TechX Technologies Inc., a publicly traded company based out of Vancouver, Canada, is in the process of acquiring a fiat-to-crypto gateway that it says will strengthen synergies between traditional fiat currencies and emerging crypto assets. Will help
Mobilium is a licensed fiat-to-crypto gateway for acquisition targets, exchanges, wallets, liquidity providers and brokers. The company processes $ 250,000 CAD worth of transactions each day, which is equivalent to about $ 206,000 at current exchange rates.
To acquire Mobilium, TechX is paying $ 16 million CAD, or $ 13.2 million.
Peter Green, CEO of TechX Believes that Mobilium’s technology can “accelerate the mass adoption of cryptocurrency worldwide, which adds:
“Growth in decentralized finance applications is growing rapidly and we expect to soon become a major player in this growing market.”
Defy, Or decentralized finance, is one of the hottest trends in the cryptocurrency market, with the total value in the ecosystem exceeding $ 121 billion at the time of publication. As recently reported by Cointegraph, The industry peaked in May with TVLs of over $ 163 billion..
TechX makes strategic acquisitions of emerging fintech companies at the crossroads of cryptocurrency, artificial intelligence and cloud computing. In addition to the newly acquired Mobilum, the TechX portfolio includes a number of companies, including Catalex Exchange and AltSignals.
Mobilam CEO Wojtek Kaszycki said the recent market correction has allowed his firm to increase its processing volume “because investors want prices to fall.”