TechX Technologies is a publicly traded company headquartered in Vancouver, Canada. TechX is listed on the Canadian Securities Exchange (TECX), Frankfurt Exchange (C0B1), and OTC (TECXF).
Takeover of techx Mobilam for $ 16 million
TechX Technologies Inc (CSE: TECX) (OTCMKTS: TECFX) (FRA: C0B1) is a public company making waves with its merger and acquisition initiatives. The company acquired 100% of the assets of CryptoBuddy and rebranded it Alt signal, A crypto trading signal platform through its subsidiary on an all-stock deal valued at C $ 5 million.
Soon after this acquisition, TechX Technologies signed a definitive agreement to acquire a 100% interest in Export digital Ltd is a fiat-to-crypto on-ramp platform for users to purchase cryptocurrencies without setting up an account. The company acquired XPort through a stock deal valued at $ 5 million.
On May 26, the company announced its acquisition Mobilum OU is a fintech company that provides legal infrastructure to the crypto industry. The agreement gives TechX a 100% interest in Mobilum. Mobilum’s daily processing volume ranges between C $ 100,000 and C $ 250,000 for exchanges including KuCoin, the world’s sixth-largest cryptocurrency exchange.
“With very few exchanges offering credit card processing, we have seen a rapid increase in demand for exchanges and cryptocurrency businesses to use their on-ramp solutions. By merging with TechX, Mobilum will be able to increase its liquidity to give us the ability to process millions of dollars in transactions per month.Mobilam CEO Vojtek Kaszycki said.
“TechX is very excited to acquire Mobilum’s innovative technology, building a bridge between Fiat and the crypto space to rapidly adopt cryptocurrency worldwide.TechX CEO Peter Green said. “Growth in decentralized finance applications is accelerating and assets under management within interest-bearing cryptocurrency wallets have grown rapidly to multi-billion dollars in the past year. People around the world are not satisfied with banks paying less than 0.50% interest. Unbanking is going to be the new norm and we hope to become a major player in this ever-growing market very fast. “
The move of financial institutions to support cryptocurrency payments provides customers with an easy and secure way to invest and transact using secure digital currencies. You can expect to see more activities in the M&A space in the coming months as more institutions, wallets, exchanges and DFI services ramp on and off payment processing technologies.
This is a sponsored post. Learn how to reach our audience Here. Read the disclaimer below.
Image credit: Shutterstock, Pixabay, Vicky Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell a product, services, or companies, or a recommendation or endorsement of a product, services, or companies. Bitcoin.com Does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is directly or indirectly responsible for any damage or loss in connection with the use or reliance of any of the materials, goods or services mentioned in this article.