As cryptocurrency continues to be slowly integrated into the broader financial system, the important first step of converting fiat currency into crypto provides a rare investment opportunity for investors without necessarily the success of cryptocurrency as a coin Finding a way to get in touch.
Multinational financial services such as Visa and MasterCard have already started processing these types of transactions in partnership with on-ramp processors, making the process more efficient than ever.
This trend is expected to lead to some exciting developments in the financial sector, such as increasing the number of mergers and acquisitions in the space. According to PwC’s third global crypto M&A and fundraising report, the total value of M & As within crypto more than doubled in 2020, to more than $ 1.1 billion. They expect to see further consolidation in the industry with some large, well-funded, or profitable firms continuing their M&A activities.
Now that some crypto firms are so large, large traditional finance corporations may be forced to acquire at least some of them, creating an exciting opportunity for investors to expand their portfolio in crypto .
In fact, cryptocurrency-related M&A hit $ 600 million during the first half of 2020, even among market lows, exceeding the 2019 total for all. Some of the most notable deals in the crypto space in 2020 include major crypto exchanges. CoinMarketCap’s acquisition by Binance, valued at $ 400 million, and a $ 41.79 million acquisition of Tagomi, a New York-based crypto brokerage by Coinbase.
On-ramp M&A activity takes center stage
For the process of acquiring and spending cryptocurrency, the analogy of a highway makes it easier to explain to new crypto investors. There are on-ramps that help you get to the crypto-highway and off-ramps that help you descend again. In short, a cryptocurrency on-ramp refers to an exchange or similar service where you can offer fiat money in exchange for cryptocurrency.
That is why on 10 February, MasterCard announced that it would start supporting select cryptocurrencies on its payment network. The financial institution took the bold step after tracking the use of customers as it relates to cryptocurrency, especially bitcoin, realizing that cryptocurrency is becoming more accepted as an investment and payment method. In March, Visa also announced that it would be the stable currency USD. Will start accepting payments in The coin.
Canadian listed TechX Technologies Inc. (CSE: TECX) (OTC: TECXF) (FRA: C0B1) is also making significant inroads in the on-ramp space. It began by acquiring Fiat-to-Crypto Gateway Export digital C for $ 5 million and later announced the signing of a definitive agreement for the acquisition Mobilum, A fintech payment processing technology and digital wallet, for C $ 16 million.
Mobilum’s easy-to-use on-ramp solution makes integration easy for businesses whose users buy and sell cryptocurrencies with credit and debit cards. Mobilam guarantees zero chargebacks and claims they have the highest acceptance rate, and the lowest transaction fee in the industry at 2.99%.
Currently, Mobilam’s daily processing volume ranges from C $ 100,000 to C $ 250,000 in cryptocurrency exchanges transactions which include Cucoin, The world’s sixth largest cryptocurrency exchange. Mobilum’s payment gateway services are accessible to more than 8 million global users, supporting over 200 cryptocurrencies and 80+ fiat currencies.
Going forward, bitcoin and crypto are now becoming a staple of financial institutions and banks, with the possibility that 2021 (and beyond) will bring more and more ‘traditional’ finance companies buying firms within crypto. In addition, we may see an increase in crypto firms acquiring companies outside the region.
With such developments in the game, it could mark the beginning of a potentially exciting journey for someone to expand their crypto holdings or make their first investment in the field.