., a digital payments and financial technology company, announced that it has closed its previously announced acquisition of an additional 2.0% of the outstanding common shares of Coinsquare Ltd., Canada’s leading cryptocurrency platform, from Michael Diamond and two affiliated companies. Mogo also has an option to acquire up to an additional 3.4% of the outstanding common shares of Coinsquare from the Vendors until October 13, 2021 under similar term and subject to certain conditions, which when combined with Mogo’s existing purchase warrant in Coinsquare, could increase Mogo’s total ownership by up to an additional 14% of the outstanding common shares. Mogo requires Coinsquare board approval to increase its ownership interest in Coinsquare over 49.9%. There is no certainty that the Coinsquare board of directors will grant such approval.
BIGG Digital Assets Inc., a leading developer of blockchain technology search, risk-scoring and data analytics solutions, is pleased to announce a partnership with ZignSec AB, a RegTech ecosystem listed on the NASDAQ Nordic stock exchange. BIG will integrate BitRank Verified® into ZignSec’s compliance marketplace. BIG’s proprietary cryptocurrency analytics are trusted by compliance professionals and investigators at financial institutions and law enforcement agencies around the world. Paired with ZignSec’s aggregator capabilities, customers now can use crypto investigation tools and wallet tracking services offered by BIG, helping simplify and streamline compliance with local Know Your Business (KYB) and Know Your Customer (KYC) regulations.
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